July 24, 2024

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Web3 dominance within crypto funding rounds has been properly documented by Cointelegraph Research. In addition to the Web3 mega funds announced recently, venture capital has also been making smaller, more targeted investments in the sector. In this week’s venture capital (VC) Roundup, we chronicle the latest Web3 funding initiatives and draw attention to a sharding platform, nonfungible token (NFT) market, crypto banking answer and co-ownership infrastructure supplier. 

Related: Blockchain games and metaverse projects raised $1.3B in Q3: DappRadar

Gamers, athletes and content material creators again WWVentures

WWVentures, a boutique crypto enterprise agency, has raised $15 million for its Web3 fund — placing the corporate on observe to put money into the metaverse, decentralized finance (DeFi) and blockchain gaming startups. The funding spherical was backed by a slew of notable avid gamers, content material creators and athletes, together with former UFC Champion Michael Bisping and Trent Alexander Arnold of Liverpool F.C. The fund will focus solely on startups with a “community-first approach” to growth and can assist its development via social capital and community-building assist.

Scalability-focused blockchain raises $18.2M

Ethereum Virtual Machine-based blockchain Shardeum has acquired $18.2 million in seed funding from over 50 buyers, together with enterprise companies Jane Street, The Spartan Group and DFG. Shardeum is a proof-of-stake community targeted on fixing one among blockchain’s largest ache factors: scalability. As the identify implies, the platform makes use of sharding — a kind of database partitioning — to extend throughput capability. Shardeum claims that its scaling capability is superior to different layer-1 blockchains.

Avalanche-native platform raises $6M for NFT market

Myna Swap, a luxurious collectible market that permits customers to transform their bodily belongings into digital twins through NFTs, has raised $6 million in seed funding. Investors embody Polygon Studios, Blizzard Avalanche Fund, Spartan Capital and Wave Financial. The platform, which affords trading and vaulting providers, is geared towards collectors of sneakers, sports activities playing cards and watches and was constructed on the Avalanche blockchain. Myna Swap is ready for launch later this yr.

Alexis Ohanian backs Antic in $7M increase

Web3 co-ownership infrastructure supplier Antic has raised $7 million in funding led by Sheva and Alexis Ohanian’s Seven Seven Six enterprise studio, with further participation from Pantera Capital, Sound Ventures and Dapper Labs. Antic described co-ownership expertise as an rising idea throughout the Web3 neighborhood that permits corporations to determine blockchain-based possession fashions extra simply.

Crypto banking platform closes $18M Series A

Web3 banking platform Juno has raised $18 million in Series A funding led by ParaFi Capital, with further participation from Hashed, Jump Crypto and others. Juno gives a crypto-native checking account that permits customers to financial institution with their digital belongings extra simply. Following the funding spherical, Juno is planning to develop its product choices and launch a tokenized loyalty program that permits customers to earn cash for taking their paycheck in crypto or spending digital belongings with their Juno card.

Related: FTX and Visa partner to permit crypto payments in 40 countries

Wintermute Labs leads Zerion funding spherical

Web3 wallet and DeFi aggregator Zerion has closed a $12.3 million Series B funding spherical led by Wintermute Labs, the enterprise arm of liquidity supplier Wintermute. Zerion will use the funding to additional develop its Web3 wallet by integrating superior information and enabling higher cross-chain id administration for Ethereum-compatible blockchains. Zerion claims that its trading quantity has grown from $47 million in 2019 to greater than $1.5 billion.

thirdweb lands $24M from main VC buyers

Web3 developer platform thirdweb achieved a lofty valuation of $160 million following its Series A funding spherical that landed the corporate $24 million. The Series A funding was led by Haun Ventures and included a number of notable buyers similar to Coinbase Ventures, Shopify, Polygon and Protocol Labs. Founded in 2021, thirdweb is growing the infrastructure layer for Web3 that would allow extra seamless software growth throughout blockchains.



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