Last week, there were a total of 28 public financing events in the cryptocurrency market, with Web3 social and RWA sectors booming | Investment and Financing Weekly Report

整理：饼干，RootData

According to incomplete statistics from RootData, during the period from April 29 to May 5, 2024, there were a total of 28 public financing events in the blockchain and cryptocurrency industry, with a total financing of approximately $135 million.

From the sector distribution perspective, Web3 social is becoming popular, and financing events in the RWA sector have surged. friend.tech released version 2 and launched its native token FRIEND, while Paragraph acquired the Web3 content publishing platform Mirror, focusing on developing a Web3 social application that integrates blockchain and e-commerce based on Farcaster "Kiosk". Popular financing projects in the RWA track include Backed, Balcony, Securitize, Ironlight, and more.

In terms of fund raising and incubators, the cryptocurrency fund XYZ, founded by former Senior Director of Cryptocurrency Affairs at the New York Department of Financial Services Matthew Homer, completed a $5.1 million financing round, with participation from Compound founder Robert Leshner, Multicoin managing partner Kyle Samani, and Gemini co-founders Winklevoss brothers, among others. Microcosm Labs launched the "Move to TON" ecological incubation fund plan, aimed at providing comprehensive support for project teams intending to enter the TON ecosystem, including grants ranging from $5,000 to $50,000.

*（List of projects with financing greater than $5 million last week, data source: * Rootdata）

I. Infrastructure

1. Bitcoin Re-staking Protocol Chakra Completes New Round of Financing with Participation from StarkWare and Others
The Bitcoin re-staking protocol Chakra, based on zero-knowledge technology, announced the completion of a new round of financing on the X platform, with participation from StarkWare, Bixin Ventures, Cogitent Ventures, Trustless Labs, and others. Specific amounts and valuation information have not been disclosed.

According to the Web3 asset data platform RootData, Chakra is a Bitcoin re-staking protocol based on ZK proofs. It uses STARK to prove staking events on Bitcoin and verifies proofs on the second-layer chain. (Source link)

2. Bitcoin Domain Protocol TNA Protocol Completes New Round of Financing with Participation from MH Ventures and Others
The Bitcoin domain protocol TNA Protocol completed a new round of financing with participation from MH Ventures, Cogitent Ventures, and CSP DAO. This round of financing will be used for the development of TNA Core, community expansion, and token liquidity scenario expansion, aiming to promote cross-chain interoperability standards in the Bitcoin ecosystem and facilitate ecosystem expansion. (Source link)

3. Web3 Startup Matera Completes $3.6 Million Financing with Participation from Sidedoor Ventures and Others
Web3 startup Matera announced the completion of $3.6 million in financing to build a platform that addresses monetization challenges in the creator economy. This round of financing includes several well-known companies such as Sidedoor Ventures, HighCass Crypto, Medusa Ventures, The Sandbox, and Saxon Partners.

It is reported that Matera plans to develop a blockchain infrastructure, including a DeFi platform, protocol layer, and L2 network. Currently, Matera supports creators on X, enabling them to raise funds and profit from their loyal fan base. Matera plans to soon expand its integration to other social media platforms. (Source link)

4. GPU Cloud Infrastructure Provider CoreWeave Completes $1.1 Billion Series C Financing Led by Coatue
AI-focused cloud service provider CoreWeave announced the completion of $1.1 billion in Series C financing, led by Coatue, with participation from Magnetar (the main investor in the previous round), Altimeter Capital, Fidelity Management & Research Company, and Lykos Global Management.

It is reported that the new financing will support the rapid growth of CoreWeave's various business areas and expand into new regions to meet the ongoing explosive demand for GPU-accelerated cloud infrastructure worldwide. CoreWeave co-founder and CEO Mike Intrator stated that CoreWeave's position as a key infrastructure provider for AI development is continuously solidifying, and the ongoing trust from high-level investors validates its significant opportunities in defining the next generation of cloud computing.

