According to BlockBeats statistics, there were a total of 11 financing deals last week, which is significantly less than before. The total amount raised was approximately $87.5 million, with an average financing amount of $7.9545 million. The infrastructure sector accounted for the majority of the deals, followed by social/creator economy. There was an increase in financing deals in the digital asset management/payment sector, while the metaverse/GameFi and other sectors had fewer financing deals. There were no financing deals in the NFT/digital fashion and DeFi sectors. The following chart shows the financing distribution across different sectors last week:

There were a total of 2 financings in the Metaverse/GameFi field, with a total amount of 6.4 million US dollars, accounting for 7.31% of the total financing amount last week.

Delabs Games

On July 25th, Web3 game developer Delabs Games announced the completion of a $4.7 million seed round of financing, with Hashed leading the investment and The Spartan Group, Planetarium, Polygon Labs, and Merit Circle participating. Delabs Games is a new Web3 game project launched by South Korean mobile game giant 4:33 Creative Lab, and will soon debut on the Polygon network.

Delabs Games has been developing three games, Rumble Racing Star, Space Frontier, and Metabolts, since 2021. Delabs Games is a game company founded by Joonmo Kwon, former CEO of Nexon. The goal of Delabs Games is to create fun games that can last for a thousand years. Delabs Games believes that games with blockchain technology can exist forever one day. This technology also helps Delabs Games create tools that allow the community to become developers of their favorite Delabs games.

Delabs Games' first game, "Rumble Racing Star," is currently in closed beta testing. Along with the development of several other RPG games, Delabs is focused on creating the most exciting games while also focusing on the unique dynamics of Web3. Delabs Games plans to release the "Delabs Adventure Pass" in April, which will integrate all Delabs games, enhance the player experience, and provide additional benefits.

Kandle.xyz

On July 25th, according to IndianWeb2, GameFi project Kandle.xyz announced the completion of a $1.7 million seed round of financing, led by Saama, with participation from PointOne Capital, Cloud Capital, Good Capital, Founder's Room, Seeders Fund, and CoinDCX CEO Sumit Gupta. Kandle.xyz offers cryptocurrency-based fantasy games where players can compete to win rewards. Kandle.xyz plans to release a project roadmap regarding token issuance, token utility, and the "P2E" model. Kandle (Kandle.xyz)'s flagship product is "Cryptofantasy League," which allows players to choose cryptocurrency as their battle token and compete against each other in portfolio battles. This unique intersection of gaming and cryptocurrency provides the platform with an important opportunity to attract users looking for alternative solutions to traditional cryptocurrency trading.

This platform has already conducted business in multiple countries/regions such as Indonesia, Vietnam, Nigeria, and India, and aims to further expand to Asia and North America. Kandle offers innovative fantasy games using cryptocurrencies, where players can compete for rewards. The project plans to release its roadmap on token issuance, token utility, and the "play-to-earn" mode, which aims to rethink the "earn-while-you-play" ecosystem.

NFT/Digital Fashion and DeFi

NFT/Digital fashion and DeFi fields are currently unavailable.

Social/Creator Economy

There were a total of 3 financing rounds in the social/creator economy sector, with a total amount exceeding 8.1 million US dollars, accounting for 9.26% of the total financing amount last week.

Hibiki Run

On July 24th, Hibiki Run, a Web3 digital music project, completed a million-dollar seed round of financing. Participating institutions and individual investors include Synergis Capital, NEAR Foundation, BitMart, TKX Capital, String Capital, Gravity Venture Capital, Yi Lu (co-founder of Weibo), AAG Ventures, and FutureMoney Group. The funds raised in this round will be used to accelerate the project's research and development and growth. After 5 months since the launch of the Hibiki Run app, the number of NFT holding users on the platform has exceeded 100,000, with over 20,000 daily active users and more than 7,000 rare NFT holding users.

Related reading: "Hibiki Run: A music exploration app based on Japanese pop culture."

Hibiki Run is a gamified digital music platform that aims to bring Japan's popular gachapon culture to Web3, creating a highly entertaining and highly scalable P2E social app. Currently, it has made good progress offline in Japan, holding multiple Tomo Night offline events in cities such as Tokyo and Osaka, and collaborating with well-known Japanese artists such as Canran Sekai, MIYABI, and the largest Web3 music platform Audius to release a collaborative NFT headphones.

Releap Protocol

On July 25th, Releap Protocol, a decentralized social graph protocol in the Sui ecosystem, announced the completion of a $2.1 million financing round with participation from Sui Foundation, GBV Capital, Big Brain Holdings, Shima Capital, Arweave Foundation, Assembly Partners, DWeb3 Capital, Impossible Finance, Solar Eco Fund, and MoveBit. Releap's core is a decentralized social graph running on the Sui blockchain. It aims to allow creators to retain ownership of the connections they establish with their audience. By creating fully customizable, user-owned social graphs, Releap enables creators to control their content and social relationships. The scalable architecture of Releap Protocol is designed to power the upcoming wave of social applications.

The architecture of the Releap protocol was designed with modularity in mind. Personal profiles play a central role, allowing users to build their social graph and communicate with each other. Profile owners can freely publish different types of content, including posts, comments, and mirrors. They can set rules for followers and customize the appearance and behavior of their profiles. On the other hand, users can follow profiles, collect publications, and participate in meaningful social experiences. The Releap Protocol has launched a social-focused ecosystem during its testing phase to promote growth for developers and users. Releap is currently in beta testing.

