According to incomplete statistics from CoinVoice, more than 20 blockchain project financing cases were announced this week (August 19-August 23). There were two financings of tens of millions of dollars this week, including PIP Labs, the core contributor team of the intellectual property blockchain Story, which completed a $80 million Series B financing led by a16z crypto. Polychain participated as a strategic investor, which was the largest financing event this week. Other popular projects include SatLayer, a Bitcoin re-staking platform, GenLayer, a decentralized artificial intelligence network, and Corn, a Bitcoin ecological income network. In the investment and financing segment, Web3 and AI fields are relatively hot this week. The following is a list of financing events this week.
Bitcoin L2 Project Ark Labs Completes $2.5 Million Pre-Seed Round of Financing
Bitcoin L2 project Ark Labs announced the completion of a $2.5 million Pre-Seed round of financing, led by Tim Draper and Draper Ventures, with participation from Fulgur Ventures, Axiom Capital and Bitcoin angel investor Stephen Cole. The new funds will be used for its development and to introduce top talent.
It is reported that the Ark Protocol is an open source second-layer protocol designed to be used in conjunction with the Lightning Protocol to achieve fast, low-cost and seamless payments in Bitcoin without affecting decentralization or self-custody.
Crypto startup Sorella Labs completes $7.5 million seed round led by Paradigm
According to The Block, Sorella Labs, a crypto startup aimed at solving Ethereum's MEV problem, has completed a $7.5 million seed round of financing led by Paradigm, with participation from Uniswap Ventures, Bankless Ventures, Robot Ventures and Nascent.
It is reported that in order to curb MEV attacks, Sorella Labs is developing two tools, Brontes and Angstrom. Brontes has been launched today, and Angstrom is expected to be released after Uniswap V4 goes online on the mainnet later this year.
Bitcoin L2 Project Ark Labs Completes $2.5 Million Pre-Seed Round of Financing
Bitcoin L2 project Ark Labs announced the completion of a $2.5 million Pre-Seed round of financing, led by Tim Draper and Draper Ventures, with participation from Fulgur Ventures, Axiom Capital and Bitcoin angel investor Stephen Cole. The new funds will be used for its development and to introduce top talent.
It is reported that the Ark Protocol is an open source second-layer protocol designed to be used in conjunction with the Lightning Protocol to achieve fast, low-cost and seamless payments in Bitcoin without affecting decentralization or self-custody.
Decentralized biotech protocol BIO Protocol has completed $11.81 million in financing
Decentralized biotech protocol BIO Protocol announced on August 20 that it had completed its first round of Genesis auction financing of US$6.22 million, exceeding the original target of approximately US$5 million.
Currently, investors who participated in the first round of financing can start claiming $BIO tokens, 50% of which are available immediately, and the other 50% will be unlocked linearly over a year (called vBIO).
It is worth noting that BIO's financing accounts for more than half of the total amount of all public sales in August this year (US$11.81 million). BIO Protocol also stated that it plans to launch a new round of financing.
Web3 AI social platform Reflection AI completes seed round financing, CGV FOF and others participate
Web3 AI virtual personality social platform Reflection AI completed its seed round of financing, with participation from CGV FOF, K24 Ventures and CatcherVC.
Reflection AI aims to provide users with a decentralized, secure and highly personalized virtual social space by combining cutting-edge AI and blockchain technologies. Reflection AI's core advantages include a unique AI computing system, a distributed computing network, and an innovative computing power token conversion mechanism. The platform supports users to create and cultivate AI virtual personalities with autonomous learning capabilities and interact deeply in the AI-driven virtual world.
Web3 game development company Nexus Interactive has completed $2 million in seed round financing
Web3 game development company Nexus Interactive announced on the X platform that it has completed an oversubscribed seed round of financing of US$2 million, with participation from Animoca Brands, Jump Crypto, Maven Capital, GameFi ventures, Sky Vision Capital, Aquanow, OIG (Oracles Investment Group), Virtuals IO, Atesis Capital, Enzac Research Avocado Guild, Good Games Guild, RR2 capital and others.
Currently, Nexus Interactive owns three infrastructures: internal development studio Nexus Play, Web3 game distribution service Nexus Build, and content and community growth project Nexus Share. It is reported that the public beta version of its flagship game Everdawn Champions will be launched in September this year.
