Chainlabs Investment Research Weekly Report | 30 public financing events occurred in the encryption market,

ChainlabsMar 18, 2024

Chainlabs Investment Research Weekly Report | 30 public financing events occurred in the encryption market,

According to incomplete statistics from CoinVoice, there were more than 30 project financing cases in the blockchain field announced this week (3.11-3.15), with 5 financings worth tens of millions. Eclipse Labs announced the completion of a $50 million Series A round of financing, co-led by Placeholder and Hack VC, making it the largest funding event this week. Other popular projects include Web3 interoperability infrastructure Polyhedra Network, gamification incentive layer protocol Kaskade Finance, Web3 social infrastructure UXLINK, etc. Cryptocurrency markets have been more active this week than last week. In the segmented fields, this week’s investment and financing amount is concentrated in the direction of infrastructure and Web3. The following is an overview of this week’s financing events.

DePIN project Meson Network announces strategic investment from OKX Ventures

The official Twitter posted that the DePIN project Meson Network announced that it has received strategic investment from OKX Ventures. The investment will support Meson Network in expanding its current presence in more than 150 countries and 250,000 nodes.

Carbonated Inc. secures $13 million in Series A funding for NFT shooting game MadWorld

NFT game studio Carbonated Inc. has closed a $13 million Series A round led by South Korean mobile game publisher Com2uS.

The funding also attracted participation from Andreessen Horowitz (A16z), Bitkraft Ventures, Cypher Capital, Blocore, Goal Ventures and WAGMI Ventures. A16z led Carbonated’s $8.5 million seed round announced in July 2020.

The studio plans to use the new funding to accelerate development of its post-apocalyptic NFT shooter MadWorld, which opened for early beta registration on Thursday.

Security company Eyris completes $3 million in pre-seed round of financing

Blockchain network security technology provider Eyris announced the completion of a $3 million Pre-Seed round of financing, with investment incubator Red Cell Partners fully participating in the investment. Specific valuation information has not yet been disclosed. Eyris provides a suite of blockchain technologies to enhance digital security for the Department of Defense, Armed Forces and the private sector.

It is reported that Eyris was founded in 2023 by Kevin Keaton, a U.S. Army veteran and former director of innovation at the National Security Agency (NSA). Keaton has 34 years of experience in the national security industry.

Blockchain and rollups security platform Range raises $2.7 million in seed round led by Galileo

According to official news, the blockchain and rollups security platform Range announced that it has received US$2.7 million in seed round financing, led by Galileo, Robot Ventures, Volt Capital, Chorus One, Bitscale Capital, Fenbushi Capital, Monoceros, Reverie, Informal Systems, Caballeros Capital, Kahuna participated, along with angel investors from Binance, Arbitrum and Skip.

It is reported that Range’s goal is to build a security and risk infrastructure stack that prepares markets and institutions for the adoption of blockchain and rollups technologies through a best-in-class enterprise-ready platform and a security-first approach.

Cryptocurrency clearing platform Cleartoken completes over $10 million in seed round financing

Cryptocurrency clearing platform Cleartoken announced on Wednesday the completion of a seed round of over $10 million in financing, with participation from Nomura Securities’ Laser Digital, liquidity providers Flow Traders and GSR, as well as digital asset companies LMAX Digital and Zodia Custody. ClearToken will provide digital assets with the benefits of horizontal clearing and settlement, the company said. ClearToken plans to be fully regulated in the UK and has begun work on obtaining a clearing house license from the Bank of England. The company plans to offer initial settlement services this year and central counterparty clearing (CCP) services within the next 12-18 months.

Blast ecological project Munchables completed Pre-Seed round of financing, led by Manifold and others

According to an official announcement, the Blast ecological project Munchables announced the completion of a Pre-Seed round of financing. Manifold and Mechanism Capital co-led the investment, with participation from angel investors such as Selini Capital, Hidden Street, Duplicate Capital, Selini Capital founder Jordi Alexander, and CBB0FE. The amount of financing has not yet been disclosed.

