Last week, there were a total of 30 public financing events in the cryptocurrency market, raising approximately $192 million | Investment and Financing Weekly Report
L1 network Quai Network completed a $5 million strategic round of financing, with participation from Cogitent Ventures; gaming company Gameplay Galaxy secured $11.17 million in funding, led by Blockchain Capital and Merit Circle.Organizer: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from August 26 to September 1, 2024, there were a total of 30 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $192 million.
From the distribution of sectors, the projects that received financing are mainly concentrated in the infrastructure and DeFi sectors. Popular projects include the L1 network Quai Network, the decentralized data platform Space and Time, the multi-chain no-code Launchpad project Parlay Labs, the Web3 service provider Verofax, and the cross-border remittance platform Kredete.
In addition, the Web3 payment company Bridge, founded by former Coinbase and Square employees, has completed $58 million in financing, with participation from Sequoia Capital, Ribbit, Index, and Haun Ventures.
*（List of projects with financing greater than $5 million last week, data source: * Rootdata）
1. Infrastructure
Oasys collaborates with Japanese financial giant SBI Holdings to promote blockchain gaming
According to Cryptoslate, the blockchain platform Oasys, focused on the gaming industry, announced on August 29 that it has established a strategic partnership with the Japanese financial group SBI Holdings. This collaboration includes a financial investment from SBI Holdings, which will be used to increase the liquidity of Oasys's native OAS token and support the continued expansion of its blockchain ecosystem.
The latest collaboration supports multiple blockchain-based games set to be released later this year. These games are being developed in collaboration with well-known gaming companies such as SEGA and Ubisoft, which also serve as validators on the Oasys platform, aiming to create "AAA" level web3 games.
Stablecoin payment company Bridge completes $58 million financing, with participation from Sequoia Capital and others
According to The Block, the Web3 payment company Bridge, founded by former Coinbase and Square employees, has completed $58 million in financing, with participation from Sequoia Capital, Ribbit, Index, and Haun Ventures.
Bridge is building a stablecoin-based payment platform that offers cross-border payments and foreign exchange services. It has partnered with Bitso to conduct stablecoin-based B2B cross-border payments in Latin America.
Alchemy acquires blockchain infrastructure provider Bware
According to The Block, Web3 development company Alchemy announced the acquisition of Romanian blockchain infrastructure provider Bware, with the specific acquisition amount not disclosed.
It is reported that this acquisition will not affect Alchemy or Bware customers, and Alchemy will not take over Bware's INFRA decentralized network and its tokens. This acquisition will expand Alchemy's business in Europe.
Incubated by Future3 Campus, Edge Matrix Chain (EMC) has completed $20 million in financing, led by Amber Group and Polygon Venture, with participation from One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury, and other well-known investment institutions.
Edge Matrix Chain (EMC) will use this financing to upgrade to AI Layer1 infrastructure, further accelerating the expansion and development of its ecosystem. Users can obtain EMC tokens by participating in the testnet and experience innovative AI public chain technology.
According to The Block, L1 network Quai Network has completed $5 million in strategic round financing, with participation from Cogitent Ventures, MH Ventures, TPC Ventures, Giga Chad Ventures, and DexCheck Ventures. After previous rounds of financing, the company's total financing has reached $15 million, of which $10 million comes from Polychain Capital, Alumni Ventures, and other companies.
It is reported that the new funds will be used to expand the project's engineering and developer relations team, support R&D work, and invest in community engagement programs.
Japanese game public chain Oasys developer double jump.tokyo announced that it has raised over $10 million in the first round of Series D financing, led by SBI Investment. Participating investors include Sony Group Corporation, Taisu Ventures, Gate Ventures, TM Capital, Inc., Bing Ventures Ltd., and a well-known entity that wishes to remain anonymous. This funding will be used for further development and support of blockchain games, blockchain infrastructure, and related services, while strengthening the company's organizational structure and talent base.
The new round of financing will enhance the strategic partnership between double jump.tokyo and its investors. The company will deepen cooperation with the SBI Group on Web3 services such as the NFT market and promote development on Sony Group's blockchain "Soneium" to expand Web3 content and services. A key focus for the company is the upcoming release of the blockchain game "Battle of Three Kingdoms," based on SEGA's popular IP "Sangokushi Taisen."
Solana ecosystem re-staking protocol Solayer has completed $12 million in seed round financing, led by Polychain Capital, with participation from Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE, and Arthur Hayes's family office Maelstrom, with a post-investment valuation of $80 million.