Other financing for social/creator economy includes:

On July 27th, decentralized social function platform Passage completed a $6 million private token financing, led by Akash Network, with participation from Druid Ventures, Vitwit, Cosmostation, Hyperchain Capital, Chorus One, and Cogitent Ventures. Passage will use the funds to further develop and build tools. Built on Cosmos and integrated with Sortium's artificial intelligence technology, Passage will publicly sell PASG tokens on StreamSwap on August 29th and launch a test version in the fourth quarter of 2023. (PR Newswire)

Infrastructure

There were a total of 3 financing deals in the infrastructure sector, with a total amount exceeding 60 million US dollars, accounting for 68.57% of the total financing amount last week.

Dmail Network

On July 24th, Dmail Network, a multi-chain Web3 infrastructure, announced the completion of its Pre-A round of financing. Amino Capital, OIG VC, Draper Dragon, KuCoin Labs, HG Ventures, Spark Digital Capital, Bixin Ventures, Wagmi Ventures, Gate Labs, Kretos Ventures, and Red Swiss were among the investors, and partnerships were established with Vespertine Capital, LoneLine, Lead Capital, TsingTing CapitalCatcher VC, and Black Ventures.

Dmail uses the "Internet Computer" as its engine to achieve distributed storage and privacy protection of information. It uses NFT to identify user identity and rights in email information, realizing horizontal connections between information, assets, storage, and DApps, breaking data silos, and becoming an important information exchange tool in the Web3.0 era. The Dmail Network aims to provide unified real-time messaging and notification services across multiple chains and applications, helping users stay connected in the constantly evolving digital environment, ensuring easy and seamless access to data and messages. Currently, there are 550,000 registered domain accounts and over 300,000 individual user addresses.

Flashbots

On July 25th, according to The Block, Ethereum infrastructure service Flashbots completed a $60 million Series B financing at a valuation of $1 billion. The funds will be used to develop the Suave platform, which allows users to "trade more cheaply and privately on the blockchain."

Flashbots is a development organization that provides blocks to validators running the Ethereum blockchain. MEV, or Maximum Extractable Value, is a technique that involves manipulating transaction order to take advantage of profitable on-chain transactions. Flashbots aims to reduce the negative network effects of MEV. They have created an open-source solution that allows miners on the POW protocol and validators on the POS protocol to collaborate more effectively with MEV searchers. It hosts private auctions separate from the memory pool. The system does not prevent all front-running on Flashbots, but it prevents queuing transactions from being visible in the public view by hiding them.

Aethir

On July 27th, Aethir, a decentralized GPU infrastructure project (Depin) established by senior professionals in the global cloud computing industry in Singapore in 2021, completed its Pre-A round of financing with a valuation of $150 million. Sanctor Capital, Hashkey, Merit Circle, and CitizenX jointly led the investment, with participation from Mirana Ventures, Animoca Brands, Momentum6, Big Brain Holdings, Builder Capital, Tess Ventures, Maelstrom (Arthur Hayes), Lapin Digital, and others. The total amount of financing has exceeded $9 million to date. Aethir aims to establish a globally scalable GPU cloud infrastructure in a decentralized manner. This investment has provided services to a growing customer base, including well-known enterprises, AI companies, and game studios, enabling Aethir to accelerate its global expansion in key markets such as Southeast Asia, Latin America, and North America, and strengthen its innovative decentralized cloud infrastructure.

Aethir's network helps gaming and artificial intelligence companies (regardless of size) deliver their products directly to consumers, no matter where they live or what hardware they have. Aethir solves the problem of market fragmentation in a way that can only be solved by decentralized cloud. The company, headquartered in Singapore, has a team of 68 dedicated employees.

Digital Asset Management/Payment

In the field of digital asset management/payment, a total of 2 financings were completed with a total amount exceeding 7 million US dollars, accounting for 8% of the total financing amount last week.

2MR Labs

On July 24th, according to e27, digital asset Launchpad platform 2MR Labs announced the completion of a new round of financing, led by Heliconia Capital under Temasek, with participation from Plug and Play APAC, The Assembly Place, PG, and LucidBlue Ventures. The specific amount of financing has not been disclosed. 2MR Labs will use the new financing to support companies' Web3 technology transformation through Launchpad. Currently, it has established strategic alliance partnerships with cold wallet provider UKISS Technology, Web3 game platform MetaOne, and global entrepreneurship and innovation platform Plug and Play APAC.

Other Financing

Other financing totaled 1 transaction, with a total amount of 6 million US dollars, accounting for 6.86% of last week's total financing. Including:

On July 25th, according to Fortune magazine, encryption chip company Fabric Cryptography announced the completion of a $6 million Pre-Seed round of financing, led by Metaplanet, with participation from Nil Foundation, Inflection, Novawulf, and Era. The company's co-founder and CEO, Michael Gao, declined to provide valuation information for this round of financing, but revealed that the chip they are designing has already received an order worth $50 million and has signed a letter of intent for a transaction worth about $100 million with a potential buyer. Fabric Cryptography is a startup focused on developing advanced encryption algorithm hardware, especially dedicated computer chips for zero-knowledge proof technology. Last week, Fabric Cryptography also partnered with ZK technology developer Nil Foundation to launch a decentralized market for encryption and outsourced proof generation.

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