NFT crowdfunding platform SnowSeed completed a US$5 million strategic round of financing, with participation from MCI and others

NFT crowdfunding platform SnowSeed announced the completion of a US$5 million strategic round of financing, with participation from Buckingham Holdings Indonesia and MCI (Medi Crypto International).

It is understood that SnowSeed is an NFT crowdfunding platform launched in Indonesia. Currently, SnowSeed has issued NFTs related to healthcare, and plans to launch real estate development investment products in cooperation with large Indonesian companies and state governments, as well as entertainment through the SnowSeed investment platform. and art projects.

DeFi protocol Elixir completes $8 million in Series B financing

According to Crypto.news, DeFi protocol Elixir announced the completion of $8 million in Series B financing. Mysten Labs and Maelstrom jointly led the investment, with participation from Manifold, Arthur Hayes, Amber Group, GSR, Flowdesk, etc.

It is reported that Elixir allows users to provide liquidity directly to trading pairs on order book exchanges and receive market maker rewards similar to AMM. Its network supports a large amount of liquidity from exchanges such as Vertex, Bluefin, RabbitX, and will cooperate with dYdX and dYdX. Integration with platforms such as ApeX.

According to previous news, Elixir completed a $7.5 million Series A round of financing at a valuation of $100 million, led by Hack VC, with participation from NGC Ventures, AngelList Ventures, Bloccelerate, and angel investors from Ledger Prime, Genesis Trading, and Hudson River Trading.

MMORPGM blockchain game MetaCene completes US$10 million in Series A financing

MMORPGM chain game MetaCene completed a $10 million Series A round of financing, led by Folius Ventures and SevenX Ventures, with participation from The Spartan Group, Mantle Network, Animoca Ventures, Longling Capital, Comma3 Ventures and IGG. The funds raised will be used to expand the team and Drive user acquisition initiatives.

MetaCene conducted two rounds of Alpha testing in 2023, and the number of participating players increased from 2,961 to 5,000+; the average daily game time per player increased from 2.5 hours to 4 hours. MetaCene will also launch a third round of alpha testing in March 2024, including desktop and mobile.

According to the encrypted data platform RootData, in July 2023, MetaCene completed a US$5 million seed round of financing, led by Hash Global and SevenX Ventures, with participation from WeMade, Emurgo, MixMarvel DAO Ventures, Sinovation Ventures (Innovation Works) and LK Ventures. .

Peer-to-peer NFT lending protocol NFTfi completes $6 million in Series A1 financing

According to CoinDesk, peer-to-peer NFT lending protocol NFTfi announced the completion of a $6 million Series A1 round of financing, led by Placeholder VC, with participation from Maven 11, Launch Labs Inc, Kahuna Ventures and others. Total funding for NFTfi currently stands at $15 million.

It is reported that NFTfi was launched in 2020 and is a pioneer in NFT finance, promoting major on-chain loans. Future plans include enhancing dApp functionality, expanding SDK functionality, and creating an open settlement layer for NFT finance. NFTfi allows NFT holders to borrow ETH, USDC, or DAI from lenders in a trustless P2P manner, using their NFTs as collateral.

Web3 gaming technology stack Blockus completes US$4 million in financing, led by Maple VC

According to VentureBeat, Web3 gaming technology stack and payment provider Blockus announced the completion of a $4 million seed round of financing, led by Maple VC, with participation from Altos Ventures, Zhuoxun Yin of Magic Eden, Michael Ma of CreatorDAO, and Bryan Pelligrino of LayerZero. Prior to this funding round, Blockus participated in a16z Crypto’s Startup Accelerator.

It is reported that Blockus' technology platform can help game studios build on-chain functions of games on players, including "wallet as a service" model, white label NFT market, and payment processing for legal and encrypted payments.

