Compiled by: Luan Peng, RootData
According to incomplete statistics from RootData, from June 24 to June 30, 2024, there were 24 public investment and financing events in the blockchain and encryption industry, with a total financing of approximately US$428.5 million.
From the perspective of track distribution, the projects that received financing are mainly distributed in the game, infrastructure and DeFi tracks. Popular projects include blockchain infrastructure company Covalent, GameFi full-chain layer Elfin Metaverse, decentralized cross-chain oracle AnchorZero, and Rollup deployment platform Conduit.
In addition, the decentralized proof network NovaNet announced the completion of a $3 million financing round, led by Finality Capital, with participation from multiple institutions including Arrington Capital and Avalanche Foundation. It is committed to building the world's first zero-knowledge proof incentive layer suitable for various scenarios.
1. Infrastructure
MegaETH developer MegaLabs completes $20 million financing, Dragonfly leads the investment
Blockchain MegaETH developer MegaLabs has completed a $20 million financing round led by Dragonfly, with participation from Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, as well as angel investors such as Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu and Jordan Fish (aka Cobie).
MegaETH is reportedly a real-time blockchain capable of transmitting transactions at a rate of 100,000 transactions per second and with a millisecond response speed.
In addition, MegaETH's public testnet will be launched this fall, and the mainnet is expected to be launched at the end of the year. (Source link)
Modular entertainment chain XProtocol completes $800,000 strategic round of financing, total fundraising reaches $5.2 million
XProtocol, a modular entertainment chain based on Base, announced the successful completion of a strategic round of financing of US$800,000, with a total fundraising amount of US$5.2 million. XProtocol investors include Cogitent Ventures, Zephyrus Capital, etc.
It is reported that XProtocol is a modular entertainment chain built on Base using Superchain technology. XProtocol also launched Xardian Nodes, and node operators will receive rewards by participating in the network consensus process. (Source link)
Bitcoin analysis startup Rebar completes $2.9 million seed round led by 6th Man Ventures
Bitcoin analysis startup Rebar announced the completion of a $2.9 million seed round of financing, led by 6th Man Ventures, with participation from ParaFi Capital, Arca, Moonrock Capital and UTXO Management. The new funds will be used to build the first Bitcoin-based MEV product. (Source link)
Verifiable oracle protocol Ora completes $20 million financing, with participation from Polychain and SevenX Ventures
According to Coindesk, the verifiable oracle protocol Ora has completed a $20 million financing round, with Polychain, SevenX Ventures, HF0 and Hashkey Capital participating.
According to RootData, a Web3 asset data platform, ORA is a verifiable oracle protocol that brings artificial intelligence and complex computing to the chain. ORA breaks the limitations of smart contracts with richer data sources and computing power, allowing developers to innovate freely. ORA has two main products: AI Oracle (OAO): brings AI to the chain; ZK Oracle: brings complex computing and historical data to the chain. (Source link)
Blockchain infrastructure company Covalent completes $5 million financing, led by RockTree Capital
Blockchain data infrastructure company Covalent has completed a $5 million financing round led by RockTree Capital, with other investors including CMCC Global, Moonrock Capital and Double Peak Group.
Covalent, which develops infrastructure that lets users access historical blockchain data in the “Ethereum Wayback Machine,” similar to the web2 version of how online web pages are stored, said it will use the funding to expand into Asia and support adoption of long-term data availability in countries such as China and Singapore.
It is reported that Covalent has raised more than $20 million through token sales. (Source link)
Decentralized proof-of-stake network NovaNet completes $3 million in funding, led by Finality Capital
The decentralized proof network NovaNet announced the completion of a $3 million financing round, led by Finality Capital, with participation from multiple institutions including Arrington Capital and Avalanche Foundation. It is committed to building the world's first zero-knowledge proof incentive layer suitable for various scenarios.
NovaNet provides local verifiable computing and privacy-preserving applications, supporting a wide range of applications from AI, decentralized Internet of Things (DePIN) to games. (Source link)
Rollup deployment platform Conduit completes $37 million Series A financing, Paradigm and Haun Ventures jointly lead the investment
Rollup deployment platform Conduit announced the completion of a US$37 million Series A financing round, led by Paradigm and Haun Ventures, with participation from Bankless Ventures, Coinbase Ventures and others. It is reported that since its launch, Conduit has helped teams such as Degen and Proof of Play build their first L3.
According to RootData, a Web3 encrypted asset data platform, Conduit completed a $7 million seed round of financing in March last year, led by Paradigm. (Source link)
Decentralized AI network Allora Labs completes $3 million in strategic financing, with Archetype and others participating
According to The Block, decentralized artificial intelligence network Allora Labs has completed a $3 million strategic financing, with participation from Archetype, Delphi Ventures, CMS Holdings, ID Theory and DCF God. This round of financing brings Allora's total financing to $35 million.
