When Otherdeed for Otherside NFT was released, the ETH gas fee rose rapidly, even breaking through 8000 Gwei, and many buyers made transactions with a gas fee of more than 2 ETH. This crazy gas fee war undoubtedly boosted the popularity of NFT again. Judging from the statistics of this week (19 projects in total), the number and amount of financing of NFT projects (5) continued to rise, leading the investment and financing market, while the popularity of GameFi projects (5) and DeFi projects (4) began to weaken , web3 infrastructure (5) is still the investment focus of investment institutions. 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 April 25 to May 1, 2022:

【infrastructure】

1.Blockmetrix | Financing $20 million | BankProv and others participated in the investment

On April 27, Blockmetrix, a bitcoin mining company headquartered in Dallas, Texas, announced the completion of a $20 million debt financing, with participation from crypto-friendly commercial bank BankProv and digital asset trading platform CrossTower. The new funds will be used to expand its operations, including buying more mining machines and investing in joint ventures (JVs) to build infrastructure.

2.Rain | $6 million in seed round financing | Coinbase Ventures and others participated in the investment

On April 27, the start-up company Rain announced the completion of a $6 million seed round of financing. This round of financing was led by Lightspeed Venture Partners, with participation from Coinbase Ventures, Uniswap Labs, and Terraform Labs.

Founded by Farooq Malik and Charles Naut, Rain aims to facilitate the growth of DAOs by providing them with corporate credit cards and expense management tools.

3. Ondo Finance | A round of financing of 20 million US dollars | Founders Fund led the investment

On April 27, the encryption startup Ondo Finance completed a US$20 million Series A financing. This round of financing was co-led by Founders Fund, a venture capital fund co-founded by Silicon Valley investor Peter Thiel, and Pantera Capital. Coinbase Ventures, Tiger Global, GoldenTree Asset Management, Wintermute, Flow Traders and Steel Perlot also participated.

Ondo Finance is an encryption startup that aims to build a decentralized bank. Ondo founder and CEO Nathan Allman said that its native token ONDO and a decentralized autonomous organization (DAO) are expected to be launched "in the next few weeks." .

4. Convex | A round of financing 26 million US dollars | a16z led the investment

On April 27, Convex, a web developer management platform, completed a US$26 million Series A round of financing led by a16z. Martin Casado, a general partner of a16z, will join the Convex board of directors. Angel investors include former GitHub CEO Nat Friedman, Alphabet board member Ram Shriram, and Creative Artists Agency founder Michael Ovitz, among others. Convex expects to open the beta to more developers in the coming weeks.

Convex is a global state management platform for web developers, designed to allow developers around the world to build complex, dynamic, global stateful applications without any backend engineering.

5. Argent | $40 million in Series B financing | Fabric Ventures led the round

On April 28, Argent, a smart contract wallet, announced the completion of a $40 million Series B round of financing led by Fabric Ventures and Metaplanet, with participation from Paradigm, Index Ventures, Creandum, Starkware, Jump Trading, and Animoca Brands. Funding from this round will be used to develop products and expand its operations in Latin America.

【DeFi】

6.Vertex Protocol | $8.5 million in seed round financing | Hack VC and others led the investment

On April 26, Vertex Protocol, Terra's ecological decentralized foreign exchange platform, completed a seed round of financing of US$8.5 million. This round of financing was led by Hack VC, Dexterity Capital, Jane Street, and Hudson River Trading. Funds from this round of financing will be used to expand the team, expand the protocol, and develop the backend.

The official launch of Vertex is planned for summer 2022. Currently, the Vertex Protocol testnet DApp has been launched, and users can trade derivatives and provide liquidity on the Terra chain.

7. DEX Tonic | $5 million financing | Electric Capital led the investment

On April 26, NEAR ecological DEX Tonic announced the completion of US$5 million in financing. This round of financing was led by Electric Capital and MOVE Capital, dao5, Framework Ventures, NetZero Capital, Daedalus, Bixin Ventures, and market makers GSR, Wintermute, Flow Traders, Cumberland and Jane Street also participated.

Tonic is a decentralized protocol built on NEAR that can be used to quickly and seamlessly trade any asset on NEAR and Aurora, and will first build an open source order book DEX on NEAR.

8. Amulet Protocol | $6 million in seed round financing | led by gumi Cryptos Capital

On April 28, Amulet Protocol, the Solana ecological decentralized insurance agreement, announced the completion of a $6 million seed round of financing. This round of financing was led by gumi Cryptos Capital, with Republic Crypto, Solana Ventures, DeFiance Capital, Animoca Brands, United Overseas Bank, UOB -Signum Blockchain Fund, Mirana, NGC Ventures, LongHash Ventures, Seven X Ventures, CMT Digital, Matrixport, a41 Ventures, Solar Eco Fund, Daedalus, Cobo Wallet, Re7 Capital, etc. participated in the investment.

Amulet leverages Solana's PoS network to provide stable returns, and provides insurance services with its unique protocol-controlled underwriting and claims mechanism backed by future earnings, minimizing risk for underwriting capital providers.

9. Mangata | Financing 4.2 million US dollars | Altonomy and others participated in the investment

On April 28, Mangata, Polkadot's ecological cross-chain decentralized trading platform, completed a financing of US$4.2 million at a valuation of US$60 million. This round of financing was led by Altonomy, Polychain, TRGC, Signum Capital, Headline, Figment, ZMT Capital, AngelDAO and Paribu Ventures and others participated in the investment.

【GameFi】

10. OpenBlox | A round of financing of 34 million US dollars | a16z led the investment

On April 20, the digital identity authentication company Spruce announced the completion of a $34 million Series A round of financing led by Andreessen Horowitz (a16z), Ethereal Ventures, Electric Capital, Y Combinator, Okta Ventures, SCB 10X, Robot Ventures, OrangeDAO Wait to vote.

