The 8th week of 2023 financing selection, the GameFi field is picking up strongly
According to BlockBeats statistics, the total number of financing last week was 33, which is a certain increase compared with last week , with a total amount of approximately US$270 million and an average financing amount of US$8.2 million, a significant drop from last week. Among them, the digital asset management/payment field occupies the main body, the financing in the infrastructure and metaverse/GameFi fields is relatively large, the financing in the social sector has increased significantly, the financing in the DeFi field is less, and there is no financing in the NFT field. The picture below shows the financing ratio of each sector last week:
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Metaverse/GameFi
A total of 8 financings in the metaverse/GameFi field, with a total amount of more than 53.8 million US dollars, accounting for 19.87% of the total financing last week.
Ajuna Network
Reason to watch: Ajuna Network won Polkadot's 31st parachain auction, which combines the game engine with the Polkadot blockchain, increasing Interoperability between games.
BlockBeats news, on February 10, according to CoinDesk, Web3 game platform Ajuna Network announced the completion of $5 million in financing, led by CMCC Global. In addition, this Friday Ajuna Network also launched the Awesome Ajuna Avatars NFT collection, which was inspired by the company’s flagship game BattleMogs. Ajuna Network previously raised $2 million in a seed round in February 2022 led by Fundamental Labs, with other investors including OKX Blockdream Ventures, Signum Capital and Animoca Brands, which invested in Ajuna’s parent company BloGa Tech AG.
Ajuna Network is a Web3 gaming platform for gamers and Developers can quickly integrate blockchain technology into their games, whether made with Unity or Unreal Engine. Developers can add tokenized currencies to their games in minutes, or leverage the SDK to integrate NFTs and other blockchain mechanisms.
Then, Ajuna will help promote the game and attract the attention of gamers, and the final income is through NFTs sold in its games are earned, and there is potential for interoperability between any game using the Polkadot chain.
Mino Games
Reason for attention: Mino Games was selected for YC Summer 2011, and in 2012 Received a $2 million seed round led by a16z.
BlockBeats news, on February 9, according to VentureBeat, mobile game company Mino Games completed a $15 million financing round, led by Standard Crypto, with participation from Boost VC, Collab Currency, Earl Gray Capital, and Konvoy Ventures. Fundraising will be used to build a Web3-enabled Dimensionals collectible role-playing game. Mino Games is transforming into a Web3 game developer with the new Dimensionals series of games.
It is reported that Mino Games has raised $25 million so far, and investors include Sybo Games and Andreessen Horowitz.
Mino Games has attracted experienced talent from major game manufacturers such as Electronic Arts and Zynga, The company's team members are located in Asia, Europe, Latin America and North America, currently has 80 people, and plans to expand the team size by 50% by the end of the year.
Kingdomverse
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Reason for attention: Free To Play's multi-chain "Mobile Game Metaverse" has participated in TGS 2022.
BlockBeats news, on February 7th, Kingdomverse, a mobile terminal metaverse chain game, completed a US$3.6 million seed round of strategic financing, and the specific financing information has not yet been disclosed. Kingdomverse aims to create a "mobile game universe" composed of multiple mobile games connected in series. “Mobile Universe” is not only a game for players, but also a hub connecting different NFT projects. In Kingdomverse, game assets of different NFT projects support interoperability to achieve composability expansion among different projects.
At present, Kingdomverse has launched its first first-party game "Defend the Kingdom". The game is a casual mobile tower defense game in which players can use different "heroes" to form formations and place them on the board to fight against enemies. The game has no entry threshold and is free to play. Only "heroes" with 4 stars or above can be traded as NFT assets. Outside of the Ethereum and Polygon networks, the game will soon support Immutable X and more other public chains.
Overworld
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Reason for attention: Xterio Co-Founder&COO leader, fantasy style MMORPG game
The Overworld team consists of Xterio Co-Founder&COO Jeremy Horn as CEO, and 8 other Industry insiders from Riot Games, Disney, Krafton, Jam City, and Ubisoft. Currently, Overworld is still hiring to expand the team. It is reported that Overworld will use the new funds to create a fantasy-style MMORPG game that can be played for free and will support cross-game interoperability.
