With the recovery of the encryption market, STEPN started the rising cycle of GameFi, and Azuki led the recovery of NFT blue chip assets. Judging from the statistics of this week (15 projects in total), investment institutions mainly invest in GameFi (6) and NFT (4), while investment in infrastructure and DeFi has decreased. CGV and CTC have summarized the investment and financing information worth noting in the global encryption market for a week. The following is the investment and financing information of the global encryption market from March 28 to April 3, 2022
【infrastructure】
1. Iris Energy | Equipment financing $ 71 million | NYDIG provides mining machine support
On March 28, Australian bitcoin mining company Iris Energy received $71 million in equipment financing from bitcoin investment company NYDIG. The round is backed by 19,800 Bitmain S19j Pro miners from Iris Energy.
2. Cross River Bank | $620 million financing｜a16z led the investment
On March 31, the financial technology company Cross River Bank announced the completion of US$620 million in financing. This round of financing was led by a16z and Eldridge, and T. Rowe Price (TROW), Whale Rock, etc. participated in the investment. Funds from this round of financing will be used to drive Cross River's growth strategy, including expanding the company's leading position in embedded payments, lending and encryption solutions, as well as international market expansion and establishing new partnerships.
Cross River's products provide its users with fiat ingress and egress for encrypted transactions, NFT marketplaces, and encrypted wallets, and its customers include Coinbase, Stripe, Affirm, and Rock Loans, among others.
3. Nftychat | $1 million in financing｜Archetype led the round
On March 29, Web3 chat and social software Nftychat announced the completion of $1 million in financing. This round of financing was led by Archetype, with Coinbase Ventures participating. Angel investors included Balancer Labs CEO Fernando Martinelli, Ethereum core developer Tim Beiko, etc. .
【DeFi】
4. Composable Finance | Financing $32 million｜Coinbase Ventures and others participated in the investment
On March 31, DeFi protocol Composable Finance announced the completion of more than $32 million in Series A financing, GSR, Tendermint Ventures, Fundamental Labs, Coinbase Ventures, LongHash Ventures, Figment VC, New Form Capital, Blockchain Capital, Yunt Capital, Jump Capital, Polytope Capital, NGC Ventures, SOSV and Spartan Group participated in the investment.
The new funding will be used to expand the team and build products to further advance the blockchain and Web3 industry along the interoperability continuum.
5. DFlow | $2 million in seed round financing｜Multicoin Capital led the investment
On March 31, DFlow, a decentralized order flow market, completed a $2 million seed round of financing. This round of financing was co-led by Multicoin Capital and Framework Ventures, with participation from Cumberland (DRW), Parataxis Capital, and PetRock Capital. This round of financing will be used to recruit institutional market makers, establish partnerships, etc.
【NFT】
6. OnePlanet | Strategic financing of $3.35 million｜Hashed led the investment
On March 31, OnePlanet, the NFT market on the Terra chain, announced the completion of a $3.35 million strategic financing, led by Hashed, with participation from Animoca Brands, Galaxy Interactive, SkyVision Capital, SNOW and Pala.
Users can use LUNA or UST to purchase NFT on OnePlanet, and also get lower gas fees.
7. AFKDAO | DFG and others participated in the investment
On April 2, AFKDAO, an NFT lending platform, announced the completion of a seed round of financing. Digital Finance Group, Froyou Games, Genesis Block Ventures, Jsquare, LucidBlue Ventures, Multititude Tech Corp, Teoh Capital, SevenX Ventures, 151East VC and Raphael from Seed Club participated. cast. The specific financing amount has not been disclosed yet.
AFKDAO is a DeFi infrastructure that provides asset management and unsecured lending pools for utility NFTs.
8. Dank Bank | pre-seed round of financing 4.2 million US dollars｜Mechanism Capital and others participated in the investment
On April 2, Dank Bank, an NFT market focused on fragmenting well-known meme NFTs, announced the completion of a $4.2069 million pre-seed round of financing. This round of financing was participated by Mechanism Capital, Samsung NEXT, Morningstar Ventures, Starry Night Capital, Kyros Ventures, etc. Angel investors include former Coinbase Chief Technology Officer Balaji Srinivasan and others. Dank Bank is deployed on the Ethereum network and plans to deploy to Polygon in the next few weeks.