As enterprises increasingly recognize the potential of AI to enhance efficiency, productivity, expand revenue, reduce costs, and drive growth and innovation at a strategic level, organizations of all sizes and industries are racing to deploy large-scale AI solutions, driving explosive demand for powerful, scalable infrastructure. Traditional cloud providers' generic infrastructure cannot meet the massive parallel processing capabilities and memory requirements needed for AI workloads. (Source link)

5. Dynamic Modular Service Platform Crestal Completes $2 Million Pre-Seed Financing with Participation from MH Ventures and Others
Dynamic modular service platform Crestal announced the completion of $2 million in Pre-Seed financing, with participation from MH Ventures, Cogitent Ventures, and NxGen. The new funds will be used to accelerate the construction of modular services. (Source link)

II. CeFi

1. Tokenized Asset Issuer Backed Completes $9.5 Million New Round of Financing
Tokenized asset issuer Backed completed a new round of financing of $9.5 million, led by Gnosis, with participation from Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic. With this investment, the company aims to accelerate its private tokenized issuance and asset management company's entry into blockchain channels.

According to the Web3 asset data platform RootData, Backed is the infrastructure for on-chain capital markets, connecting real-world assets to the chain. Backed issues ERC-20 tokens that track the value of real-world assets, such as stocks or ETFs. The tokens can be freely transferred across wallets, are fully collateralized by the underlying assets, and are issued in accordance with Swiss DLT laws.

2. Hybrid Crypto Exchange X10 Completes $6.5 Million Financing with Participation from Tioga Capital and Others
Hybrid cryptocurrency exchange X10 announced the completion of $6.5 million in financing, with investors including Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber Fund, as well as notable angel investors such as executives from Revolut and Lido founder Konstantin Lomashuk.

X10 was founded by former Revolut crypto business head Ruslan Fakhrutdinov, aiming to combine the advantages of centralized exchanges (CeFi) and decentralized finance (DeFi) to provide users with a Revolut-like experience and self-custody of funds. The new financing will be used to build a brand new crypto exchange that achieves self-custody of funds while providing a high-quality user experience. (Source link)

3. Crypto Trading Ecosystem LazyBear Completes $4 Million Strategic Financing with Participation from DWF Labs and Others
The cryptocurrency trading ecosystem LazyBear announced the completion of $4 million USDT in strategic financing, with participation from Gogeko Labs, DWF Labs, Shadow Labs, Salad Labs, Bees Network, REI Network, IBIT, Crypto Bullish, SYNBO Protocol, Bazaars, Sypool, Bitcoin Gbox, GemX Crypto, and Wikibit.

It is reported that LazyBear is a cryptocurrency trading ecosystem aimed at providing users with an industry-low fee, inclusive, and enjoyable trading experience. (Source link)

III. DeFi

1. Celestia Staking Protocol MilkyWay Completes $5 Million Financing with Joint Leadership from Binance Labs and Polychain Capital
The Celestia ecosystem's liquid staking protocol MilkyWay completed $5 million in financing, jointly led by Binance Labs and Polychain Capital, with participation from Hack VC, Crypto.com Capital, and LongHash Ventures. It is reported that the structure of this round of financing includes a simple agreement for future equity (SAFE) and token warrants for joint lead investors, as well as a simple agreement for future tokens (SAFT) for participating investors.

According to the Web3 asset data platform RootData, MilkyWay is a liquid staking solution in the Celestia ecosystem, initially deployed and operated on Osmosis, with long-term plans to migrate to Celestia's rollkit for native milkTIA issuance. When users perform liquid staking of TIA tokens on MilkyWay, they receive an on-chain representation of TIA staking status, called milkTIA. This allows Celestia token holders to gain liquidity on their staked assets, enabling trading or using them as collateral for various DeFi products. (Source link)

2. RWA Tokenization Platform Securitize Completes $47 Million Strategic Financing Led by BlackRock
RWA tokenization platform Securitize completed $47 million in strategic financing, led by BlackRock, with participation from Hamilton Lane, ParaFi Capital, Tradeweb Markets, Aptos Labs, Circle, and Paxos. The funds from this round of financing will be used to accelerate product development and further strengthen its partnerships in the financial services ecosystem.

As part of the investment, Joseph Chalom, BlackRock's Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize's board of directors. (Source link)

3. OKX Ventures Announces Lead Investment in Multi-Chain Liquid Re-staking Protocol BedRock
OKX Ventures announced its lead investment in the multi-chain liquid re-staking protocol Bedrock. Bedrock provides users with institutional-grade services and has so far re-staked a total value of over $200 million, with plans to further innovate by building the first liquid-staked Bitcoin (uniBTC) on Babylon.