The company plans to launch the first version of the game digital collection in Q2 this year. The game digital collection will be a PFP series, and holders will get early access to the game As well as other exclusive rewards, the closed beta of the game is planned to start in Q4 this year. Overworld stated that it will not issue its own encrypted Token, but there is an optional option to purchase assets on the chain through Xterio Token.
DeFi
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A total of 2 financings in the DeFi field, with a total amount of 3.2 million US dollars, accounting for 1.18% of the total financing last week.
Cedro Finance
Reason for attention: Against the backdrop of the growing momentum of the Ominichain concept, the cross-chain seamless reception protocol in the DeFi field may receive more attention.
BlockBeats news, on February 7th, the full-chain lending agreement Cedro Finance announced the completion of a $1.5 million seed round of financing. This round of financing was led by Shima Capital and Infinity Ventures Crypto (IVC) , Mask Network and Sam Thapaliya participated in the vote. The new funds will be used to expand the team on the Cedro platform and build out the Ominichain liquidity platform. Cedro Finance allows users to borrow and lend seamlessly across chains, and is currently planning to launch multiple Cedro-based products. Cedro Finance has been running on testnet since December 2022.
Cedro Finance is a cross-chain decentralized liquidity protocol, one of its main goals is Acts as a cross-chain liquidity layer over time. Users can borrow and borrow listed assets across multiple chains with affordable transaction fees, lenders are able to deposit their assets to increase the liquidity of the platform, and borrowers are able to borrow liquidity in an over-collateralized manner.
Cedro Finance consists of three main parts: Branch, Messenge and Root. Branch is deployed in multiple public chain ecosystems, and the chain interacts with Root, which is deployed on a single chain that stores the global state of the protocol and transmits information across chains. Branch and Root interact using Messenger.
CED is the native Token of Cedro Finance and will be deployed in all public chain ecosystems supported by the protocol . Cedro Finance earns income from protocol fees, 65% of the profits are allocated to the protocol treasury, 25% are allocated to CED and veCED holders, and veCED holders will also receive an additional 10% income distribution.
GammaSwap
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Reason for attention: The oracle-free derivatives protocol, which has attracted much attention from developers, will soon be launched on Arbitrum. Will it become a dark horse in the ecological upsurge?
BlockBeats news, on February 7, GammaSwap, a DeFi structured product, announced the completion of a $1.7 million seed round of financing, led by Skycatcher, Dialectic, Space Whale Capital, Modular Capital, Portico Ventures, Ouroboros Capital, Owl Ventures, RenGen, Manifold Trading and others participated in the investment.
Gammaswap is an oracle-free volatility decentralized exchange, through integration with DEX To enable users to obtain leveraged exposure to Token, it aims to solve the problem of impermanent losses allegedly occurring due to mispricing of volatility. GammaSwap will launch the Beta test network in Q1, and launch the Ethereum main network and Arbitrum network.
Gammaswap uses a different model from other protocols and does not need to rely on oracles. Most of the agreements that require oracle machines will rely on stable market makers, otherwise they will be vulnerable to flash loan attacks, or the price of the agreement collateral will be manipulated to the position of forced liquidation.
In addition, as a perpetual derivatives exchange, users can Short and long positions of Gamma volatility products are established in the liquidity pool to take hedging positions against the risk of impermanent losses, or use leverage to bet on volatility. Liquidity pools are often mispriced because if historical volatility is higher than implied volatility, impermanent losses will be higher than the fees incurred by the pool. If vice versa, then deploying funds in a pool should be considered profitable as transaction fees from volatility will compensate for impermanent losses.
Social/Creator Economy
A total of 4 financings in the social field, with a total amount of 27 million US dollars, accounting for 9.97% of the total financing last week.
Cub3
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Reason for attention: A loyalty platform that can be freely customized and automatically distributes rewards, integrates an AI motion recognition system, and extends loyalty behaviors to real life , designed to help creators establish a deeper connection with fans.
BlockBeats news, on February 9, Web3 loyalty platform Cub3 completed a $6.5 million Series A financing, led by Bitkraft and Fabric Ventures, CMT Digital, Red Beard Ventures and Geometry Labs, etc. Participate in voting. The Cub3 platform helps brands create loyalty programs and incentivizes users to complete tasks in the form of Tokens.
