Highlights of this issue
According to incomplete statistics from LianGuaiNews, there were 22 blockchain investment and financing events worldwide last week (September 4-September 10), with a total funding scale exceeding $150 million, a significant increase compared to the previous week. The overview is as follows:
- DeFi announced 5 investment and financing events, among which the decentralized exchange Brine Fi raised $16.5 million in a round of financing led by LianGuaintera Capital, with a valuation of $100 million;
- NFT and Metaverse announced 3 investment and financing events, among which the Web3 platform Medallion raised $21.5 million in funding;
- Blockchain games announced 3 investment and financing events, among which the Web3 gaming information platform Polkastarter Gaming changed its name to GAM3S.GG and completed a $2 million seed round financing led by Mechanism Capital;
- Infrastructure and tools announced 6 financing events, among which the interoperability protocol Socket completed a $5 million financing round led by Coinbase Ventures and Framework Ventures;
- Other Web3/crypto-related projects announced 4 financing events, among which the blockchain invoice settlement platform Zeebu raised $25 million in a pre-sale round of financing, with participation from strategic investors such as Bankai Ventures;
- Centralized finance announced 1 financing event: Swiss fintech platform GenTwo raised $15 million in a Series A financing round led by hedge fund celebrity Steve Cohen’s Point72 Ventures.
Cross-chain DEX Brine Fi completes $16.5 million financing at a valuation of $100 million, led by LianGuaintera Capital
- LD Capital The Future Road and Star Projects of LayerZero Cross-Chain Innovation
- LianGuai Daily | The US SEC has submitted a reply memorandum regarding the Ripple case; FTX is investigating whether it can recover the promotional fees paid to sports stars such as O’Neal.
- Interpreting the Impact and Response Strategies of the CFTC’s Three Enforcement Actions on the DeFi Industry
Decentralized exchange (DEX) Brine Fi has raised $16.5 million in a round of financing led by LianGuaintera Capital, with a valuation of $100 million. Elevation Capital, StarkWare Ltd, SLianGuairtan Group, Goodwater Capital, UpsLianGuairks Ventures, and Protofund Ventures also participated in this round of financing. Brine Fi is supported by the Ethereum scaling system StarkWare and is a non-custodial, decentralized order book that achieves privacy of transaction positions through so-called zero-knowledge proofs.
Crypto lending platform Trident Digital Group completes $8 million seed round financing
Crypto lending platform Trident Digital Group, founded by former Coinbase executives, has completed an $8 million seed round financing. It was led by White Star Capital and New Form, with participation from CMT Digital, Joint Effects, and Permit Ventures. Trident will launch a yield product that links returns to risk-free interest rates while ensuring that national debt physically backs any deposits.
Trident CEO DeMartino previously worked at UBS, Barclays, and HSBC. In 2021, he joined Coinbase as Head of Risk Strategy, focusing on DeFi and derivative trading. He then served as CEO of Matrixport’s US business for a year before resigning in July. Trident Chief Business Officer Toby Norfolk-Thompson previously served as Chief Investment Officer for Coinbase Risk Strategy and as Chief Investment Officer for the US and UK at Matrixport.
LeverFi announces $5 million strategic financing from Unicorn Web3
Decentralized, permissionless leveraged trading platform LeverFi has announced a $5 million strategic financing from Unicorn Web3. With this funding, LeverFi will expand its deep collaboration with Unicorn-Verse, and the investment will be used to upgrade LeverFi and help the LeverFi ecosystem to grow.
Decentralized insurance distributor OpenCover completes $4 million seed round financing, led by NFX and Jump Crypto
Insurance alternative and aggregator OpenCover has completed a $4 million seed round financing, led by NFX and Jump Crypto. OpenCover received over $200 million in underwriting capacity from DeFi insurance provider Nexus Mutual, and can now directly use these funds on Layer 2. Nexus allows investors to collectively manage the capital pool and offers insurance similar to a fully delegated mutual fund in the UK. Decentralized insurance distributor OpenCover, focused on cryptocurrency and Web3 platforms, has already launched on Base and has also received $200,000 in ecosystem funding from Coinbase.
RWA credit protocol Helix completes $2 million Pre-Seed round financing and plans to launch in Q4
RWA protocol Helix has completed a $2 million Pre-Seed round financing, with undisclosed valuation. The round was led by Saison Capital and Superscrypt, with participation from Emurgo Ventures, Comma3 Ventures, Outlier Ventures, Emoote, and others. The Helix protocol is scheduled to launch on Ethereum in Q4 of this year, with possible expansion to other chains. The new funds will be used to prepare for the launch and hire more business development and engineering personnel.