Co-founder Rachel Chu revealed that this round of financing ended in May, structured as a Simple Agreement for Future Equity (SAFE) plus token warrants. The new financing will be used to expand the team, integrate new protocols, and prepare for the second phase of the platform, with plans to hire more staff in functions such as growth, institutional partnerships, and engineering. Solayer also plans to launch its native token in the future, which is currently "in design."
It is reported that earlier this month, Binance Labs announced that it had invested in Solayer, which is part of the same $12 million seed round financing. Last month, Solayer also announced an undisclosed amount of Pre-Seed financing, with angel investors including Solana co-founder Anatoly Yakovenko and Polygon co-founder Sandeep Nailwal.
According to The Block, Solana Optimistic Network (SOON) announced the completion of a new round of financing, with participation from Solana Foundation chair Lily Liu, Solana Labs co-founder Anatoly Yakovenko, Coinbase Ventures head Jonathan King, Celestia Labs co-founder Mustafa Al-Bassam, Avail co-founder Robinson Burkey, and Wormhole Foundation co-founder Robinson Burkey, with specific amounts not disclosed.
It is reported that the funds raised by Solana Optimistic Network will be used to build it into "the highest throughput rollup stack, providing scalability and efficiency for decentralized applications and any Layer 1 blockchain," by building flagship products SOON Stack and SOON Mainnet.
According to Fortune, decentralized data platform Space and Time announced the completion of $20 million in Series A financing, with participation from Framework Ventures, Lightspeed Faction, Arrington Capital, Hivemind Capital, and others, with specific valuation data not disclosed. The company is committed to bringing the immutability of blockchain into AI applications to address the verifiability issues brought by AI.
Space and Time co-founder and CEO Nate Holiday stated that in an AI-driven world, it is crucial to distinguish between AI-generated content and human/business-generated content. The company's technology aims to ensure the verifiability, credibility, and transparency of AI application outputs. Space and Time was initially positioned as a decentralized version of the data storage service Snowflake, providing fast data retrieval services for blockchain applications that require storing large amounts of user information, such as DeFi.
Web3 trusted account framework protocol OneBalance has completed $5 million in angel and community round financing, led by Konstantin Lomashuk and Vasiliy Shapovalov of Cyber Fund. Independent investors participating include Yearn Finance developer Banteg, crypto KOL cobie, Across founder Hart Lambort, Wintermute chief researcher Igor Igamberdiev, WalletConnect founder Pedro Gomes, Li.Fi founder Philipp Zentner, and others.
OneBalance stated: "It believes that transitioning to a better Web3 user experience requires an inclusive, collaborative, and community-oriented approach. Therefore, it invited the best builders and community members in the field for the first round of fundraising."
According to RootData, OneBalance is a new framework for trusted accounts—combining chain abstraction, gas abstraction, and permission management to address the fragmented Web3 user experience.
Crypto development company Chainbound completes $4.6 million financing, led by Cyber Fund
According to The Block, crypto development company Chainbound has completed $4.6 million in financing, led by Cyber Fund, with participation from Maven 11, Robot Ventures, and Bankless Ventures.
It is reported that this startup is developing a protocol called Bolt, which will achieve sub-second transaction confirmations on Ethereum, significantly speeding up the current average transaction confirmation time of around 7 seconds.
2. DeFi
Parlay Labs launches a $2 million financing round, led by DNA.fund
The multi-chain no-code Launchpad project Parlay Labs announced the launch of a $2 million financing round, led by DNA.fund, with participation from Market Rebellion co-founder and FOX Business and CNBC television personality Jon Najarian, as well as EOS New York co-founder Rick Schlesinger. Parlay is the first such platform on Ethereum and the first platform to integrate Ethereum, Base, Optimism, Arbitrum, Avalanche, Polygon, BSC, and Blast multi-chain Launchpad and token trading. The new funds are intended to add more networks and enhance product features.
According to official news, DEX aggregator ODOS announced the completion of Series A financing, with participation from CEIC (CE Innovation Capital), Uniswap, Curved Ventures, Orbs Network, Mantle Network, PAKA Fund, and some well-known angel investors.
According to The Block, blockchain development and research company Peregrine Exploration has completed $3.6 million in financing, led by Polychain Capital and Dragonfly, with participation from Robot Ventures, Pier Two, EIV, Global Coin Research, and angel investors such as Balaji Srinivasan, Jeff Fang, Julian Koh, and Sidney Powell.
It is reported that the new funds will be used to develop a stablecoin protocol called Level.
Universal lending market Echelon Market has completed $3.5 million in seed round financing, led by Amber Group, with participation from Laser Digital, Saison Capital, 280 Capital, Cypher Capital, and others.
Echelon's core money market enables asset lending through non-custodial pools. All positions are over-collateralized to protect lenders while providing borrowers with maximum capital efficiency and cost-effective rates.