11. Ola GG | $8 million in seed round financing | Galaxy Interactive and others participated in the investment

On April 26, the game guild Ola GG (Ola Guild Games) completed a $8 million seed round of financing, Galaxy Interactive, BITKRAFT, Arca, Com2Us, Cultur3d, Huobi Ventures, Spark Capital, Blocktower, IVC, Morningstar, Sangha Capital, Mentha, Actai Ventures, Valhalla Ventures, Polygon, Crypto.com, The Venture City, YGG SEA, IndiGG, Bitscale, Fir Capital, etc. participated in the investment. The financing will be used to acquire revenue-generating NFTs, provide language-specific educational content, and drive adoption of P2E games in Spanish-speaking communities in Latin America (LATAM), the US, and Spain. Ola GG is the regional subDAO of Yield Guild Games (YGG), a decentralized gaming guild.

12. YGG SEA | Financing $15 million | Animoca Brands and others participated in the investment

On April 27th, YGG SEA, a subsidiary of the chain game association YGG, announced that it has obtained US$15 million in two different rounds of private financing. The first round of financing was led by YGG and Infinity Ventures Crypto (IVC), and the follow-up financing was led by Crypto.com Capital , Animoca Brands, Jump Capital, Circle, Digital Currency Group, Hashed, Polygon, Bukalapa, etc. participated in the investment. It is understood that YGG SEA is the first regional sub-DAO of Yield Guild Games, focusing on players from Malaysia, Indonesia, Vietnam and Thailand. This round of financing will be used to promote the development of the chain game market in Southeast Asian countries.

13. Playmint | $4 million in financing | Bitkraft Ventures leads the round

On April 27, the game studio Playmint completed $4 million in financing. This round of financing was led by Bitkraft Ventures, with participation from 1kx, Cherry Ventures, Ethereal Ventures, and Play Future Fund. Funding from this round will be used to expand its team of artists, game designers and engineers.

14. TEAM DAO | $5 million in Series A financing | Animoca Brands leads the round

On April 29, TEAM DAO, a tokenized e-sports asset management agreement, completed a US$5 million Series A financing led by Animoca Brands and Krust Universe. Great South Gate, Shima Capita, Anti Fund, Algorand, GSR, NGC Ventures, Libra Ventures, Nexo Capital, EX Capital, CoinHako, Octava, etc. participated in the investment.

TEAM DAO aims to enable ordinary players and institutions to participate in GameFi with fair use of database and middleware infrastructure. This round of financing will be used for infrastructure development, expanding the size of the team, and expanding its player base.

【NFT】

15. PROOF | $10 million in financing | Seven Seven Six leads the round

On April 26, PROOF, the parent company of Moonbirds, announced the completion of US$10 million in financing. This round of financing was led by Seven Seven Six, a venture capital subsidiary of Reddit co-founder Alexis Ohanian, and True Ventures, a venture capital subsidiary of PROOF founder Kevin Rose, participated in the investment.

16. CXIP Labs | $6.5 million seed round | Courtside Ventures leads

On April 27, CXIP Labs, the NFT foundry agreement, announced the completion of a $6.5 million seed round of financing. This round of financing was led by Courtside Ventures and Wave Financial, Vaynerfund, Arca NFT Fund, Infinity Ventures Crypto, Kenetic Capital, Mirana Ventures, Company Ventures, Avalaunch, Soma Capital, Kosmos VC and Palm Drive Capital participated in the investment, and angel investors included Diplo, Gmoney, Nadya and NFT artist Justin Aversano. The financing will be used to launch Holograph, a full-chain NFT protocol for NFT creators and enterprises.

17. OurSong | $7.5 million in seed funding | Infinity Ventures leads the round

On April 28, OurSong, a music NFT platform, announced the completion of a US$7.5 million seed round of financing led by Infinity Ventures and Animoca Brands. This round of financing will be used to expand the team, establish partnerships, and carry out NFT-related knowledge training and publicity for artists.

The OurSong mobile app was launched in early February this year and currently has 150,000 users. The platform allows artists to upload creative content and mint it as NFT. The app has been deployed to networks such as Ethereum and BNB Chain, and is expected to be launched with Polygon in the next few days. compatible.

18. Venly | $23 million Series A | Courtside Ventures leads

On April 28, Venly, an NFT tool provider, announced the completion of a 23 million round A round of financing led by Courtside Ventures, Transcend Fund, Coinbase Ventures, Tioga Capital, High-Tech Gründerfonds, Fortino, Plug and Play, Leadblock Partners, Imec Istart, Powerhouse and Alpaca VC participated in the investment. The financing will be used to expand the team and form new partnerships.

Venly was established in 2018, formerly known as Arkane Network, which mainly provides solutions such as digital wallets, NFT markets, and NFT tools. Its customers include The Sandbox, Bondly, and gaming giant Ubisoft.

19. Revise | $3.5 million in seed funding | Alpha Wave Global leads the round

On April 29, Revise, a Polygon-based programmable NFT solution provider, completed a $3.5 million seed round of financing, led by Alpha Wave Global and 8i, Bharat Founders Fund, Polygon founder Sandeep Nailwal, DeFi Pulse founder Scott Lewis, AngelList Utsav Somani, head of India, Pranav Maheshwari, engineer at The Graph, and Rahul Chaudhary, founder of Treebo, participated in the round.

Revise aims to help NFT projects improve data source interaction capabilities, including interacting with Web 3 platforms such as Chainlink.

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. CGV FOF includes MetaEstate, EstateTrader, Everland and other brands and companies.