2 years ago
Venture superior backing successful the cryptocurrency marketplace is showing nary signs of slowing, arsenic large investors proceed to backmost promising startups successful niche industries spanning the metaverse, nonfungible tokens (NFTs) and GameFi.
Cointelegraph’s caller series, VC Roundup, provides a rundown of immoderate of the biggest backing stories of the past fewer weeks. To enactment informed connected the latest developments from the satellite of blockchain business, beryllium definite to registry for our Crypto Biz newsletter, which is delivered to your inbox each Thursday.
Animoca Brands leads NFT3 raise
Web3 individuality web NFT3 raised $7.5 cardinal successful effect investments to proceed gathering its decentralized individuality and recognition web platforms. The backing was led by Animoca Brands with further information from LD Capital, CMS Holdings, Tenzor Capital, Ankr Network, DFG Group, Prometheus Labs Ventures and others.
NFT3 is utilizing nonfungible tokens for Digital Identity Systems, besides known arsenic DIDs, which are considered to beryllium the adjacent frontier of integer individuality successful the Web3 age. Animoca co-founder Yat Siu described NFTs arsenic being the “cornerstones of individuality successful Web3” and an progressively important constituent of the metaverse.
Related: Polygon raises $450M successful Sequoia-led backing round
Hartmann Capital launches metaverse fund
Crypto-focused concern steadfast Hartmann Capital has raised $30 cardinal for its metaverse fund, perchance opening the doorway to caller concern opportunities successful the emerging sector. The Hartman Metaverse Ventures I seeks to put successful assorted aspects of the metaverse sector, including infrastructure, contented and entree points. The institution said it volition backmost “early-stage token and equity deals” and prosecute further concern opportunities via its NFT portfolio.
Arca closes $50M NFT fund
Crypto plus absorption steadfast Arca has created a caller hedge money merchandise that allows fiscal institutions to much seamlessly integrate nonfungible tokens into their portfolios. The NFT Arca Fund, which reached its $50 cardinal headdress successful an oversubscribed raise, aims to make output and equity done NFT purchases. The caller Arca money volition absorption connected integer property, integer collectibles, in-game assets and individuality tokens.
Big banks spent years calling Bitcoin and crypto a scam. But present they judge crypto is simply a "maturing plus class" akin to the net successful the mid-1990s. CT Business Editor @forgeforth_ has the scoop. https://t.co/RHgI3qlrNb
— Cointelegraph (@Cointelegraph) February 11, 2022NFT marketplace aggregator Hyperspace raises $4.5M
Solana NFT marketplace aggregator Hyperspace precocious closed a $4.5 cardinal effect circular with backing from Jump Capital, Galaxy Digital, Coinbase Ventures, Soma Capital, Solana Capital and others. Hyperspace volition usage the caller financing connected merchandise development, gathering in-house capableness and expanding its selling efforts.
Hyperspace provides an aggregation platform, allowing users to observe and store NFTs crossed the full Solana ecosystem. It besides allows users to mint and commercialized NFTs straight connected Hyperspace.
Related: Solana ecosystem wallet Phantom raises $109M
Alexis Ohanian’s 776 to beryllium bulk crypto by extremity of 2022
Reddit co-founder Alexis Ohanian is nary alien to the cryptocurrency market. His task superior firm, 776 Management LLC, was down a $100 cardinal Web3 maturation fund successful November 2021 alongside Solana Ventures. Now, Ohanian’s 776 has launched 2 caller funds, collectively worthy $500 million, dedicated to investing successful startups astatine assorted stages successful their development. While Ohanian didn’t springiness circumstantial numbers, helium told The Wall Street Journal that crypto “will beryllium the bulk of the portfolio by the extremity of this year.”
Ohanian's Seven Seven Six task superior steadfast is partnering with Polygon to backmost projects astatine the intersection of societal media and Web 3.0. https://t.co/EEpSduJB91
— Cointelegraph (@Cointelegraph) December 17, 2021Ohanian’s increasing involvement successful crypto is based connected his appraisal of wherever the endowment is going. “Talent has ne'er led maine wrong,” helium said, referring to the monolithic influx of bundle developers to the cryptocurrency industry. According to task steadfast Electric Capital, astir 34,000 caller developers contributed to open-source crypto projects successful 2021, the highest connected record.
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