Using Cub3, creators can automatically reward any interaction online or offline, and guide People do the behaviors that matter most to them. Cub3 integrates an AI motion recognition system that can extend loyalty behaviors to real life, rewarding people for every action, such as members dancing on TikTok or attending events. Offer rewards such as on-chain digital collectibles for ease and transparency of transactions. Leveraging status and belonging through customizable, fun and meaningful rewards, Cub3 helps creators create an emotional connection between fans that is stronger than ordinary loyalty systems, making fans feel like they are part of something great and more It is possible to stick to it.
Vault
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Reason for attention: FanDuel, the leading sports betting company, launched a new music NFT form DMC, aiming to make it "the vinyl of the new era" record".
BlockBeats news, on February 9th, according to AlleyWatch reports, Vault, a decentralized digital music protocol builder, completed a $4 million Series A round of financing, led by encryption investment company Placeholder VC. AlleyCorp, Bullpen Capital and Everblue Management, which have previously invested in the company, also participated. So far, the company's total financing amount has reached 13 million US dollars.
Vault designed the decentralized protocol "Digital Music Collectible" (Digital Music Collectible, DMC) on Solana. By building an open and fully decentralized music network, artists can use the DMC protocol to make limited collections with their music and sell them to fans, and artists can get more than 80% of the sales revenue. Fans can share, play and purchase music in the form of DMC on websites including third-party applications. Vault has already partnered with big names like FLETCHER to make DMC the vinyl of the new age.
SPACE ID
Reason for concern: SPACE ID is building a common naming standard and a software development kit (SDK), which not only brings users Web3 interaction comes flexibility and simplicity, and bridges the gap between Web2 and Web3 applications.
BlockBeats news, on February 7, the decentralized identity protocol SPACE ID completed a US$10 million strategic round of financing, with Polychain Capital and dao5 leading the investment, and Foresight Ventures participating. As previously reported, in September last year, SPACE ID completed a seed round of financing led by Binance Labs and launched the .bnb domain name service.
SPACE ID is building a network of common name services with a one-stop identity platform to discover , register, trade, and manage web3 domain names, it also includes a Web3 name SDK & API for cross-blockchain developers, and provides multi-chain name services for everyone to easily build and create a web3 identity. In terms of team, SPACE ID is composed of experienced engineers and Web3 enthusiasts.
In September 2022, SPACE ID launched its .bnb domain public registration, in this 6 It quickly gained around 370,000 registrations and 175,000 unique domain holders within a month. Currently, .bnb domain name service has security integration with more than 100 leading projects and protocols including BSCScan, Trust Wallet, etc. In February 2023, the SPACE ID team announced the 2.0 upgrade and merged with ARB ID, which will soon launch its .arb domain pre-registration.
Infrastructure
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A total of 7 financings in the field of infrastructure, with a total amount of more than 37.82 million US dollars, accounting for 13.97% of the total financing last week.
Dymension
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Reason for attention: Combining the modular concept of Cosmos SDK and Celestia, a new potential player of modular blockchain.
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BlockBeats news, on February 9, Dymension, a modular blockchain, completed a $6.7 million seed round of financing, led by Big Brain Holdings and Stratos, with participation from Matchbox DAO and Shalom Meckenzie of DraftKings. It is reported that Dymension co-founded Founder and CEO Yishay Harel began raising funds for this round in May last year, and Dymension also plans to continue raising about $20 million in new funding before the mainnet launch.
Dymension is a modular blockchain network that promotes RollApps, with the Dymension Hub at its center. Dymension allows anyone to build and deploy their own consensus-free blockchain RollApp. Dymension Hub is the settlement layer of the protocol and the decentralized network A true source of truth that provides consensus, security, and liquidity for RollApps.
RollApps uses Dymension’s The RollApp Development Kit (RDK) is built based on the popular Cosmos SDK. RollApp developers can choose the network Token, application logic and virtual machine that RollApp runs on. RollApps are similar to Cosmos' application chains, but will reach consensus overhead Outsourced to Dymension Hub.
