According to BlockBeats statistics, the total number of financings last week was 11, which was a significant decrease from before. The total amount was approximately US$87.5 million, and the average financing amount was US$7.9545 million. Among them, the infrastructure field occupies the main body, with more related social/creator economic fields, more digital asset management/payment fields, less financing in the Metaverse/GameFi field and other fields, and none in the NFT/digital fashion field and DeFi field. The figure below shows the proportion of financing in each sector last week:
Metaverse/GameFi
There were 2 financings in the Metaverse/GameFi space, totaling $6.4 million, accounting for 7.31% of the total financing last week.
Delabs Games
On July 25, Web3 game developer Delabs Games announced the completion of a $4.7 million seed round of financing, led by Hashed, with participation from The Spartan Group, Planetarium, Polygon Labs, and Merit Circle. 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 said it has been developing three games, Rumble Racing Star, Space Frontier, and Metabolts, since 2021. Delabs Games is a gaming company founded by former Nexon CEO Joonmo Kwon. Delabs Games' goal is to create fun games that can last for a thousand years. Delabs Games believes that with blockchain technology, games can one day exist forever. The technology also helps Delabs Games create tools that enable the community to become developers of their favorite Delabs games.
Delabs Games' first game, Rumble Racing Star, is in closed beta. With several other RPG games in the works, and with each project in development, Delabs is focused on making the most compelling games while also focusing on dynamics unique to Web3. Delabs Games plans to release the "Delabs Adventure Pass" in April, which will integrate all Delabs games, enhance the player experience and bring additional benefits.
Kandle.xyz
On July 25, IndianWeb2 reported that the 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, Seedrs Fund, and CoinDCX CEO Sumit Gupta. It is reported that Kandle.xyz offers fantasy games based on cryptocurrency, where players can compete to win rewards. Kandle.xyz plans to release a project roadmap on token issuance, token utility, and the "P2E" model. Kandle's (Kandle.xyz) flagship product is "Crypto Fantasy League", a game that allows players to choose crypto coins as their battle tokens and compete against each other in portfolio battles. This unique intersection of games and cryptocurrencies provides the platform with an important opportunity to attract users looking for alternatives to traditional crypto trading.
The platform is already operating in several countries including Indonesia, Vietnam, Nigeria, and India, and aims to expand further into Asia and North America. Kandle offers innovative fantasy games using crypto coins where players can compete for rewards. The project plans to release its roadmap on token issuance, token utility, and the “Play to Win” model, which aims to reimagine the “earn while playing” ecosystem.
NFT/Digital Fashion and DeFi
NFT/digital fashion and DeFi fields are not available yet.
Social/Creator Economy
There were 3 financings in the social/creator economy sector, with a total amount of over US$8.1 million, accounting for 9.26% of the total financing last week.
Hibiki Run
On July 24, Web3 digital music project Hibiki Run has completed a million-dollar seed round of financing, with participating institutional and individual investors including Synergis Capital, NEAR Foundation, BitMart, TKX Capital, String Capital, Gravity Venture Capital, Yi Lu (co-founder of Weibo), AAG Ventures, FutureMoney Group, etc. The funds from this round of financing will be used to accelerate the research and development and growth of the project. Five months after the launch of the Hibiki Run app, the number of NFT holders on the site has reached more than 100,000, with more than 20,000 daily active users and more than 7,000 rare NFT holders.
Related reading: Hibiki Run: A music exploration app based on Japanese pop culture
Hibiki Run is a gamified digital music platform that is committed to bringing the gashapon culture popular in the Japanese community into Web3 and creating a P2E social APP that is highly interesting and scalable. It has also made good progress offline in Japan. It has held multiple Tomo Night offline events in Tokyo, Osaka and other cities in Japan, and released cooperative NFT headphones with well-known Japanese artists Canran World, MIYABI and web3's largest music platform Audius.
Releap Protocol
On July 25, Sui Eco's decentralized social graph protocol Releap Protocol 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. It is reported that the core of Releap is a decentralized social graph running on the Sui blockchain. It aims to allow creators to freely retain ownership of the connections they make with their audiences. By creating a fully customizable, user-owned social graph, Releap enables creators to control their content and social relationships. The Releap Protocol scalable architecture is designed to power the upcoming wave of social applications.
The architecture of the Releap Protocol is designed with modularity in mind. Profiles play a central role, allowing users to build their social graph and interact with each other. Profile owners are free to publish different types of content, including posts, comments, and mirrors. They can set rules for followers and customize the image and behavior of their profiles. On the other hand, users can follow profiles, collect publications, and participate in meaningful social experiences. Releap Protocol has launched a social-focused ecosystem in its testing phase to promote growth for developers and users. Releap is currently in beta testing.
