Cointelegraph Chinese & CGV Research Vane | Weekly Report on Global Encryption Market Investment and Financing Trends (2022.7.11-7.17)
With the crisis of market liquidity, NFT turnover in June fell by 74% month-on-month, the largest drop ever. Judging from the primary market investment and financing data (a total of 10 projects) collected this week, the primary investment and financing of web3 infrastructure (3), Metaverse (3), and DeFi (2) projects have begun to pick up. The attitude of GameFi (1) and NFT (1) projects is still relatively cautious. CGV and CTC have summarized the investment and financing information worth noting in the global encryption market for a week. The following is the investment and financing information of the global encryption market from July 11 to July 17, 2022:
1. Quadrata | $7.5 million in seed round financing｜Dragonfly Capital led the investment
On July 12, Quadrata, the Web3 identity network, completed a $7.5 million seed round of financing led by Dragonfly Capital. Franklin Templeton, Abra, GSR Ventures, Orange DAO, Fellows Fund, GreatPoint Ventures, August Capital and others participated in the investment.
Quadrata will provide users with decentralized identities (DIDs) and provide compliance infrastructure for decentralized applications.
2. Farcaster | Financing $30 million｜a16z leads the investment
On July 13, Farcaster, a decentralized social protocol, completed a $30 million financing round led by a16z, Standard Crypto, Elad Gil, 1confirmation, Scalar Capital, First Round Capital, Volt Capital, A Capital, Todd and Rahul's Angel Fund, Coinbase Ventures, Mischief, Ansa Capital, Haystack, Ribbit Capital, Chapter One, Multicoin Capital, Offline Ventures, Archetype, Canonical Crypto, Proof Group, Floodgate, Balaji Srinivsasan, 6529, Ray Tonsing and others participated in the investment. Farcaster has released an initial version of the protocol and client, and is working on Farcaster v2, scheduled to launch later this year.
3.Modular Capital | Financing $20 million｜Multicoin Capital and others participated in the investment
On July 18, Modular Capital, a cryptocurrency hedge fund, completed a $20 million financing, with participation from Multicoin Capital, ParaFi Capital, Road Capital, and LedgerPrime.
Modular Capital, co-founded by James Ho and Vincent Jow, mainly invests in liquidity tokens, DeFi, etc. Additionally, the fund will seek to invest in primitives that allow applications to build rich experiences for users, such as layer-1 and layer-2 blockchains or various Web3 infrastructure tools.
4. Contango | Financing $4 million | Coinbase Ventures and others participated in the investment
On July 14, Contango, an expiring futures agreement, announced the completion of $4 million in financing, led by ParaFi, with participation from incubators dlab and Advanced Blockchain AG, as well as Coinbase Ventures, Spartan Group, AngelDAO, Cumberland, GSR Markets, and Amber Group.
Contango is building an open-source DEX that offers expiry futures with no order books or liquidity pools. When a trader opens a position on Contango, the agreement borrows on the fixed-rate market, exchanges it on the spot market, and then lends it on the fixed-rate market, with the agreement offering physical delivery at maturity.
Contango, a unique decentralized exchange (“DEX”) offering expirable futures (ie instruments with a known settlement date),
5.Empiric Network | Financing $7 million | Jane Street and others participated in the investment
On July 16, Empiric Network, a decentralized blockchain oracle based on StarkNet, announced the completion of $7 million in financing. This round of financing was led by Variant, with participation from Alameda, CMT, Flow Traders, Gemini, Jane Street, StarkWare, etc. Angel investors include Polygon co-founder Sandeep Nailwal and others. This round of financing will be mainly used to recruit and expand the development team.
Empiric Network, a new decentralized blockchain oracle on StarkNet,
6. CLUB | $3.1 million in seed round financing | Zee Prime Capital led the investment
On July 16, Web3 game studio CLUB announced the completion of a $3.1 million seed round of financing, led by Zee Prime Capital, with participation from ATKA, Merit Circle, CitizenX, Moonlanding Ventures, and Petrol Capital.
CLUB is developing a P2E football game "CLUB Game", which aims to introduce Web3 digital ownership to enhance the game experience and allow players to realize the value they create.
7.Hang | A round of financing 16 million US dollars | Paradigm lead investment
On July 14, Hang, an NFT membership platform, announced the completion of a US$16 million Series A round of financing, led by Paradigm and participated by Tiger Global, 35 Ventures, and Night Ventures.
Hang's membership program will use NFT to motivate users in the form of rewards and perks, and the platform has currently partnered with brands such as Budweiser and Pinkberry.
8.Hologram | $6.5 million in seed round financing | Polychain Capital led the investment
On July 15, Hologram, an on-chain avatar development platform, announced the completion of a $6.5 million seed round of financing, led by Polychain Capital, with participation from Nascent, Inflection, The Operating Group, Quantstamp, and Neon DAO.
Hologram helps users use NFT images or characters as avatars in social media app calls, connect with others on any video or gaming platform (such as Zoom, Twitch, VR chat, etc.), and generate their own digital characters with one click.
9. Arkive | Financing $9.7 million | Coinbase Ventures and others participated in the investment
On July 16, Arkive, a decentralized physical museum, completed a financing of US$9.7 million. This round of financing was led by Offline and TCG Crypto, with participation from NFX, Freestyle Capital, Coinbase Ventures, Not Boring Capital, Precursor, Chainforest, etc. Angel investors Including Pantera Capital partner Paul Veradittakit and others.
Arkive's collections are curated by its members. Members communicate through Discord and use their Ethereum wallets to vote on purchases, display collections, and then mint corresponding collection NFTs. Historical provenance, authentication, quality, and condition are all recorded in the district. On the block chain, anyone can verify on-site in museums and galleries.
10. Jakaverse | pre-A round of financing 3 million US dollars | Titan Capital Group led the investment
On July 18, Jakaverse, the Thai metaverse platform, announced the completion of a US$3 million pre-A round of financing. Titan Capital Group Holdings led the investment and purchased 100 Jakaverse metaverse virtual plots.
Jakaverse stated that they plan to use this financing to accelerate the construction of a virtual world platform, while promoting game product development and other innovations, and continue to conduct subsequent A, B, and C rounds of financing.
About CGV FOF: CGV FOF is a fund of funds from Asia, focusing on investing in Crypto Fund and Crypto Studio. CGV FOF is composed of family funds from Japan, South Korea, mainland China and Taiwan, headquartered in Japan, and also has branches in Singapore and Canada. CGV FOF includes MetaEstate, EstateTrader, Everland and other brands and companies.