9. Fractal | Seed round financing $ 35 million ｜ Paradigm lead investment
On April 2, Fractal, the game NFT market launched by the co-founder of Twitch on Solana, completed a $35 million seed round of financing. This round of financing was led by Paradigm and Multicoin Capital, and Andreessen Horowitz (a16z), Solana Labs, Animoca Brands, Coinbase Ventures and others participated in the investment, and angel investors included Do Kwon, CEO of Terraform Labs. The financing will be used to accelerate the development schedule.
【GameFi】
10.Cross the Ages | $12 million in seed round financing｜Animoca Brands participated in the investment
On March 28, the NFT card game Cross the Ages (CTA) completed a $12 million seed round of financing, with an undisclosed valuation. Animoca Brands, Ubisoft, Polygon, The Sandbox co-founder and COO Sebastian Borget, etc. participated in the investment. The new funds will be used for development programs, talent retention and go-to-market activities. A beta version of the game will launch in late May, and virtual and physical cards will launch in June, followed by an NFT marketplace and DeFi protocol.
11. Ampverse | A round of financing of 12 million US dollars｜Falcon Capital led the investment
On March 29, Ampverse, a P2E e-sports start-up team, announced the completion of a US$12 million Series A round of financing, led by Falcon Capital, Vulpes, Gandel Invest, former Disney Southeast Asia managing director Rob Gilby, GoGame CEO David Ng, Culture Group CEO Michael Patent, etc. Participate in voting.
Founded in 2019, Ampverse's "P2E" business allows players to receive training from professional e-sports players and earn rewards by participating in games such as Axie Infinity, Townstar, and Spider Tanks. The round will be used to expand in Indonesia and the Philippines, acquire more esports teams, and expand Ampverse's gaming revenue segment.
12.Crypto Raiders | Financing $6 million｜DeFiance Capital led the investment
On March 30, Crypto Raiders, a Polygon-based RPG chain game, announced the completion of $6 million in financing. This round of financing was led by DeFiance Capital and Delphi Digital, with participation from GuildFi, Merit Circle and Yield Guild Games. This round of financing will be used to expand the team size and invest in NFT.
13.Battlebound | $4.8 million financing｜a16z led the investment
On March 31, the P2E game startup Battlebound announced the completion of US$4.8 million in financing, led by a16z, Play Ventures and Dapper Labs and other institutions, as well as Yield Guild Games CEO Gabby Dizon, Dapper Labs CEO Roham Gharegozlou and a16z consultant Alex Angel investors such as Price participated in the investment. This round of financing will be used to expand the size of the team and release the two games it is developing in stages.
14.Footium | $3.35 million in seed round financing｜Backed VC led the investment
On March 31, football game Footium announced the completion of a US$3.35 million seed round of financing, led by Backed VC, Animoca Brands, Stride.VC, Entrée Capital, RLC Ventures, IVC, Yield Guild Games SEA, BAYZ, BlackPool DAO and Merit Circle, etc. Institutions participated. This round of financing will be used to expand the team and improve the beta development of the game based on user feedback.
15GEMS | Financing $5 million｜Project Seed and others participated in the investment
On April 2, the GameFi platform GEMS announced the completion of US$5 million in financing. This round of financing was led by Project Seed, FOTA, DreamQuest, World Overlay, Moon Ray, Starverse (AAA Games), OIG, Gain Associates, Crypto Vietnam, Kenzo Ventures, Plutus .vc etc. participated in the vote.
GEMS has reached cooperation with more than 30 blockchain and e-sports associations, and its next step is to launch an NFT market and a DeFi alliance.
About CGV FOF: CGV FOF is a fund of funds from Asia, focusing on investing in Crypto Fund and Crypto Studio. CGV FOF is composed of family funds from Japan, South Korea, mainland China and Taiwan, headquartered in Japan, and also has branches in Singapore and Canada.
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