Bitcoin (BTC) and the wider market for cryptocurrencies have provided very little comfort in recent weeks, as the macroeconomic headwinds and the collapse of the Terra ecosystem continue to resonate. But if we look beyond immediate price action, we are watching an industry that continues to grow and develop, in addition to attracting significant capital investment from major financiers. The latest version of Venture Capital (VC) Roundup underscores the continued growth of Web3 games, metaverse applications and even distributed financial (DeFi) protocols.
Connected: Crypto Biz: Smart Money bets big on Web3, track 2, 19.-25. May
Andreessen Horowitz supports Irreverent Labs
Blockchain video game maker Irreverent Labs has raised $ 40 million from venture capital firm Andreessen Horowitz (a16z) to promote the development of a comprehensive game-to-earn game from Mecha Fight Club.. Ariessen Simpson, Andreessen’s teammate, described the game’s “absurd” premise in a blog post: Family Guy, Monty Python and South Park. “
Announce our fourth cryptocurrency, totaling $ 4.5B, to invest in promising web3 startups at every level. This brings our total crypto / web3 funds raised over $ 7.6B.
General partner @cdixon shares more at https://t.co/xIezLlyDiC. https://t.co/Xc696Fu8UT
– a16z (@ a16z) May 25, 2022
A Canadian technology education company raises $ 7 million for a metaverse machine
Coding bootcamp company Lighthouse Labs recently closed a $ 7 million seed batch to further develop its so-called “open metaverse sailing machine”. The funding round was attended by some of blockchain’s largest VCs and investors, including Accel, BlockTower and Animoca Brands. Lighthouse Labs is developing a platform that allows users to search for places, events and experiences across the open metaverse. Jonathan Brun, co-founder and CEO of Lighthouse, said that access to Metaverse will soon evolve from a gaming experience to one that is closer to the web.
N3TWORK Studios closes Series A
Blockchain game publisher N3TWORK Studios has closed a $ 46 million Series A funding round to expand its footprint in the Web3 gaming industry. More specifically, the funding will help N3TWORK develop and launch its first two Web3 titles, Legendary: Heroes Unchained and Triumph. A Series was hosted by Griffin Gaming Partners, with additional contributions from Galaxy Interactive, Kleiner Perkins, KIP, Floodgate and LLL Capital.
Web3, the discussion about the town!
But what does it really mean and how does it work?
Well, we just made the video for you: https://t.co/5D2NF30JKt image.twitter.com/zMbp6uUMHH
– Cointelegraph (@Cointelegraph) March 27, 2022
Connected: In Economy 3.0, metavers will create jobs for millions
International hacker movement gets support from blockchain VCs
DoraHacks, a hacker movement offering Web3 development grants, has completed a $ 20 million funding round led by FTX Ventures and Liberty City Ventures. Other investors were Circle Ventures, Gemini Frontier Fund, Crypto.com Capital, Amber Group and Sky9 Capital. DoraHacks will use the funding to launch several projects, including the distributed DAAO grant community and a new venture capital fund that will invest in new technology companies.
DeFi protocol raises $ 30M
DeFi liquidity rules iZUMi Finance has closed a $ 30 million financing round to expand its ecosystem and launch a new diversified exchange in the BNB chain. Approximately one third of the funds were raised through bond certificates in Solv Protocol, a platform that enables the creation of new financial instruments that are displayed in the form of non-convertible tokens (NFT).
Connected: What is the total value locked (TVL) in cryptography and why does it matter?
DAO management platform closes funding round
Common, a community governance campaign for decentralized independent organizations, or DAOs, has closed a $ 20 million funding round to expand its platform and further diversify its operations. Common gives users the ability to create, manage and manage their own blockchain communities. The company claims to have 500 active communities including cryptographic projects dYdX, Axie Infinity, Solana and Polygon.
Explain DAOs in 5 words or less.
– Cointelegraph (@Cointelegraph) February 28, 2022
Centrifuge’s DeFi Code of Conduct has partnered with blockchain venture maker BlockTower to accelerate the financing of real-estate assets in the chain. To support this initiative, the partners secured $ 3 million in the sale of government bonds from both traditional investors and cryptocurrencies. The incorporation of real assets is considered by many to be an important step in further strengthening DeFi’s role in general finance. Centrifuge founder Lucas Vogelsang said his company’s partnership with BlockTower aims to “speed up the incorporation of DeFi into institutional capital.
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