According to RootData, Echelon is a decentralized finance market written in the Move programming language. Its users can indirectly borrow and lend assets through non-custodial pools to earn interest or increase purchasing power through leverage.
Automated leverage protocol Origami Finance announced on X platform that it has completed $1.5 million in seed round financing, with participation from Ouroboros Capital, Fjord Foundry, Good Partners, Upside, BeraLand, TempleDAO, Boba Tea Capital, Three Three Ventures, Smokey The Bera, janitooor.eth, and others. Relevant valuation information has not been disclosed, and the new funds will be used to build its automated leverage protocol launched on Ethereum and BeraChain.
It is reported that the protocol supports integration with third-party lending services, enabling automated yield-bearing token (YBT) exposure, thereby improving capital efficiency and reducing liquidation and bad debt risks.
BTA Protocol announced the completion of $1.5 million in Series A financing, led by Athena Ventures, with participation from RippleBank, CoinIX, Swiss Fund, Vessel Capital, Seed Club Ventures, Hulif Fund, Three M Capital, Faculty Capital, CoinVisionary, and others.
It is reported that BTA Protocol is a decentralized ecological protocol based on BTC. BTA Protocol has applications such as staking protocol, liquidity protocol, range stability protocol (RSP), launch pool, and lending protocol.
3. AI
Decentralized AI search network Adot receives strategic financing from Aptos
Founded by former Google engineers, the decentralized AI search network Adot (a.xyz) announced a strategic partnership with Aptos and received strategic investment from them. This move will help Adot deepen its layout in the Aptos ecosystem, further optimize search technology, and support the construction and development of the Aptos ecosystem in innovative ways, laying the foundation for its long-term success in the Web3 field.
Previously, Adot had raised a total of $6 million through pre-seed financing rounds, with early investors including gumi Cryptos Capital, Hash Global, SevenX Ventures, Mask Network, and other investment institutions and individual investors. Adot has released a collaboration video with Aptos on its official social media. Through this collaboration, Adot will bring a more convenient and efficient search experience to Aptos users and jointly promote the prosperous development of the Aptos ecosystem.
Web3 AI immersive companion development company Nectar AI announced the completion of $3.9 million in financing, led by Mechanism Capital and Karatage, with participation from Synergis, Maelstrom (Arthur Hayes), Builder Capital, Baboon, Decima, and crypto industry insiders such as Dao5 co-founder Tekin Salimi and George Lambeth, and YGG co-founder Gabby Dizon. Nectar AI combines generative AI and Web3 to build multi-modal AI partners, allowing creators to have complete IP ownership of their assets and monetize them without permission. The company plans to release an on-chain AI agent protocol by the end of the year.
4. Gaming
Web3 game developer Legend of Arcadia has completed $4 million in seed round financing, with participation from Animoca Brands, OKX Ventures, Arche Fund, and Selini Capital. It is reported that Legend of Arcadia is currently developing a card role-playing game that can be accessed for free on mobile devices and will launch an in-game cryptocurrency ARCA.
Casual game SnakeLite completes multi-million dollar financing
According to Cointelegraph, the casual game project SnakeLite announced the completion of multi-million dollar financing, with investors including Ace Redpoint Ventures, One Piece Labs, Mirana Ventures, Sky9 Capital, Fenbushi US, NGC, Antalpha Ventures, Gate Labs, KuCoin Ventures, Huobi Ventures, CyberConnect, Alchemy Pay, Redline Labs, Cobo Ventures, SNZ Holding, ViaBTC Capital, and others.
SnakeLite has launched a battle royale PvP game on the TON blockchain, featuring a mining model integrated with Telegram, as well as casual PvE and PvP modes, allowing players to earn tokens through game interactions. SnakeLite currently supports multiple chains including TON, Solana, Ethereum, BNB Chain, and Sonic.
According to The Block, Web3 game development studio Gameplay Galaxy raised $11.17 million in its latest seed round extension financing, led by Blockchain Capital and Merit Circle. Founder and CEO Doron Kagan stated that Gameplay Galaxy began its seed round financing in May this year and concluded it last month. This round of financing was conducted in the form of equity financing, accompanied by token warrants, bringing the company's valuation to $71 million.
According to asset data platform RootData, Gameplay Galaxy completed $12.8 million in financing in September 2022, and the company's total financing has now reached $24 million.
5. Others
Cross-border remittance platform Kredete completes $2.25 million seed round financing, led by BFF
Cross-border remittance platform Kredete announced the completion of $2.25 million in seed round financing, led by BFF, with participation from Techstars, Tezos Foundation, Polymorphic Capital, Launch Africa, Neer Venture Partners, SDF, and DNA Fund, among other well-known investment institutions.