ZK identity verification solution zkMe completes $4 million seed round investment
According to official news, zkMe, a zero-knowledge proof identity authentication solution provider, announced the completion of a $4 million seed round of investment, led by Multicoin Capital, with participation from OKX Ventures and Robot Ventures. The funds will be used to optimize the zkMe zero-knowledge identity protocol, which has been online for 13 months, and develop zero-knowledge identity layer infrastructure to build a more complete zkMe privacy identity layer network, which is expected to be officially launched in Q4 2024.
It is reported that zkMe is committed to providing decentralized compliance services that meet FATF standards through cryptography, and providing comprehensive credential verification solutions for the Web3 industry to cope with the EU MiCA regulations that will soon take effect. At the same time, zkMe also gives users the right to control their identity credentials. Users can achieve maximum privacy protection and value creation by participating in verification.
Modular data preprocessing project DIN completes $4 million in financing, with Manta and others participating
The modular data preprocessing project DIN has completed a US$4 million financing round, with participation from Manta, Moonbeam, Ankr, Maxx Capital and others. This round of financing brings its total financing amount to US$8 million.
It is reported that DIN officially launched Chipper node sales on August 13.
According to RootData, a Web3 asset data platform, DIN is a data intelligence network that provides a set of AI-native digital asset tools and real-time data infrastructure. The network will enable users to produce a variety of AI-native digital assets, including transaction information flows, transaction strategies, transaction support robots, entertainment, education, and social intelligence assistants.
Crypto hardware startup Fabric completes $33 million Series A funding
Crypto hardware startup Fabric Cryptography has raised $33 million in Series A funding, led by Blockchain Capital and 1kx. Offchain Labs, Polygon, and Matter Labs also participated. The project had previously raised $6 million in a seed round led by Metaplanet.
The company said the new funds will be used to “build computing chips, software, and cryptographic algorithms.” Central to Fabric’s roadmap is building a new processing unit called a “verifiable processing unit (VPU)” that will be specifically designed to handle cryptographic techniques.
Web3+AI project L-H launches angel round of financing with a valuation of $40 million
L-H (LEGENDARY HUMANITY), a Web3+AI project initiated by a local Japanese team, has now started angel round financing with a valuation of US$40 million and has conducted in-depth negotiations with many institutions. The project has successfully completed a seed round of financing of US$6 million in 2023. As Japan's first fashion Meme coin ecological project, L-H transforms fashion into Web3 assets through AI and blockchain. Designers and communities issue unlimited Meme coins based on consensus, creating a fashion Meme coin trend and amplifying asset value. It is expected that by 2025, L-H will issue more than 1,000 fashion Meme coins. Angel round financing will focus on accelerating the research and development of 3D technology, community building, and the improvement of ecological incentive mechanisms to ensure that the project can achieve its strategic goals faster.
Web3 oracle service provider Stork Network completes $4 million seed round of financing
CoinVoice has recently learned that Web3 oracle service provider Stork Network has completed a $4 million seed round of financing, led by Lightspeed Faction, with participation from Lattice, CMS and Wintermute. The new funds will be used to enhance its product offerings.
Crypto lending platform Arch completes $5 million seed round of financing
Arch, a crypto lending platform, announced the completion of a $5 million seed round of financing, which was co-led by Morgan Creek Digital and Castle Island Ventures. At the same time, Galaxy provided it with $70 million in debt financing. The funds will be used to serve institutional clients and individual investors. Arch was founded in February 2022 by financial industry veterans Dhruv Patel and Himanshu Sahay to revive the crypto lending industry, which has been hit by the collapse of companies such as BlockFi and Genesis. Arch co-founder Dhruv Patel said the company adopts a conservative strategy, only accepting Bitcoin, Ethereum and SOL as collateral, and does not re-mortgage, but instead custody collateral on behalf of customers through BitGo. Max Bareiss, vice president of Galaxy's lending department, revealed that it plans to securitize debt financing, allowing institutional investors to purchase through crypto-native portals and trade in the secondary market. Arch currently has 5 full-time employees and plans to expand the team and launch other investment products later this year.
Bitcoin re-staking platform SatLayer completes $8 million Pre-Seed round of financing
SatLayer, a Bitcoin re-staking platform based on Babylon, announced the completion of a $8 million Pre-Seed round of financing, led by Hack VC and Castle Island Ventures, with participation from Franklin Templeton, OKX Ventures, Arkstream Capital, Mantle Ecofund, Mirana Ventures, Amber Group, Big Brain Holdings, CMS Holdings, etc. SatLayer co-founder Luke Xie revealed that the project's initial goal was to raise $4 million, but when it started raising funds in April, the round was oversubscribed within a month. (TheBlock)
Credbull, a private credit fund on Polygon PoS, raises $5.2 million, led by GnosisVC
Credbull, a compliant private credit fund based on the Polygon PoS chain, has completed a $5.2 million financing, led by GnosisVC, with strategic participation from Outlier Ventures, HODL Ventures, XBTO, LucidBlue Ventures, CryptoHedge, and SingularityDAO's Marcello Mari. The team said that Credbull is committed to providing a wider range of investors with opportunities to participate in the private credit market by connecting traditional finance with Web3.
