Which early projects are leading crypto venture capital firms betting on recently? | 9.1-9.30
Eclipse, Coral, Harpie, TwitterScan, Hooked Protocol, Magpie Protocol, etc.Organizer: Biscuit, Chain Catcher
In this article, Chain Catcher will introduce early projects recently backed by leading crypto venture capital firms (from September 1 to 30), including basic information, official websites, related reports, etc., to help readers further understand potential projects for the future.
1. Space ID
On September 2, the decentralized multi-chain domain protocol SPACE ID completed a seed round of financing led by Binance Labs, with the specific amount undisclosed.
Space ID is a universal naming service network that seamlessly connects people, information, assets, and applications in the digital world. It supports multiple chains, is decentralized, censorship-resistant, and open-source.
SPACE ID is building a decentralized, censorship-resistant, and open-source universal identifier. The naming service network allows users to represent their identity across all individual DApps and blockchains using a human-readable domain name. Each domain service is built around the following attributes: a universal username with multi-chain interoperability; decentralized identity in a single source of truth (SSOT) system; and a temporary oracle chain that enhances scalability and usability.
Official website: https://space.id/
Related reading: 《Binance Labs Leads SPACE ID's Seed Round to Support the Universal Naming Service Network》
2. Reveel
On September 5, the Web3 revenue-sharing protocol Reveel completed a $1.3 million Pre-seed round of financing, with participation from Binance Labs and others.
Reveel was founded by Swiss reggae musician and producer Adrien Stern, aiming to automate revenue sharing and provide developers with an on-chain revenue reporting platform, a complete financial stack for Web3 collaboration.
Reveel was shortlisted for Binance Labs' 4th season incubation program in May this year. Additionally, Reveel collaborates with well-known IDs in the Web3 music space, including Venice Music, Glass.xyz, wavWRLD, Chill.rx, BlackDave, Sammy Arriaga, and more. Reveel will also offer Early Access Membership NFTs to Web3 creators wishing to become early adopters.
Official website: https://www.r3vl.xyz/
Related reading: 《Crypto Pitch Deck Binance Labs Invest Web3 Startup Raise Funding》
3. Dust Labs
On September 6, Solana ecosystem NFT service provider Dust Labs completed a $7 million seed round of financing, with participation from Chapter One, FTX Ventures, and others.
Dust Labs aims to provide NFT tools for projects on Solana and Ethereum, with its first product being the "scholarship" whitelist tool "y00tlist," showcased during the y00ts minting period. Its founders built the highest market cap NFT project in the Solana ecosystem, DeGods.
y00ts is a collection of 15,000 PFP avatars resembling snowmen created by the DeGods founding team. The project features a transparent whitelist system and has received applications from several well-known figures, including NFT influencers and football legend Wayne Rooney. Accepted applicants and DeadGod holders can mint "t00bs," which can be burned to obtain "y00ts."
Official website: https://www.dustlabs.com/
Related reading: 《NFT Software Company Dust Labs Raises $7M During y00ts Release》
4. HotStreak
On September 8, the Web3 sports betting platform HotStreak completed a $9 million Series A financing round, led by Polychain Capital, with other specific financing information not yet disclosed.
HotStreak is a Web3 platform for daily fantasy sports (DFS) competitions, leveraging the decentralized nature of blockchain to make it an ideal solution for DFS platforms, currently offering NFL, NBA, MLB, WNBA, and esports competitions. HotStreak's distributed SHARP protocol aims to address issues from a payment and custody perspective, with the company stating that the payment settlement cycle on its platform is 10 seconds.
HotStreak currently only provides services to users in certain permitted regions. Additionally, it offers referral rewards for any player. If a referred friend deposits and places a bet worth at least $10, the referrer will receive a $10 bonus.
Official website: https://hotstreak.gg/
Related reading: 《Polychain puts its money on HotStreak to streamline sports betting using blockchain》
5. Magpie Protocol
On September 8, the liquidity aggregation protocol Magpie Protocol completed a $3 million seed round of financing, with participation from Jump Crypto and others.