According to Web3 asset data platform RootData, Kredete is a financial platform dedicated to helping African immigrants build credit and send money home at low costs. Kredete uses stablecoins to significantly reduce remittance fees to less than one dollar.
Web3 service provider Verofax completes $3 million financing, led by Navig8 Group and others
According to Assiyaq, UAE-based Web3 service provider Verofax announced the completion of $3 million in bridge financing. This round of financing was led by King Abdullah University of Science and Technology, Plug & Play Tech Center, Navig8 Group, and Trove Capital UK, among other investors. Other participants in this round of financing include Jawa Brothers Advisory, Alzamil Pedco CVC, and Tracecore CVC.
The newly acquired funds will be used to advance Verofax's projects in the Middle East and the EU. These projects include AI guidelines tailored for the Gulf Cooperation Council region and sports fan guides for EU and North American audiences.
Verofax was founded in 2018 by Wassim Merheby and Jamil Zablah, leveraging Web3 technologies (such as augmented reality, blockchain, and AI) to enhance marketing experiences for visitors, shoppers, and brands.
It is reported that in 2022, Verofax raised $1.5 million in pre-A round financing led by Benson Oak Ventures, with participation from 500 Global, Wami Capital, and Vernalis Capital.
Aptos Labs announced a strategic investment in Mereo, aiming to change the connection between artists and fans through an innovative fan interaction platform and address asset resale issues related to intellectual property.
The Mereo platform helps artists identify and reward true fans, who gain access to real assets through historical behavior, enjoying benefits such as early purchase of merchandise and enhanced live experiences. These contributions are recorded on-chain in the form of non-transferable digital assets.
Aptos Labs is developing new solutions using digital asset standards (DA) to ensure that artists allocate assets to loyal fans through non-transferable tokenized assets, preventing resale behavior.
Time tokenization platform Time.fun completes $3 million seed round financing
According to The Block, time tokenization platform Time.fun has completed $3 million in seed round financing, led by Brevan Howard Digital. Other investors include Coinbase Ventures, Breed VC, Zee Prime Capital, and Arthur Hayes's family office Maelstrom, as well as angel investors such as Solana co-founder Anatoly Yakovenko and Raj Gokal.
Time.fun is based on the Ethereum Layer 2 blockchain Base, helping creators tokenize their time, allowing users to buy, sell, and exchange creators' time for private messages or one-on-one calls.
Since its launch on June 17, Time.fun has completed approximately 570 ETH (about $2 million) in transaction volume, with creator earnings of about 15 ETH (about $60,000). Time.fun adopts a supply-demand curve mechanism and plans to issue its own token in the future, with specific timing to be determined.
Crypto trading platform Neverless completes $6.7 million financing
According to Chainwire, the crypto trading platform Neverless, launched by three former Revolut executives, has completed $6.7 million in financing, with participating parties not yet disclosed. The application allows for commission-free crypto trading and invests in an automated investment account. Neverless allows users to buy and sell cryptocurrencies with zero fees.
It is reported that a few months ago, the company registered as a virtual asset service provider (VASP) with the Bank of Spain.
According to Arabian Business, UAE-based Web3 streaming platform Myco announced the completion of $10 million in Series A financing, with participation from Daman Investments, Aptos Labs, B Digital, Mocha Ventures, Art3 Foundation, Ghaf Capital Partners, Mix Media Network, Factor6 Capital Partners, and Enjinstarter, along with a group of angel investors. The company's valuation in this round of financing reached $80 million, and the new funds will be used to further expand into the Middle East and North American markets.
Myco is a content traffic dApp that supports seamless integration of AVOD and SVOD functions in a decentralized environment, driven by a vision of truly empowering and owning content for audiences and content owners. Currently, the content covers sports live broadcasts, movies, documentaries, and UGC content.
According to Cointelegraph, on-chain project financing platform Legion announced the completion of $2 million in seed round financing, led by Cyber Fund, with participation from AllianceDAO, Delphi Labs, CoinGecko, Mike Dudas, Alex Svanevik, Peter Smith, Maggie Love, Jon Wu, Ryan Watkins, LongHash, and others.
It is reported that Legion is building its reputation system and accountability layer and is seeking to obtain the necessary VASP/CASP licenses to facilitate token pre-financing and token sales for non-recognized investors under MiCA.
According to official news, multi-chain launch platform BSCS announced the completion of strategic round financing, with participation from K300 Ventures, with specific amounts not disclosed. The new funds are intended for platform upgrades, expanding marketing and community activities, and launching joint incubation programs.
