This week, the encryption market ushered in an overall decline. Both BTC and ETH fell by 6%, and the overall market liquidity tightened. From the statistics of this week (9 projects in total), the investment and financing markets of NFT (2), Game (3), and DeFi (3) projects began to recover, and the investment and financing of Web3 infrastructure projects (1) The number is slowing down. 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 August 29 to September 4, 2022:
【infrastructure】
Sei Labs | $5 million in seed round financing｜Multicoin Capital led the investment
On August 31, crypto startup Sei Labs completed a $5 million seed round of financing, led by Multicoin Capital, with participation from Coinbase Ventures, GSR, Flow Traders, Hudson River Trading, Delphi Digital, and Tangent.
Sei Network is a Layer 1 blockchain built using the Cosmos SDK and Tendermint with a built-in Central Limit Order Book (CLOB) module.
【DeFi】
GammaX | Financing $4 million｜StarkWare and other leading investors
On August 29, Singapore-based cryptocurrency derivatives trading platform GammaX completed $4 million in financing, led by StarkWare and Dexterity Capital, with participation from Alphanonce, Cobo, Genesis Trading, Kyber, Ledger Prime, Matrixport, Profluent, Uncorrelated and 01Node .
GammaX is a decentralized derivatives trading platform built on StarkEx. It plans to open the test network in the next few weeks. The test network supports BTC/USDT and ETH/USDT transactions with a leverage of up to 20 times. The main network is expected to be launched this fall. Available at a later date.
Clockwork | Financing $4 million｜Multicoin Capital and other leading investors
On August 30, Clockwork, the Solana ecological decentralized automation network, completed a $4 million seed round of financing, led by Multicoin Capital and Asymmetric, and participated by Solana Ventures and El Cap Ventures. This round of funding will be used to expand the team, build the community, and support integrations with partner projects.
GoGoPool | $5 million in financing｜Framework Ventures leads the round
On August 31, GoGoPool, Avalanche’s ecological liquidity staking platform, announced the completion of a $5 million financing. This round of financing was led by Framework Ventures and Coinfund, with participation from Avalaunch, Republic Capital and Flow Traders.
Funds from this round will be used to expand the GoGoPool team, accelerate product development ahead of mainnet launch, and develop new open-source tools for subnets.
【Game】
Limit Break | Financing $200 million｜Paradigm and others lead the investment
On August 29, Limit Break raised $200 million through two rounds of financing, led by Josh Buckley, Paradigm and Standard Crypto, and participated by FTX, Coinbase, Positive Sum, Shervinator and Anthos Capital.
The new funds will be used to develop Web 3 MMO games. The founder of Limit Break launched a new model "Free to Own" (F2O), that is, "free to own", which is created based on the free casting of Genesis NFT. These genesis NFTs produce other NFT series through airdrops and more methods, none of which involve fundraising.
Xterio | Financing $40 million｜FTX Ventures and other leading investors
On August 30, Xterio, a Web3 game developer and publisher, announced the completion of $40 million in financing, led by video game developer FunPlus, venture capital firm Makers Fund, FTX Ventures and blockchain game platform XPLA, Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto and Matrix Partners also participated. This round of financing adopts the form of Token sales, and the post-investment valuation reaches 300 million US dollars.
Xterio plans to use the proceeds to develop and publish Web3 games and expand its team, co-founder Jeremy Horn said, "The product will be the same quality as the best console games."
Internet Game | $7 million in seed round financing｜ParaFi Capital and others participated in the investment
On September 3, Internet Game, a Web3 live broadcast quiz game, announced the completion of a $7 million seed round of financing. This round of financing was led by ParaFi Capital, Dragonfly Capital, Dephi Digital, Uniswap Ventures, Collab+Currency, Gmoney, Milk Road, Ready Player DAO, HQ Trivia co-founder Rus Yusupov and Magic Eden co-founder Zedd also participated.
Internet Game's inaugural season kicked off in March, with 8,000 players minting $2.2 million worth of NFTs to gain access to the game. Each pledged "Game Token" NFT allows players to participate in five "squid-like games" within five days.
【NFT】
Tokenproof | Financing $5 million｜Penny Jar leads the investment
On August 30, Tokenproof, an NFT security startup, announced the completion of a $5 million financing led by Penny Jar, Corazon Capital, 6th Man Ventures, Canonical Crypto, and several angels including Sebastien Borget, Mark Cuban, Keith Grossman, and Patricio Worthalter Investors participate. Tokenproof's authentication mechanism keeps the actual NFT in cold storage, making it out of reach for fraudsters, and through an app allows its users to still prove they own the NFT, thereby unlocking the stake.
PROOF | A round of financing of 50 million US dollars｜a16z led the investment
On August 31, PROOF, the parent company of the NFT series Moonbirds, announced the completion of a US$50 million Series A financing. This round of financing was led by a16z, and Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, Vayner Fund, etc. participated in the investment .
PROOF is creating the Moonbirds DAO, which will oversee the licensing of the Moonbirds name by granting trademark rights and deploying capital to projects that further the Moonbirds mission. PROOF will also launch a third NFT series "Moonbird Mythics" with a total of 20,000 in early 2023. In addition, PROOF also revealed early plans to release PROOF Token, and more details will be released in 2023.
Registration for Japan's first Web3 Hackathon contest "TWSH" initiated by CGV is underway. TWSH event welcomes traditional Internet developers and blockchain developers who are interested in Web3 around the world, developers and engineers with innovation and creativity , product managers, UI designers, etc. to sign up.
About Cryptogram Venture (CGV): Cryptogram Venture (CGV) is an encryption industry research and investment institution headquartered in Japan with compliance qualifications. With "research-driven investment" as the business orientation, he has participated in early investments in projects such as FTX, Republic, CasperLabs, AlchemyPay, The Graph, Bitkeep, Pocket, and Powerpool, as well as the yen stable currency JPYW under the supervision of the Japanese government. At the same time, CGV FoF is the LP of Huobi venture, Rocktree capital, Kirin fund and other funds. Currently, CGV has branches in Singapore, Canada and China.
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