Magpie Protocol is a decentralized liquidity aggregation protocol for cross-chain exchanges, aiming to provide optimal trading for any asset across blockchains without directly bridging assets.
Specifically, the Magpie protocol addresses the above issues by facilitating cross-chain exchanges without bridging. Magpie has completed a new architecture that primarily uses bridges as a data transmission layer for inter-chain exchange signal communication. This allows users to initiate exchanges using liquidity pools of stablecoins deployed across all chains and the Magpie liquidity aggregation protocol to swap for the desired tokens.
Official website: https://www.magpiefi.xyz/
Related reading: 《Magpie Protocol Secures $3m in Seed Funding to Enable Seamless Cross-chain Swaps》
6. Hubble Protocol
On September 8, the stablecoin lending protocol Hubble Protocol on Solana completed a $5 million strategic financing round, led by Multicoin Capital.
Hubble is a decentralized finance (DeFi) protocol built on the Solana blockchain. In its first phase of development, Hubble aims to enable users to borrow USDH using various assets (SOL, BTC, ETH, etc.). Borrowing USDH allows users to gain liquidity on their long-term held tokens.
Additionally, users can earn protocol rewards by staking HBB or profit from liquidations by depositing USDH into the Stability Vault (formerly the Stability Pool).
Official website: https://hubbleprotocol.io/
Related reading: 《Hubble Protocol raises $5 million in a strategic round led by Multicoin Capital》
7. Hooked Protocol
On September 9, the Web3 social network Hooked Protocol completed a seed round of financing, led by Binance Labs and Sequoia Seed Fund.
Hooked Protocol aims to build a community-driven social network with token economics designed to help Web2 users seamlessly transition to the Web3 ecosystem and build a growth infrastructure that decentralized applications (dApps) can achieve, providing users with a gamified experience.
The team is currently integrating wallets and DIDs. Hooked Protocol will initially launch on the BNB Chain and plans to expand to other Layer 1 blockchains in the future to form a collaborative network that promotes community-owned economies and open innovation.
Official website: https://hooked.io/
Related reading: 《Binance Labs Co-leads the Seed Round for Hooked Protocol to Drive Community-Owned Economies》
8. Sender
On September 12, the NEAR wallet Sender completed a $4.5 million financing round through a token sale, led by Pantera Capital, with participation from Crypto.com, Jump Crypto, Amber Group, and others.
Sender is a non-custodial wallet that allows users to instantly swap tokens, stake them for potential rewards, and hold NFTs. Sender can also connect to hardware wallets like Ledger and Keystone, as well as integrate crypto gateway services like Moonpay, Banxa, and Transak.
In the future, Sender plans to fund wallet solutions for institutional and enterprise users, NFT trading aggregators, node staking, and integration with multiple decentralized exchanges to enhance the convenience of token swapping.
Official website: https://senderwallet.io/
Related reading: 《Pantera Capital leads $4.5 million round for NEAR-based wallet Sender》
9. Arpeggi Labs
On September 15, the Web3 music creation platform Arpeggi Labs secured $5.1 million in seed funding, led by a16z Crypto, with participation from 1confirmation and others.
Arpeggi is a collaborative Web3 music creation platform based on the ARP protocol, allowing anyone to create, publish, and mix any audio, aiming to change the way music is created, ensuring proper attribution when using sounds, while readjusting creator incentives to encourage the reuse of existing artists' music.
Currently, the Arpeggi platform features an infinite community-sourced sample library for creation and a fully functional DAW, allowing users to mint their created songs and samples into shareable tokens.
Official website: https://arpeggi.io/
Related reading: 《Arpeggi Labs raises $5.1m led by a16z crypto to build open-source music creation》
10. Magna
On September 15, the token management platform Magna completed a $15 million seed round of financing, led by Tiger Global, with participation from Solana Ventures, Polygon Ventures, Avalanche Labs, and Galaxy Labs.
Magna is building token distribution software to make it easier for protocols, DAOs, and crypto funds to send and receive tokens. Its features include customizable vesting schedules, multi-signature support, withholding tax and compliance, custody integration, and more.