AI Web3 startup Bluwhale completes US$7 million in seed round financing, led by SBI

Bluwhale, an AI Web3 startup based in Silicon Valley, announced the completion of a US$7 million seed round of financing. This round of financing was led by SBI (including SBI Ven Capital and SBI Decima), Cardano, Momentum6, Primal Capital, NxGen, Ghaf Capital Partners, Spyre Capital, Baselayer Capital, Dragonfly’s managing partner Haseeb Qureshi, “Guitar Hero” founder Charles Huang, Oculus founder Jack McCauley, and cooperative funds from Animoca (Japan), Gumi, MZ Crypto, Sygnum and Azimut also participated in the investment.

Gamification incentive layer protocol Kaskade Finance completes Pre-Seed round of financing

Kaskade Finance, a gamification incentive layer protocol, announced the completion of a Pre-Seed round of financing, with participation from Marshland, NxGen.xyz, Artemis Capital, Andromeda Capital, Hercules Ventures, 369 Capital, Crypto Oasis Ventures, VirtualBacon, Brian D Evans, CryptoJack, etc., but The specific financing amount has not been disclosed yet. It is reported that Kaskade Finance mainly provides a cross-chain liquidity guidance layer for DeFi protocols and cross-chain networks, using incentives centered on transaction volume to increase more fees in the liquidity pool.

DeMR announced the completion of angel round financing, with participation from Kucoin Labs, DWF Labs, LD Capital, etc.

Solana ecological MR infrastructure DeMR announced the completion of angel round financing, with participation from Kucoin Labs, DWF Labs, LD Capital, JDI, Redline Labs, Meteorite Labs, and Paka. DeMR said it is preparing for the upcoming airdrop and listing of the DMR token.

Web3 gaming infrastructure company Param Labs completed a strategic round of financing, with Animoca Brands participating in the investment

Param Labs, a Web3 gaming infrastructure startup headquartered in the United Arab Emirates, announced the completion of a strategic round of financing, with Animoca Brands participating in the investment. The specific financing amount has not yet been disclosed. The new funds will be used to accelerate Param Labs’ scalable Web3 infrastructure and expand the ecosystem. system.

Layer 1 public chain Berachain completes US$69 million in financing

According to Bloomberg, Layer 1 public chain Berachain received over $69 million in financing co-led by Brevan Howard Digital and Framework Ventures. The project, which is raising funds through the sale of digital tokens, will be valued at $1.5 billion.

It is reported that Berachain has three main tokens, BERA and BGT, as well as the Honey stablecoin. A beta version of the blockchain was released to the public in January, but the project has not yet fully launched.

Liquidity staking protocol SHUI completes seed round financing, Conflux Foundation participates in investment

SHUI, the Conflux ecological liquidity staking protocol incubated by BlockBooster, announced the completion of a seed round of financing led by BlockBooster and participated by Conflux Foundation. This investment will support the development of SHUI and further improve the Conflux ecological infrastructure. Since mainnet launch on February 8, protocol TVL now exceeds $2.5 million. SHUI is currently holding a CFX staking incentive event where users have the opportunity to win rewards worth approximately $5,000.

BitRealms, an open metaverse game developer based on Merlin Chain, completed Pre-Seed round of financing

BitRealms, an open metaverse game developer based on Merlin Chain, announced the completion of a Pre-Seed round of financing, led by Comma 3 Ventures, with participation from Bitvalue Capital, Big Brain Holdings, Negentropy Capital, Bscstation and Cogient Ventures. The specific financing amount has not yet been disclosed. It is reported that BitRealms plans to launch in mid-March, allowing participants to obtain in-game rewards and BRC-420 NFT, aiming to use inscriptions to provide a community-centered gaming experience.

Polyhedra Network completes US$20 million strategic round of financing at US$1 billion valuation

Polyhedra Network, the team behind the zero-knowledge interoperability protocol zkBridge, today announced the completion of a US$20 million strategic round of financing with a valuation of US$1 billion, led by Polychain Capital, Animoca Brands, Emirates Consortium, Arkstream Capital, Mapleblock Capital, Hashkey Capital, UoB Ventures, Symbolic Capital, Longhash Ventures, MH Ventures and Web3Port Foundation participated in the investment. It is reported that this is the fifth round of financing conducted by Polyhedra Network in the past two years.