RollApps consists of two core services, Client and Server. Server It is the application side specified for the RollApp deployer, which is used to implement custom business logic together with the pre-packaged modules of the RollApp Development Kit (RDK).The client component is called dymint, which is a fork of Celestia's rollmint and is Tendermint A drop-in replacement for , responsible for block production, peer-to-peer message propagation, and inter-layer communication.
Additionally, Dymension will launch its public testnet on February 15th. Harel said Dymension will launch an incentivized testnet in the second quarter of this year and a mainnet in the third quarter. The Dymension team currently has 9 employees and will expand the team in the near future.
VRRB Labs
Reason for attention: The new L1 public chain with a valuation of 20 million US dollars, invested by Jump Crypto.
BlockBeats news, on February 8th, according to The Block, Layer 1 public chain development team VRRB Labs completed a pre-seed round of financing of 1.4 million US dollars at a valuation of 20 million US dollars. The round of financing was participated by Jump Crypto, Big Brain Holdings and Taureon.
VRRB is designed to enable developers to build in any language of their choice with high speed, Scalable, designed for mass adoption. VRRB Labs proposed a new consensus algorithm, Proof of Claim (PoC). The PoC brings an innovative block and transaction verification process that enables high-throughput transactions and maintains security in a fully decentralized environment. VRRB has designed a unique unikernel smart contract container/library OS that allows developers to freely choose their favorite programming language (Python, Java, Rust, etc.) without having to learn a new programming language to enter Web3. The first beta testnet of VRRB is scheduled to be released next month, and the mainnet launch date has not yet been confirmed.
Cenoa
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Reason for attention: Cenoa can provide up to 8% USD stable currency yield, providing users with new options to fight inflation.
Cenoa is a US dollar wallet that can be used across borders, so it can provide legal currency users who suffer from high depreciation rates in emerging markets. A reliable store of value in dollars. Cenoa's goal is to add USD debit card functionality and instant payment settlement services to the product.
On February 6, Cenoa Wallet completed a financing of 7 million US dollars, led by Quite Capital and Underscore Human Capital, Ulu Ventures, Acrew Capital and Collective Spark participated in the investment. This round of financing will be used to expand markets in Latin America, Africa, Southeast Asia and Europe and recruit.
Digital asset management/payment
A total of 9 financings in the field of digital asset management/payment, with a total amount of more than 127 million US dollars, accounting for 46.99% of the total financing last week.
Coincover
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BlockBeats message, 2 month 9 On the 2nd, Coincover, a provider of digital asset protection and insurance, completed a financing of US$30 million, led by Silicon Valley investment firm Foundation Capital. This round of funding will be used for talent acquisition, product iteration, and seeking new partnerships. Coincover provides businesses, infrastructure providers and consumers with products related to asset protection from hacking or human error.
The company works with more than 300 businesses, including cryptocurrency custodian Fireblocks and cryptocurrency trading platform Bitso. In July 2021, Coincover completed a $9.2 million Series A round led by Element Ventures, with participation from DRW Venture Capital and Susquehanna Private Equity Investments.
Fierce
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BlockBeats message, 2 month 8 On the 27th, the financial application Fierce announced the completion of a US$10 million seed round of financing. This round of financing was participated by Pendrell, AP Capital, Wheelhouse Digital Studios and Space Whale Capital. It is reported that Fierce was launched by Cornish, the former chief technology officer of cryptocurrency exchange Gemini Trust. Fierce’s products include Fierce Cash accounts, FDIC-insured checking accounts, and debit cards that can use more than 55,000 free ATMs. The app is currently available for iOS and will launch on Android later this year. In addition, Fierce will also conduct regulated cryptocurrency trading later this year.
SALT
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BlockBeats news, on February 7, according to CoinDesk, Salt, an encrypted lending platform that was previously heavily influenced by FTX, completed a $64.4 million sale of shares to qualified investors. Series A financing, which SALT will use for new products and its growth strategy. In November 2022, Salt suspended deposits and withdrawals and stated that "the collapse of FTX has impacted our business," but did not disclose the specific amount of exposure to FTX.
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