Dora Yue, founder of OKX Ventures, stated, "With the booming development of DeFi, the total on-chain staking value has exceeded $93.4 billion, of which 48% comes from the liquid re-staking sector. The investment in Bedrock aims to accelerate liquid re-staking solutions. We hope to provide community users with diversified and secure asset management options. We look forward to the gradual maturation and systematization of DeFi use cases, promoting the sustainable development of the Web3 industry."

4. Modular Liquidity Protocol Mitosis Completes $7 Million Financing Led by Foresight Ventures and Amber Group
Modular liquidity protocol Mitosis announced that it has completed $7 million in financing, led by Amber Group and Foresight Ventures, with participation from Big Brain Holdings, Folius Ventures, Citizen X, GSR, Cogitent Ventures, No Limit Holdings, Digital Asset Capital Management, Pivot Global, Everstake, and angel investors from Zellic, XAI, ether.fi, Hyperlane, Osmosis, DefiLlama, Injective, Keplr, Puffer, Curve, and Interchain.

Mitosis's Expedition event Epoch 2 will start at 23:00 Beijing time on May 2, with Epoch 1 having started at 23:00 on April 25.

It is reported that Mitosis is a liquidity protocol for the modular era, aiming to redefine cross-chain liquidity. It makes cross-chain LPing more attractive by providing liquidity for cross-chain LPing. Mitosis LPs receive derivative tokens that can be exchanged 1:1 for their locked assets. LPs can use these derivative tokens to participate in various DeFi applications on supported Ethereum L1 chains and L2 Rollups, essentially allowing LPs to earn additional yields on their cross-chain assets based on default fee sharing. (Source link)

5. RWA Market Ironlight Completes $12 Million Financing, Investor Information Not Disclosed
RWA market Ironlight announced the completion of $12 million in financing, with specific investor information not disclosed. It is reported that Ironlight was founded by Rob McGrath and Matt Celebuski, aiming to tokenize private securities that typically lack liquidity, such as real estate, natural resources, fine arts, public infrastructure, and private equity, with the goal of becoming a tokenized real-world asset (RWA) market regulated by the SEC, and will initiate the registration process in the future. (Source link)

6. Cross-Chain DeFi Protocol EYWA Completes $7 Million Financing Led by Curve Founder
Cross-chain DeFi protocol EYWA completed $7 million in seed financing, led by Curve Finance founder Michael Egorov, with participation from Fenbushi Capital, GBV Capital, Big Brain Holdings, Marshland Capital, and Mulana Capital.

It is reported that EYWA and Curve are jointly developing a trustless bridge. (Source link)

7. RWA Blockchain Platform Balcony Completes Pre-Seed Financing with Participation from Avalanche Blizzard Fund
Blockchain infrastructure company Balcony from New Jersey, USA, announced the completion of Pre-Seed financing with participation from Avalanche Blizzard Fund, with specific amounts and valuation information not disclosed. The new financing will be used to expand operations and development efforts.

It is reported that Balcony is committed to building an RWA blockchain platform for institutions and government agencies, providing on-chain transaction and asset settlement services, currently primarily applied in the real estate sector. (Source link)

8. DeFi Protocol Amphor Completes $4 Million Seed Financing
DeFi protocol Amphor, incubated by hedge fund MEV Capital, announced the completion of $4 million in seed financing, with participation from over 80 angel investors in the cryptocurrency industry. The project aims to simplify ordinary investors' investments in the DeFi space using algorithms and on-chain technology solutions, with specific valuation data not disclosed. (Source link)

IV. Gaming

1. Blockchain Game Developer Overworld Receives Investment from DWF Ventures
DWF Ventures announced its investment in blockchain game developer Overworld, which is about to launch the main world arena. Additionally, Overworld recently announced plans to launch another NFT series.

According to the Web3 asset data platform RootData, blockchain game developer Overworld completed $10 million in seed financing in February this year, with this round led by Hashed, TheSpartanGroup, SanctorCapital, and GalaxyInteractive, with participation from Hashkey, BigBrainHoldings, and ForesightVentures. (Source link)

2. Full-Chain Game Studio Blade Games Completes $2.4 Million Seed Financing Led by PTC Crypto and IOSG Ventures
Full-chain game studio and infrastructure provider Blade Games completed $2.4 million in seed financing, co-led by PTC Crypto and IOSG Ventures, with participation from Bonfire Union Ventures, Animoca Ventures, Mantle, ForesightX, Formless Capital, Public Works, Puzzle Ventures, K300 Ventures, and others.