TON Ecosystem Sports Game Platform Fanton Fantasy Football Raises $1 Million
Fanton Fantasy Football, a TON ecological blockchain fantasy sports platform, announced the completion of a $1 million seed round of financing, with participation from Animoca Brands, Delphi Ventures, Kenetic Capital, Hashkey x TON Accelerator, PAKA Fund and Sign VC. The specific valuation information has not been disclosed. Fanton has been integrated with Telegram, and the new financing will be used to enhance the platform's functionality, expand its market coverage, and further integrate blockchain technology. Fanton will focus on improving the user experience by launching new features to make the platform more interactive and attractive, including developing new game modes, adding other popular sports in addition to football, and integrating advanced blockchain features for better user control. In addition, Fanton also aims to expand its market coverage by expanding its user base on Telegram and exploring integration opportunities with other platforms.
Lightning Network Payment Company TMRW Completes $1.3 Million Pre-Seed Round of Financing, Led by Maple VC
Miami Bitcoin Lightning Network payment startup TMRW has completed a $1.3 million Pre-Seed round of financing, led by Maple VC and participated by angel investors such as Brad Mills. TMRW has built an open payment standard Universal Money Addresses based on the Lightning Network, and achieved cross-border peer-to-peer payments through Lightspark and ZeroHash. The new funds will be used to expand the US market. TMRW has now opened its iOS beta version to US users.
Web3 social gaming ecosystem Soulbound raises $4 million, with Animoca Brands and others participating
Web3 social gaming ecosystem Soulbound announced the completion of a $4 million financing round, with participation from iAngels, Animoca Brands, Big Brain Holdings, NGC Ventures, Panony, Delta Blockchain Fund, and Blocklords CEO David Johansson. The new funds will be used to build gaming partnerships, increase social interactions, and expand anchor bounties and social tasks. Soulbound has transformed from Popdrip, an NFT-based sticker and social content publishing platform, to allow players, anchors, and creators to earn non-transferable DRIP tokens through cooperation with the Twitch live broadcast platform. TGE is expected to take place in the second half of 2024. The new user interface and brand will be launched this month, with game live broadcasting as its core function.
Last Odyssey Completes Seed Round with Animoca Brands and OKX Ventures
Last Odyssey, the first 5X (Explore, Expand, Collect, Eliminate, Exchange) social-based strategy game, has completed its seed round with investment from well-known VCs OKX Ventures, Animoca Brands, Coin98 Ventures, Selini Capital and Summer Capital. Built by Everest Ventures Group, Last Odyssey will continue to refine its gameplay, focusing on esports elements to expand the immersive Web3 gaming experience and grow its community. Last Odyssey launched the social airdrop event "1st X-Kingdom" on August 20, 2024, in preparation for the game's release at the end of 2024. By completing various tasks, including daily check-ins, inviting friends, and social media interactions, players will earn Gold and use it to upgrade their Kingdom level. Participating users will receive $ODY tokens (in-game governance tokens) as rewards through airdrops based on the level of their Kingdom and the amount of Gold they hold. Aidan, CEO and game producer of Last Odyssey, said: "The strong support from top investors validates Last Odyssey's vision to bring 5X strategy games to a wider audience through simplified design, so that every player can enjoy the immersive cross-cultural historical mythology world we have created." Last Odyssey also aims to open up a new paradigm for strategy games by incorporating heavy social elements. The game design of Last Odyssey encourages users to form alliances to improve resource efficiency and benefits. At the same time, Last Odyssey realizes a decentralized design process-hero co-creation, and players personally participate in the successful implementation of their favorite hero concepts from the creative stage to the successful implementation of their favorite hero concepts. The official game of Last Odyssey is currently in the final stage of development and is expected to be released in the fourth quarter of 2024. With the current support from well-known venture capital companies, Last Odyssey will become the first Web3 game that prioritizes game quality and experience rather than just monetization, focusing on improving the sustainability of the game in the long run.