Web3 game developer 9 Lives Interactive completes $3 million in financing

Singapore-based Web3 shooter developer 9 Lives Interactive announced the completion of US$3 million in financing, led by Mechanism Capital, with participation from Delphi Digital, Sfermion, 3Commas Capital, Momentum 6, Kosmos Ventures, Devmons GG and CSP DAO. The new funds will be used in support of the global launch of its first game, Nyan Heroes.

Web3 fashion startup mmERCH completes US$6.4 million in seed round financing

Web3 fashion startup mmERCH announced the completion of a $6.4 million seed round of financing, led by Liberty City Ventures, 6529 Holdings LLC, Christie's Ventures and Flamingo DAO, as well as Paxos CEO and co-founder Charles Cascarilla, and Web3 investor Mike Jacobellis , collector and investor Daniel Maegaard (Seedphrase), American entrepreneur and model Karlie Kloss, luxury fashion designer and philanthropist Tory Burch, and leading Web3 fashion alliance Red DAO, etc. participated in the investment, with a post-money valuation of US$25.7 million. .

Blockchain infrastructure company Clique completed $8 million in Series A financing, led by Polychain Capital

Blockchain infrastructure company Clique announced the completion of an $8 million Series A round of financing, led by Polychain Capital, with well-known investors such as Bankless, Robot Ventures, Santiago R. Santos, and Balaji Srinivasan, as well as Lido, Polygon, Scroll, Berachain, Monad, and Gitcoin , Axiom, Succinct and the founders of Uniswap Foundation participated in the investment. The company currently mainly provides data computing infrastructure services for the blockchain.

NFT market Pallet Exchange completed a $2.5 million private placement round, with Spartan Group participating as an investor

Pallet Exchange, an NFT market based on the Sei ecosystem, announced the completion of a $2.5 million private placement round, with participation from Spartan Group, Symbolic Capital, Cypher, and angel investors from Coinbase and MoonPay.

Crypto video game MetalCore developer Studio 369 completes $5 million in funding

Studio 369, the developer of the blockchain video game "MetalCore", announced the completion of a new round of financing of US$5 million, with participation from Delphi Digital, Bitkraft Ventures and Sanctor Capital. The game is expected to be in public beta at the end of 2024 and is currently in a closed beta phase.

OKX Ventures, Web3Port Foundation and others participate in investment in Web3 social infrastructure UXLIN

According to official news, Web3 social infrastructure UXLINK has completed a total of US$9 million in financing, focusing on ecological construction based on the RWS protocol. This round of financing was participated by OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin Ventures, Gate Labs, Forgame, ECV, Signum Capital and 7UPDAO. Singapore company registration information shows that HongShan, Matrixport Ventures, and ZhenFund are also listed investment institutions. UXLINK was also selected into the Stanford Blockchain Accelerator program. UXLINK is committed to building an integrated social ecosystem that integrates Web3 traffic portals, social exchanges and infrastructure. Unlike other social infrastructure projects that focus on one-way follow relationships, UXLINK focuses on two-way, acquaintance social relationships, similar to the social structure differences of Twitter vs Facebook, Weibo vs WeChat.

Finboot, a blockchain supply chain solution, completed a new round of financing, with Wealth Club and others participating in the investment

Finboot, a blockchain supply chain solution, announced the completion of a new round of financing, with Wealth Club and others participating in the investment. The specific amount has not yet been disclosed. Finboot solutions enable enterprises to incorporate blockchain into supply chain services, bringing traceability, transparency and compliance. The new funds will be used to accelerate the construction of its code-free supply chain tracking blockchain platform MARCO. (wales247)

Fjord Foundry completes US$4.3 million in seed round financing, led by Lemniscap

Token sale platform Fjord Foundry announced the completion of a US$4.3 million seed round of financing, led by Lemniscap, with participation from Mechanism Cap, Zee Prime Cap, Castle Capital and others. The team at Fjord Foundry said the platform offers a range of token sale methods, including its unique Liquidity Bootstrapping Pools (LBPs), which are designed to achieve fair distribution and reduce the risk of market manipulation and bot trading by large traders.