Additionally, Magna plans to support Solana, Ethereum, and some L2s, as well as blockchains like Aptos this year.
Official website: https://www.magna.so/
Related reading: 《Token Management Platform Magna Raises $15M Seed Round at $70M Valuation》
11. Salus Security
On September 19, blockchain security company Salus Security completed a seed round of financing, led by Binance Labs, with the financing amount undisclosed.
Salus Security is a blockchain security company providing services such as smart contract auditing and automated smart contract vulnerability detection. With the support of its machine learning technology, Salus Security can verify the business logic of smart contracts with minimal friction and effort. It can also automatically conduct thorough checks on the code and data repositories of smart contracts, making blockchain security simpler and more efficient.
Salus Security's core products include but are not limited to: automated smart contract vulnerability detection, supporting multi-engine formal verification, symbolic execution, hybrid fuzz testing, etc. Smart contract auditing helps detect security issues such as denial of service (DoS) attack supervision, functional duplication, rounding errors, etc. Customized security services include on-demand consulting, comprehensive penetration testing, and on-chain asset tracking.
Official website: https://salusec.io/
Related reading: 《Binance Labs Leads Seed Round for Salus Security to Further Advance the Quality of Web3 Security》
12. Kwil
On September 23, decentralized database infrastructure provider Kwil completed a $9.6 million financing round, with participation from FTX Ventures, DCG, and others.
Kwil is a decentralized, community-owned SQL database solution for building advanced dApps and protocols, allowing developers to achieve advanced dApp development in a shorter time.
Kwil launched a decentralized, community-owned platform KwilDB, based on SQL, a standard programming language for interacting with large databases. This solution allows developers to quickly execute complex queries across datasets and access data from other applications, reducing application development time.
Official website: https://kwil.com/
Related reading: 《FTX Ventures, DCG Back $9.6M Funding for Decentralized Database Solution Kwil》
13. TwitterScan
On September 24, the DID social platform TwitterScan completed a $4.56 million seed round of financing, led by Redpoint Ventures, with participation from Sky9 Capital, UpHonest Capital, KuCoin Ventures, and others.
TwitterScan was founded by MetaScan Labs, aiming to create a design-oriented investment tool for Web3, utilizing this funding to accelerate the development of its DID ecosystem and lightweight social platform, and collaborating with CyberConnect and Link3 to develop .NFT DID social infrastructure and build a Web3 domain name system.
In the future, Twitterscan will open API interfaces, allowing any developer to submit applications via email.
Official website: https://twitterscan.com/
Related reading: 《DID Social Platform TwitterScan raised $4.56 Mn Seed Round Led by Redpoint Ventures》
14. Harpie
On September 27, the on-chain firewall provider Harpie completed a $4.5 million seed round of financing, led by Dragonfly Capital, with participation from Coinbase Ventures, OpenSea, and others.
Harpie aims to protect Ethereum wallet users, allowing them to establish a "trusted network" consisting of the applications and users they wish to send tokens to. Any transactions outside this network will be identified as theft and blocked, preventing on-chain attacks such as front-end attacks, phishing attacks, fake website scams, and accidental transfers.
Harpie identifies malicious transactions by allowing users to establish a "trusted network" of protocols and peers. If a user's wallet sends a transfer to someone outside this trusted network, we will block that transaction. Even after a front-end transfer is completed, if a malicious transfer or approval is detected, Harpie will preemptively transfer user funds to a vault by paying a higher gas fee.
Official website: https://harpie.io/
Related reading: 《Coinbase Ventures backs crypto firewall provider Harpie's $4.5 million raise: Exclusive》
15. Coral
On September 27, blockchain infrastructure provider Coral completed a $20 million financing round, led by FTX Ventures and Jump Crypto.
Coral has built the Anchor blockchain development tools and plans to launch an interactive wallet product called Backpack that provides a crypto-native experience through "executable NFTs (xNFTs)," where xNFTs will serve as native applications within Backpack (similar to WeChat mini-programs), allowing users to access on-chain applications, games, or asset portal sites within the wallet.