YeagerAI, the developer of the decentralized AI network GenLayer, has completed a $7.5 million seed round of financing. YeagerAI, the developer of the decentralized artificial intelligence network GenLayer, has completed a $7.5 million seed round of financing, led by North Island Ventures, with participation from venture capitalists such as Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, BlockBuilders, and Arthur Hayes' family office Maelstrom, as well as several angel investors. The YeagerAI team is pioneering a technical solution called "smart contracts," a blockchain-based system that uses large language models connected to the Internet to perform functions. GenLayer also uses artificial intelligence in its custom delegated proof-of-stake algorithm, which randomly selects a chief validator to propose an output, which is then voted on by four other validators connected to different large language models. If the subjective output receives majority support, the transaction is processed.
Skyfire, an AI-powered encrypted payment network founded by former Ripple executives, completes $8.5 million in seed round financing, Circle and others
Skyfire, founded by former Ripple executives, recently announced the completion of an $8.5 million seed round of financing to provide crypto payment solutions for AI agents. Investors include USDC issuers Circle, Ripple, Gemini, and the venture capital firm of Tim Draper, a well-known Silicon Valley billionaire and Bitcoin advocate. The company has developed an open source payment system that allows autonomous AI agents to conduct various transactions on the Internet, including the purchase of data storage, creative assets, air tickets, and daily necessities. Its payment network runs on the USDC stablecoin and is currently deployed on the Polygon network, with plans to expand to other blockchains in the future. Skyfire co-founder and CEO Amir Sarhangi said that traditional payment systems cannot meet the needs of AI, and cryptocurrencies and blockchains provide 24/7 micro-transactions, low fees, and high-efficiency solutions. The company has worked with several customers, including parts manufacturers and AI infrastructure providers for automotive service centers in India, and is in talks with multiple large language models (LLMs) to adopt USDC-based AI agent payment solutions.
Intellectual property blockchain Story completes $80 million Series B financing, led by a16z, with participation from Polychain and others
PIP Labs, the core contributor team of Story, an intellectual property blockchain, announced the completion of a $80 million Series B financing led by a16z crypto. Polychain participated as a strategic investor. Other existing investors include Scott Trowbridge, senior vice president and board member of Stability AI, Adrian Cheng, founder of K11, and digital art collectors Cozomo de'Medici, No Capital, etc. The new round of financing brings PIP Labs' total financing to $140 million. Chris Dixon, founder and managing partner of a16z crypto, said: "PIP Labs is building the infrastructure needed for a new economic contract in the AI era. Story Protocol can ensure that creators who provide IP to AI systems are compensated. S.Y. is a reliable innovator, and we are happy to support his grand vision by leading the company's third round of financing." Story Protocol is the world's first intellectual property blockchain, designed to tokenize trillions of intellectual property assets and unlock the infinite creativity of programmable IP+AI. Currently, the number of IPs on the Story Protocol chain has exceeded 20 million, and more than 200 teams are building applications such as IPFi, AI, and consumer markets.
Base Ecosystem DeFi Protocol BSX Completes $6.2 Million in Financing
BSX, the DeFi derivatives protocol of the Base ecosystem, announced the completion of a $6.2 million seed and pre-seed round of financing. The seed round was $4 million, led by Blockchain Capital, and the pre-seed round was completed two years ago with a fundraising amount of $2.2 million.
Bitcoin Ecosystem Income Network Corn Completes $6.7 Million Funding, Polychain Leads Investment
Corn, a Bitcoin ecosystem income network, has completed a $6.7 million financing round led by Polychain, with participation from Binance Labs, Framework Ventures, OKX Ventures, HTX, Ventures and Relayer Capital. It is reported that the project aims to enhance the practicality of Bitcoin and introduce new income-generating opportunities.
Web3 social gaming ecosystem Soulbound raises $4 million, with Animoca Brands and others participating
Web3 social gaming ecosystem Soulbound announced the completion of a $4 million financing round, with participation from iAngels, Animoca Brands, Big Brain Holdings, NGC Ventures, Panony, Delta Blockchain Fund, and Blocklords CEO David Johansson. The new funds will be used to build gaming partnerships, increase social interactions, and expand anchor bounties and social tasks. Soulbound has transformed from Popdrip, an NFT-based sticker and social content publishing platform, to allow players, anchors, and creators to earn non-transferable DRIP tokens through cooperation with the Twitch live broadcast platform. TGE is expected to take place in the second half of 2024. The new user interface and brand will be launched this month, with game live broadcasting as its core function.