NFT & Metaverse
Web3 music platform Medallion raises $21.5 million in funding
Web3 platform Medallion, which enables music artists to connect with fans, has raised $21.5 million in funding. Documents show that the total offering amount for this round is $24.2 million, with 51 investors participating so far. Medallion was founded in 2020 by Stephen Vallimarescu, Matt Jones, and Derek Davies, and has raised a total of $30.5 million in equity financing with its previous $9 million seed round.
NFT art platform TRLab completes $5 million seed round financing, led by Hivemind Capital and OKX Ventures
NFT art platform TRLab has announced the completion of a $5 million seed round financing, led by Hivemind Capital LianGuairtners and OKX Ventures, with participation from HashKey Capital, the investment arm of HashKey Group. Hivemind and OKX Ventures will provide strategic support for TRLab in the US and Asian markets, respectively. This round of funding will be used to collaborate with more artists, foundations, and cultural institutions, expand the company’s market share internationally, and integrate new technologies to enhance the digital art collecting experience. Over the next six months, TRLab will launch several digital art experiences in collaboration with renowned artists and foundation institutions, and will hold its first offline art exhibition in November this year.
Metaverse Development Company Crucible Completes New Round of Financing with Born Ready as Lead Investor
Metaverse development company Crucible announced the completion of a new round of financing, with AI metaverse company Futureverse’s Web3 technology fund Born Ready as the lead investor, but the specific amount has not been disclosed. In addition, Crucible also announced a partnership with Futureverse.
Web3 Game Information Platform GAM3S.GG Completes $2 Million Seed Round of Financing
Web3 game information platform Polkastarter Gaming announced its official name change to GAM3S.GG and completed a $2 million seed round of financing, led by Mechanism Capital, with participation from Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, and Emurgo Ventures. GAM3S.GG is responsible for planning and creating content, focusing on top games, and showcasing reviews, guides, news, tasks, annual awards, etc., aiming to become a one-stop shop for Web3 games.
Blockchain Game BulletChain Completes $2 Million Private Placement Financing, Beta Testing to Start on September 11
Blockchain game BulletChain announced the completion of a $2 million private placement financing, with the specific investors undisclosed. The new funds will be used to expand operations. In addition, BulletChain will launch beta testing from September 11 to 18, and players can apply for the closed beta through an application form.
Blockchain game project BlockGames Completes Series A Financing and is Selected for Google Cloud Web3 Startup Program
Blockchain game project BlockGames has been selected for the Google Cloud Web3 Startup Program and completed its Series A financing, with the specific investors and financing amount undisclosed. After joining the Google Web3 Startup Program, BlockGames will automatically gain access to Google Cloud Scale Tier products and can use Google Cloud Web3 services, including extensive Google Cloud and Firebase usage credits and enhanced Google Cloud support.
Infrastructure & Tools
Interoperability Protocol Socket Completes $5 Million Financing, Led by Coinbase Ventures and Framework Ventures
Interoperability protocol Socket has completed a $5 million financing round, with Coinbase Ventures and Framework Ventures as the lead investors. The new funds will be used to expand Socket’s collaboration with Coinbase, including providing bridging services for Coinbase Wallet and Base developers and users. It is reported that Socket has facilitated over 2.5 million cross-chain transactions with a trading volume exceeding $3.5 billion since its launch.
Web3 Domain Startup D3 Global Completes $5 Million Seed Round of Financing, Led by Shima Capital
Web3 domain startup D3 Global has completed a $5 million seed round of financing, led by Shima Capital, with participation from Arthur Hayes’ Maelstrom, Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, and Identity Digital founder LianGuaiul Stahura. D3 Global is a startup dedicated to integrating the utility of Web3 with existing internet infrastructure, bringing more interoperability to both Web2 and Web3 versions of the internet while creating more utility and security. D3 also plans to apply for and acquire new top-level domains during the upcoming ICANN application window to provide secure identities supported by all browsers and devices.
Web3 domain and TLD provider Freename completes $2.5 million seed round funding
Web3 domain and TLD provider Freename announced the completion of a $2.5 million seed round funding. SLianGuairkle Ventures led the investment, with participation from Blockchain Founders Fund, Golden Record Ventures, Abalone Asset Management, and His Highness Sheikh Mayed Al Qasimi. Freename allows users to create their own top-level domains (TLDs) and second-level domains (SLDs) on multiple blockchains. These Web3 domains represent a digital identity and can be used for various functions such as sending and receiving encrypted payments, sending Web2 and Web3 emails, browsing traditional websites, and building decentralized websites. TLD owners can become true registrars through Freename, and new users registering domains on their TLDs can generate ongoing revenue.
Cryptocurrency payment startup Kotani raises $2 million in pre-seed funding
Cryptocurrency payment startup Kotani has raised $2 million in pre-seed funding, led by P1 Ventures with participation from DCG/Luno, Flori Ventures, and others. The company plans to further expand its operations to Rwanda, Senegal, Ivory Coast, Tanzania, and Nigeria. Based in Nairobi, Kotani provides B2B solutions by connecting blockchain with local payment networks through a middleware it has built, aiming to help users in Africa who have difficulty accessing banking services to conveniently conduct cross-border remittances.
