Web3’s dominance in crypto funding rounds has been well documented by Cointelegraph Research. In addition to the recently documented Web3 mega-funds, private equity has also been making smaller, more targeted investments in the sector.. At this week’s Venture Capital (VC) Roundup, we chronicle Web3’s latest funding initiatives, drawing attention to a sharding platform, non-fungible token (NFT) marketplace, cryptocurrency banking solution and a co-owned infrastructure provider.
Players, athletes and content creators endorse WWVentures
WWVentures, a boutique cryptocurrency-related startup firm, has raised $15 million for its Web3 fund, putting the company on track to invest in metaverse startups, decentralized finance, and blockchain gaming.. The funding round was backed by a number of notable gamers, content creators, and athletes, including former UFC champion Michael Bisping and Liverpool FC’s Trent Alexander Arnold. The fund will focus exclusively on startups with a “community-first approach.” ” for development and will help its growth through social capital and support for community building.
Happy to be involved with this project and a proud investor. Let’s go! @WW_Ventures https://t.co/q6td5fiDna
— michael (@bisping) September 27, 2022
I am glad to participate in this project and to be a proud investor. Let’s go! @WW_Ventures
Scalability-Focused Blockchain Raises $18.2 Million
Ethereum Virtual Machine-based blockchain Shardeum has received $18.2 million in seed funding from over 50 investorsincluding venture capital firms Jane Street, The Spartan Group and DFG. Shardeum is a proof-of-stake network focused on solving one of the biggest problems of the blockchain: scalability.. As the name suggests, the platform uses sharding —a type of database partition— to increase performance capacity. Shardeum claims that its scalability is superior to other layer 1 blockchains.
Avalanche Native Platform Raises $6 Million For NFT Market
Myna Swap, a luxury collectibles marketplace that allows users to convert their physical assets into digital twins via NFT, has raised $6 million in seed funding. Investors include Polygon Studios, Blizzard Avalanche Fund, Spartan Capital, and Wave Financial. The platform, which offers trading and vaulting services, is geared towards sneaker, sports card, and watch collectors, and is built on the Avalanche blockchain. Myna Swap is scheduled to launch later this year.
Alexis Ohanian backs Antic for a $7 million raise
Antic, the web3 co-owned infrastructure provider, has raised $7 million in funding led by Sheva and Alexis Ohanian’s Seven Seven Six venture firm, with additional participation from Pantera Capital, Sound Ventures and Dapper Labs. Antic described co-ownership technology as an emerging concept within the Web3 community that allows companies to more easily establish blockchain-based ownership models..
Cryptocurrency Banking Platform Closes $18M Series A
Web3 banking platform Juno has raised $18 million in a series A funding led by ParaFi Capitalwith additional participation from Hashed, Jump Crypto and others. Juno offers a native cryptocurrency checking account that allows users to bank their digital assets more easily. Following the investment round, Juno plans to expand its product offerings and launch a tokenized loyalty program that allows users to earn coins for taking their payroll in crypto or spending digital assets with their Juno card.
Wintermute Labs leads Zerion’s funding round
Web3 and DeFi wallet aggregator Zerion has closed a $12.3 million Series B funding round led by Wintermute Labs, the venture arm of liquidity provider Wintermute. Zerion will use the funding to further develop its Web3 wallet, integrating advanced data and enabling better cross-chain identity management for Ethereum-compatible blockchains.. Zerion claims that his trading volume has grown from $47 million in 2019 to more than $1.5 billion.
The growth of the Web3 VC industry is showing no signs of slowing down.
Polygon founder Sandeep Nailwal is the latest to join the party after raising $50 million for a new startup fund. https://t.co/XqEuvk5PV3
— Cointelegraph (@Cointelegraph) August 25, 2022
The growth of the Web3 VC industry shows no signs of slowing down.
Polygon founder Sandeep Nailwal is the latest to join the party after raising $50 million for a new startup fund.
thirdweb raises $24 million from major venture capitalists
web3 developer platform thirdweb has achieved a lofty $160 million valuation following its series A funding round, which has brought him 24 million dollars. The Series A funding was led by Haun Ventures and included several notable investors such as Coinbase Ventures, Shopify, Polygon, and Protocol Labs. Founded in 2021, thirdweb is developing the infrastructure layer for Web3 that could enable smoother application development via blockchain.
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