Games built using Blade Game's self-developed zk game engine can run game logic in zkVM and push state differences as zkSNARK proofs to the chain, which are then verified on L2. The zk game engine currently processes up to 12-15 frames per second and is about to update its batch proofing capabilities. The engine currently supports all game studios in developing survival, tower defense, RPG, and roguelike card building games.

Blade Games' self-developed game Dune Factory launched its internal testing on May 1 and announced the internal testing rules and rewards on April 29. The game is planned for public testing at the end of May. (Source link)

3. Web3 Game Studio Games for a Living (GFAL) Secures $3.2 Million Seed Financing with Participation from Supercell, Mitch Lasky, and Others
Web3 game development studio Games for a Living (GFAL) secured $3.2 million in seed financing, with participation from Supercell, Mitch Lasky, and others. Additionally, GFAL has trial-launched its mobile game Elemental Raiders and plans to conduct several soft launches in the fourth quarter of 2024, transitioning to a full version in 2025.

According to the RootData page, Games for a Living (GFAL) is headquartered in Barcelona and is a pioneering video game development and publishing studio, with team leaders having held positions at industry-leading companies such as King Entertainment, Activision Blizzard, Electronic Arts, Netflix, and Digital Chocolate. GFAL successfully launched the GFAL token in Q1 2023, raising $4.4 million in funding. (Source link)

4. Web3 Game Shadow War Completes $5 Million Financing Led by Momentum 6
Swedish game studio Patriots Division has raised $5 million for its Web3 game Shadow War in seed and Series A financing, with Series A financing led by Momentum 6, and participation from iAngels, Cointelligence Fund, Xborg, Andromeda VC, Cogitent Ventures, and Cluster Capital.

It is reported that Shadow War is a 5v5 third-person action game set in a sci-fi future, drawing inspiration from well-known games such as Overwatch and League of Legends, focusing on the fusion of futurism, fantasy, action, and competition. Shadow War emphasizes melee combat and tactical strategy, aiming to reward skill-based players while avoiding pay-to-win elements that hinder competitive integrity. (Source link)

V. NFT

1. LayerZero Ecosystem's Omnichain NFT Protocol Holograph Completes $3 Million New Round of Financing Led by Mechanism Capital and Selini Capital
LayerZero ecosystem's omnichain NFT protocol Holograph announced the completion of a new round of strategic financing of $3 million, led by Mechanism Capital and Selini Capital, with participation from Northrock Capital, Arca, Courtside Ventures, and Hartmann Capital from Hal Press. So far, the project's total financing has reached $11 million.

Holograph's omnichain technology allows the creation of NFT assets that can be used across multiple Ethereum-compatible blockchains. The new funds aim to accelerate its expansion into the growing blockchain gaming market, focusing on supporting tokens on Ethereum-compatible networks, including Optimism, Arbitrum, Avalanche, BNB Chain, Base, Mantle, Zora, and Linea.

According to the Web3 asset data platform RootData, Holograph is an omnichain tokenization protocol that enables asset issuers to mint native composable omnichain tokens. Holograph works by burning tokens on the source chain, sending messages to the target chain through a messaging protocol, and then re-sending the same number of tokens to the same contract address. This unifies liquidity, eliminates slippage, and maintains interchangeability between blockchains. (Source link)

2. Game-Focused NFT Integration Protocol STYLE Protocol Completes $2.5 Million Seed Financing with Participation from GBV Capital and Others
Game-focused NFT integration protocol STYLE Protocol announced the completion of $2.5 million in seed financing, with participation from Morningstar Ventures, Dutch Crypto Investors, GBV Capital, Protocol Labs, Alpha Ventures, and a group of founders from crypto projects. The protocol aims to unlock the potential of NFTs by seamlessly integrating them into any game or metaverse, allowing 2D images or NFTs to be converted into 3D assets for participation in games, currently supporting Ethereum, Polygon, Binance Smart Chain, and Solana blockchains.