Nestcoin, the developer of the cryptocurrency wallet Onboard, raises $1.9 million in funding, led by Hashed Emergent
Nigeria-based Web3 startup Nestcoin has announced a successful strategic funding round of $1.9 million, led by Hashed Emergent. Adaverse, Base Ecosystem Fund, Alter World, CMT Digital, Magic Fund, 4DX Ventures, and a group of angel investors also participated. The new funds will be used to build the non-custodial cryptocurrency wallet Onboard Wallet and expand its newly established cryptocurrency training platform Breach and the cryptocurrency gaming association Metaverse Magna (MVM). Nestcoin had previously suffered losses due to storing investment funds on FTX, but has gradually recovered.
Algorand Foundation and DWF Labs jointly invest in Algorand ecosystem wallet Pera
The Algorand Foundation announced on the X platform that it has joined forces with Borderless, Arrington Capital, and DWF Labs to invest in the Algorand ecosystem’s open-source self-custody wallet Pera, accelerating the development of the ecosystem. The specific amount of the investment was not disclosed. Pera is an open-source self-custody wallet on the Algorand blockchain, and it is expected to have over one million app downloads by 2023.
On-chain intellectual property protocol Story Protocol raises $25 million in Series A funding, led by a16z crypto
On-chain intellectual property protocol Story Protocol announced the completion of a $25 million Series A funding round, led by a16z crypto. With this funding round (including the seed round in May this year), Story Protocol has raised a total of over $54 million. The participating investors in the two funding rounds as officially disclosed include Hashed, Endeavor, Samsung Next, dao5, Insignia Venture LianGuairtners, Alliance DAO, and Foresight Ventures.
Blockchain Invoice Settlement Platform Zeebu Completes $25 Million Pre-Sale Funding Round
Zeebu, a blockchain invoice settlement platform, has raised $25 million in its pre-sale funding round, with participation from strategic investors such as Bankai Ventures. Zeebu utilizes blockchain technology to provide loyalty rewards, streamline invoice settlement, and improve transparency for telecommunications operators. Zeebu has established strategic partnerships with telecom providers such as Hayo Telecom Inc., Axistel FZE, Qatama Ltd, BBT Voice Limited, Broadband Telecom Inc., BridgeVoice Inc., and Novatel doo, with the goal of collaborating with over 100 similar telecom operators to facilitate cross-border settlement processes.
Pop Social Raises $4 Million in Funding with Participation from Chainlink
Pop Social, a Web3 AI social infrastructure platform, has announced the completion of a $4 million seed and strategic funding round. Participants in the funding round include Fundamental Labs, Ceras Ventures, Chainlink, Cointelegraph, Fusion Labs, Promatrix Capital, as well as angel investors from the former executive teams of Binance and OKX. The Pop Social application is now available for download from the Apple App Store or Google Play Store.
Japanese Crypto Venture Skyland Ventures Participates in New Funding Round for Social Content Platform ReadON
Japanese crypto venture Skvland Ventures has announced its participation in a new funding round for web3 social content aggregation mobile application ReadON DAO. The specific amount of funding has not been disclosed. ReadON is a “read-to-earn” social content platform that aggregates artificial intelligence, venture capital, and web3 news from around the world into a mobile application for smartphone users. The content platform combines token economics based on blockchain technology and AI-based content matching services to incentivize web2 content consumption. Application users can earn READ tokens by reading/viewing content, and they also issue Catto NFTs to enhance the reward efficiency of READ tokens.
Swiss FinTech Platform GenTwo Raises $15 Million in Funding with Point72 Ventures as Lead Investor
GenTwo, a Swiss FinTech platform specializing in securitization, has raised $15 million in a Series A funding round led by hedge fund titan Steve Cohen’s Point72 Ventures. The Zurich-based company plans to use the funding for international expansion and the development of its financial engineering platform. Its PRO platform allows investors to securitize any asset or investment strategy in a bankable form and bring it to the market. It enables all investors to access non-bank assets, including real estate, art, or digital assets.
Venture Capital Firms
Connect Ventures Completes $80 Million Fundraising for its Fourth Fund, Intends to Continue Investing in Web3 and FinTech
European tech venture capital firm Connect Ventures has announced the completion of its fourth fund, raising $80 million. British LianGuaitient Capital, De Agostini, Big Society Capital, Top Tier, and Molten Ventures have all provided support for this fund. The new fund will drive Connect Ventures to continue pre-seed and seed round investments in areas such as B2B SaaS, FinTech, consumer, and Web3. The firm’s current Web3 investment portfolio includes Web3 task platform Zealy, Web3 social platform OP3N, crypto payment startup Cheq, and banking-as-a-service platform Fiat Republic, among others.