Bitcoin cross-chain bridge project XLink completes first round of financing

According to official news, the Bitcoin cross-chain bridge project XLink announced the completion of its first round of financing. Foresight Ventures, Bitcoin Frontier Fund, Bitcoin Lab, LK Venture, Avid3, BlockBooster, Cypher, Gate Venture, GSG, Incuba Alpha, Kucoin, Kyros and Oak Grove Ventures and others participated in the investment. XLink plans to use the new funding to provide a seamless user experience for the Bitcoin economy and will offer the XLink referral system, points system, and community rewards program.

MetaCene completes US$10 million in Series A financing

Web3 MMO gaming platform MetaCene announced the completion of a $10 million Series A round of financing, led by Folius Ventures and SevenX Ventures, with participation from The Spartan Group, Mantle Network, Animoca Ventures, Longling Capital, Comma3 Ventures, IGG and others. Previously, MetaCene completed a seed round of financing led by Hash Global and SevenX, with participation from institutions such as WeMade, Emurgo, MixMarvel DAO Venture, Sinovation Ventures and LK Venture. MetaCene is currently mainly building the next generation MMORPG chain game, supporting functions such as guild DAO governance, sustainable economic system, and in-game AIGC editing. This round of financing will be used to expand the team and promote user acquisition plans. MetaCene, in partnership with Mocaverse, YGG and Ancient8, among others, plans to launch Alpha Test V.3 in March 2024.

Oneness Labs completes $4 million in seed round financing

Oneness Labs has raised $4 million in a seed round, with participation from Dubai’s ruling family The House of Maktoum and Finewill Capital, a gaming fund co-founded by Wemade and Mirana. It is understood that Oneness Matrix developed by Oneness Labs is committed to designing modular game intent BTC Layer2 for consumer-level games. It aims to migrate the 200 billion US dollars traditional game industry to Web3 in a new way and open up large-scale consumption and Transaction-driven game scenario. Oneness Matrix will launch in beta in the second quarter of 2024, with the platform’s first game launching in late 2024.

UniSat completes a new round of strategic financing, with CGV participating in the investment

Bitcoin Ordinals/BRC-20 protocol open source wallet and infrastructure/service provider UniSat announced the completion of a new round of strategic financing. Japanese cryptocurrency investment institution CGV participated in the investment. The specific amount has not yet been disclosed. According to Dune data, the UniSat wallet currently accounts for approximately 10% to 20% of market trading volume and trading time, with approximately 800,000 weekly active users.

Eclipse Labs completed US$50 million in Series A financing, and the mainnet is scheduled to be launched in Q2

Eclipse Labs announced the completion of a $50 million Series A round of funding, co-led by Placeholder and Hack VC, bringing total funding to $65 million. The round also saw participation from investors such as RockTree Capital, Polychain Capital, Delphi Digital, Maven 11, DBA, Apollo-managed funds, Fenbushi Capital, ParaFi Capital, as well as strategic investments from Flow Traders, GSR, Auros and OKX Ventures. Numerous researchers and developers participated in its angel round, including Barnabé Monnot (Ethereum Foundation), John Adler (Celestia Labs), Austin Federa (Solana Foundation), ZachXBT, and Meltem Demirors. Neel Somani, founder of Eclipse Labs, said: "Eclipse's goal is to be the fastest Ethereum L2 solution. Ethereum needs a single, scalable, composable L2 ecosystem that can handle 99% of use cases. Other L2s are only for Full EVM compatibility is optimized to be highly fragmented, slow, and undifferentiated. Eclipse integrates high-performance SVM with deep liquidity on Ethereum and maintains hard constraints on verifiability." Eclipse Mainnet It is expected to go online in the second quarter of this year. Eclipse will provide ecosystem grants as well as technical and marketing support to top developers and projects deploying on its mainnet. It plans to sponsor hackathons and accelerators and host community-building events for users interacting with the Eclipse mainnet.