Additionally, according to the Web3 asset data platform RootData, STYLE Protocol is a decentralized infrastructure that enables the licensing and interoperability of assets and NFTs in any virtual environment. The $STYLE token unlocks the availability of customizable avatars and in-game assets in the virtual world. (Source link)

VI. Others

1. Cryptocurrency Accounting Firm Harris and Trotter Digital Assets Completes $10 Million Strategic Financing Led by Orbs
London-based cryptocurrency accounting firm Harris and Trotter Digital Assets announced the completion of $10 million in strategic financing to address the accounting issues faced by all Web3 projects. This round of financing was led by Orbs, with participation from Kingsway Capital, RE7 Capital, and other notable individuals from the Web3 community. The financing was conducted at an equity pricing method, valuing Harris and Trotter Digital Assets at $85 million.

The executive team of Harris and Trotter Digital Assets has previously worked at major accounting firms such as PwC, KPMG, Deloitte, EY, and BDO, with a team of over 45 people. CEO Nicholas Newman stated that digital assets are a rapidly evolving technological field, and their demand can only be met by professional service companies with similar technical capabilities. This strategic investment aligns the company with the largest drivers and leaders in the industry, helping to further enhance technical capabilities as they release an increasing number of SAAS products and services.

This round of investment will further drive the rapid growth of Harris and Trotter Digital Assets, continuing to expand on its existing base of approximately 500 crypto-native clients. Ran Hammer, Vice President of Business Development at Orbs, stated that Harris and Trotter Digital Assets combines expertise with blockchain technology and now hopes to operate at the forefront of fintech, providing tools such as proof of reserves. (Source link)

2. Web3 Content Distribution Protocol Metale Protocol Completes $2 Million Financing with Participation from Waterdrip Capital and Others
Web3 content distribution protocol Metale Protocol recently announced an additional $2 million in financing, with participation from Waterdrip Capital, Aipollo Investment, and Ultiverse, bringing its total seed round financing to $4 million.

The new funds will be allocated to its ecological content creation fund to stimulate more content creation activities and promote its protocol in building a content asset issuance and distribution platform on-chain.

Previously, in September 2023, the Web3 decentralized reading application Read2N announced a brand upgrade and rebranded as Metale Protocol. (Source link)

3. Web3 Wine Marketplace Baxus Completes $5 Million Financing Led by Multicoin Capital
Web3 wine marketplace Baxus completed $5 million in financing, led by Multicoin Capital, with participation from Solana Ventures, Narwhal Ventures, FJ Labs, and a group of angel investors.

BAXUS aims to connect buyers and sellers by integrating the marketplace into a single application, addressing market inefficiencies. Its Web3 marketplace is built on Solana, allowing buyers to transact using credit cards, ACH, wire transfers, or cryptocurrencies including USDC. The beta version was launched last summer and has facilitated $8 million in transactions to date. (Source link)

4. Crypto Voting Service Platform Agora Completes $5 Million Financing Led by Haun Ventures
Crypto voting service platform Agora announced the completion of $5 million in seed financing, led by Haun Ventures, with participation from Coinbase Ventures, Seed Club Ventures, and Consensys Ventures.

Agora aims to create a new governance software standard for protocols, helping them organize their voting systems more efficiently. Uniswap, Optimism, and Nouns are among its early clients. (Source link)

5. Web3 Content Publishing Platform Paragraph Completes $5 Million Financing with Participation from Coinbase Ventures and Others
Web3 content publishing platform Paragraph, in addition to acquiring the Ethereum-based blogging platform Mirror, has raised $5 million in new financing, with participation from Union Square Ventures and Coinbase Ventures. Paragraph founder Colin Armstrong will serve as CEO, while Mirror founder Denis Nazarov will take on an advisory role. (Source link)

6. Web3 Security Service Provider Resonance Security Completes $1.5 Million Pre-Seed Financing Led by Arca and Others
Web3 comprehensive cybersecurity service provider Resonance Security completed $1.5 million in Pre-Seed financing, co-led by Arca, Fabric VC, and Blockchain Founders Fund. The new financing will be used to further accelerate expansion.

It is reported that Resonance Security combines its expertise with a full suite of security solutions, including smart contract, blockchain and code auditing, penetration testing, CI/CD and cloud security, AI threat modeling, a comprehensive cybersecurity product library, built-in cybersecurity applications, notification and guidance systems, fully supported cybersecurity gateways, and cybersecurity education. (Source link)