Other social/creator economy funding includes:
On July 27, the decentralized social platform Passage completed a $6 million private token financing. This round of financing was led by Akash Network, and Druid Ventures, Vitwit, Cosmostation, Hyperchain Capital, Chorus One and Cogitent Ventures participated in the investment. Passage will use this money to further develop and build tools. Passage is built on Cosmos and integrated with Sortium's artificial intelligence technology. It will publicly sell PASG tokens on StreamSwap on August 29 and will launch a beta version in the fourth quarter of 2023. (PR Newswire)
infrastructure
There were 3 financings in the infrastructure sector with a total amount of over US$60 million, accounting for 68.57% of the total financing last week.
Dmail Network
On July 24, multi-chain Web3 infrastructure Dmail Network announced the completion of its Pre-A round of financing, with participation from Amino Capital, OIG VC, Draper Dragon, KuCoin Labs, HG Ventures, Spark Digital Capital, Bixin Ventures, Wagmi Ventures, Gate Labs, Kretos Ventures and Red Swiss, and established partnerships with Vespertine Capital, LoneLine, Lead Capital, TsingTing CapitalCatcher VC and Black Ventures.
Dmail uses the Internet Computer as its engine to complete the distributed storage and privacy protection of information; it uses NFT-based mailbox information to identify user identities and rights, realizes horizontal connections between information, assets, storage, and DApps, breaks down data silos, and becomes an important information interaction tool in the Web3.0 era. Dmail Network aims to provide unified real-time messaging and notification services across multiple chains and applications, helping users stay connected in an evolving digital environment and ensuring easy and seamless access to data and messages. It currently has 550,000 registered domain name accounts and over 300,000 individual user addresses.
Flashbots
On July 25, according to The Block, Ethereum infrastructure service Flashbots completed a $60 million Series B financing round with a valuation of $1 billion. The funds will be used to develop the Suave platform, which allows users to "transact more cheaply and privately" on the blockchain.
Flashbots is a research and development organization whose services provide blocks to validators running the Ethereum blockchain. MEV, or Maximum Extractable Value, is a technique that involves manipulating the order of transactions to exploit profitable on-chain transactions. Flashbots aims to reduce the negative network effects of MEV. They have created an open source solution that enables miners on POW protocols and validators on POS protocols to work more efficiently with MEV seekers. It hosts private auctions separate from the mempool. The system does not prevent all front-running on Flashbots, but it prevents a common method by hiding queued transactions from public view.
They will go
On July 27, decentralized GPU infrastructure Aethir completed its Pre-A round of financing at a valuation of US$150 million, led by Sanctor Capital, Hashkey, Merit Circle and CitizenX, with participation from Mirana Ventures, Animoca Brands, Momentum6, Big Brain Holdings, Builder Capital, Tess Ventures, Maelstrom (Arthur Hayes), Lapin Digital and others. The total financing has exceeded US$9 million so far. Aethir is a decentralized network infrastructure project (Depin) founded in Singapore in 2021 by veterans of the global cloud computing industry. It aims to build a global, ultra-large-scale GPU cloud infrastructure in a decentralized manner. This investment has served a growing customer base, including well-known enterprises, artificial intelligence 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 AI companies, big and small, get their products directly into the hands of consumers, no matter where they live or what hardware they own. Aethir solves market fragmentation in a way that only a decentralized cloud can. The Singapore-based company has a team of 68 dedicated employees.
Digital asset management/payment
There were 2 financings in the field of digital asset management/payment, with a total amount of over US$7 million, accounting for 8% of the total financing last week.
2MR Labs
On July 24, according to e27, the digital asset Launchpad platform 2MR Labs announced the completion of a new round of financing, led by Heliconia Capital under Temasek, and participated by 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 enterprises in Web3 technology transformation through Launchpad. It has reached a strategic alliance partnership with cold wallet provider UKISS Technology, Web3 game platform MetaOne, and global entrepreneurship and innovation platform Plug and Play APAC.
Other financing
There was 1 other financing with a total amount of US$6 million, accounting for 6.86% of the total financing last week. Including:
On July 25, Fortune magazine reported that Fabric Cryptography, a cryptographic chip company, announced the completion of a $6 million Pre-Seed round of financing, led by Metaplanet, with participation from Nil Foundation, Inflection, Novawulf and Era. Michael Gao, the company's co-founder and CEO, declined to provide valuation information for this round of financing, only revealing that the chip it was designing had received an order worth $50 million and had signed a letter of intent for a transaction worth approximately $100 million with a potential buyer. It is reported that Fabric Cryptography is a startup company that focuses on developing advanced cryptographic algorithm hardware, especially building dedicated computer chips for zero-knowledge proof technology. Last week, Fabric Cryptography also reached a cooperation with the Nil Foundation, a developer of ZK technology, to launch a decentralized market for encryption and outsourced proof generation.
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