Currently, Backpack has released a Private Beta version and open-sourced its code. Community members in the Backpack Discord will receive priority access.
Official website: https://www.coral.community/
Related reading: 《Coral Closes $20M Strategic Round From FTX Ventures and Jump Crypto to Build Backpack》
16. Tactic
On September 27, the crypto finance platform Tactic completed an $11 million financing round, led by FTX Ventures, with participation from Coinbase Ventures and others.
Tactic aims to simplify cryptocurrency accounting for businesses holding or interacting with digital currencies, providing a clear view of organized funds and robust transaction audit trails in an accounting-friendly format. Tactic can seamlessly collaborate with existing custodial solutions like Coinbase and traditional financial software like QuickBooks.
Tactic is meeting the inbound demand from Web3 companies preparing for a new round of financing or audits and collaborating with other top providers serving the crypto backend, including startup insurance provider Vouch.
Official website: https://www.tactic.com/
Related reading: 《Tactic Secures $11 Million in Funding to Help Businesses Streamline Crypto Accounting》
17. BitQuery
On September 27, the blockchain data query platform Bitquery completed an $8.5 million seed round of financing, co-led by Binance Labs and dao5.
Bitquery provides a suite of software products to parse, index, and store blockchain data in a unified manner, democratizing data access and addressing pain points associated with on-chain data. Its two main product lines are APIs and data analysis tools, covering over 40 blockchains and providing use cases across verticals such as digital asset exchanges, DeFi protocols, government organizations, and more.
Specifically, Coinpath is a set of API endpoints for tracking funds from any source to any destination, creating fund flow charts, and aggregating transfers to addresses. GraphQL is an open-source data query and manipulation language for APIs, as well as a runtime for completing queries using existing data.
Official website: https://bitquery.io/
Related reading: 《Binance Labs Leads $8.5 Million Seed Funding for Bitquery to Support Development of Blockchain Data Solutions》
18. Eclipse
On September 28, the universal Layer2 infrastructure Eclipse announced the completion of a $15 million Pre-seed and seed round financing at a valuation of over $100 million, with participation from Polychain Capital and others.
Eclipse is a customizable Rollup compatible with multiple Layer1 blockchain networks, helping to scale blockchains by increasing the throughput of chains, allowing applications to process more transactions within a given time frame.
The platform enables developers to deploy their own Rollups powered by the Solana operating system, using any chain for security or data storage. Eclipse plans to launch a public testnet in the Cosmos ecosystem in early 2023 and also plans to support Aptos's Move language in the future.
Official website: https://eclipse.builders/
Related reading: 《Blockchain Infrastructure Project Eclipse Raises $15m To Build 'Universal Layer-2'》
19. Blowfish
On September 30, the Web3 firewall technology provider Blowfish completed an $11.8 million financing round, led by Paradigm, with participation from Dragonfly, Uniswap Capital, and others.
Blowfish aims to help Web3 companies defend against cyberattacks, focusing on helping users easily identify and block fraud before it occurs. In the future, it will allow wallet providers and custodians to provide users with real-time alerts and human-readable transaction information.
Currently, Blowfish is available on Solana, Ethereum, and Polygon blockchains, and it plans to use this funding to expand to new systems and upgrade its fraud detection engine.
Official website: https://blowfish.xyz/
Related reading: 《Paradigm Leads $11.8M Funding Round Into Web3 Firewall Blowfish》
20. Hang
On September 30, the NFT marketing and membership system developer Hang completed a $16 million Series A financing round, led by Paradigm.
Hang aims to help brand enterprises leverage NFT and blockchain technology to establish new loyalty and membership programs, hoping to reshape relationships with loyal consumers.
Hang provides a no-code contract builder, automated art generator, and minting page builder, allowing users to quickly gain NFT membership in an easy and intuitive manner. Additionally, Hang integrates users' membership programs with CRM, POS, e-commerce stores, marketing software, etc., to enhance customer relationships.
Transform your customers into your benefits.
Official website: https://www.hang.xyz/