It is reported that Allora Network is a decentralized artificial intelligence network and an L1 blockchain built on the Cosmos stack. Its predecessor was Upshot, which was renamed Allora in February this year and turned from an NFT evaluation platform to a decentralized artificial intelligence network. (Source link)
2. Games
Manta Foundation announces investment in GameFi's full-chain Elfin Metaverse
Manta Foundation announced on the X platform that it has invested in GameFi’s full-chain layer Elfin Metaverse, which is the successful applicant for the $50 million Manta Ecosystem Fund.
According to Web3 asset data platform RootData, Elfin Metaverse is a full-chain layer of GameFi focused on e-sports, with an integrated e-sports gaming platform and open-world metaverse built on Elfin Lands, a virtual realm that offers unique gaming experiences and a thriving community. (Source link)
GolfN, a blockchain golf game project, completes $1.3 million in Pre-Seed funding, with participation from CitizenX and others
GolfN, a golf blockchain game project based in the Solana ecosystem, announced the completion of a $1.3 million Pre-Seed round of financing, with participation from CitizenX, Fourth Revolution Capital, Nom, and Joe McCann of Asymmetric Financial.
GolfN aims to introduce the Play-to-Earn mechanism into golf and plans to develop a digital caddy application. (Source link)
Cloud gaming PC lending project Shaga completes $1 million angel round of financing, led by Arca
Cloud gaming PC lending project Shaga announced on X platform that it has completed a $1 million angel round of financing, led by arca, with participation from Skybridge20VC, AuroryProject, Quotientvc, MARINDIGITALVEN, amirhaleem, stephenakridge, pavelbains, harkl_, spacemandev, PashiPas, gaoyuan121 and other angel investors.
It is understood that Shaga (PC lending) is trying to solve the problems of cloud gaming. Historically, cloud gaming has mostly performed poorly due to expensive services and latency issues in accessing servers. Shaga better alleviates these cost and latency issues by trustlessly lending personal computers at the local level. (Source link)
3. DeFi
ENSO Completes $4.2 Million Funding, Led by Ideo Ventures and Hypersphere
According to Coindesk, the chain abstract intent engine ENSO announced the completion of $4.2 million in financing. This round of financing was led by Ideo Ventures and Hypersphere, with more than 60 angel investors participating.
The funds raised will be used to launch the Cosmos-based L1 blockchain this year and for continued product development. According to its official Twitter, ENSO is an intent engine powered by an intent-centric future, supported by @Polychain and @multicoincap. (Source link)
Binance Labs invests in Berachain ecosystem liquidity staking protocol Infrared
Berachain ecosystem liquidity staking protocol Infrared Finance has raised an undisclosed amount of funding from Binance Labs.
It is reported that this investment is a private token round. Infrared co-founder and CEO Raito Bear declined to comment on the total amount of financing and valuation to date. (Source link)
tool
Decentralized cross-chain oracle AnchorZero completes $8 million seed round of financing, led by Bain Capital and Spark Capital
According to official news, AnchorZero, a developer of a decentralized oracle network, announced the completion of an $8 million seed round of financing, led by Bain Capital Crypto and Spark Capital, with participation from Ethereal Ventures, Robot Ventures, Mischief Fund, Pascal Capital, and Sarah Meyohas. The specific valuation information has not yet been disclosed.
It is reported that AnchorZero is a blockchain technology company that specializes in developing decentralized cross-chain oracle networks, providing secure and reliable price feed data services for smart contracts, allowing access to external data of smart contracts on multiple platforms. In addition, they also provide Web3 tax planning solutions. (Source link)
other
Binance Labs invests in Berachain ecosystem liquidity staking protocol Infrared
Berachain ecosystem liquidity staking protocol Infrared Finance has raised an undisclosed amount of funding from Binance Labs.
It is reported that this investment is a private token round. Infrared co-founder and CEO Raito Bear declined to comment on the total amount of financing and valuation to date. (Source link)
Digital asset trading company Crossover Markets completes $12 million Series A financing, led by Illuminate Financial and others
According to CoinDesk, digital asset trading company Crossover Markets has completed a $12 million Series A financing round led by Illuminate Financial and DRW Venture Capital, with participation from Flow Traders, Laser Digital, Two Sigma, Wintermute and others.
Crossover Markets formed a partnership with prime broker Hidden Road last month, which, according to CEO Brandon Mulvihill, is one of the only ultra-low latency electronic communications networks (ECNs) in the cryptocurrency space. (Source link)
Blast Liquidity Marketplace Fenix Finance Completes $300,000 Seed Round, Led by Orbs
According to official news, Fenix Finance, the Blast liquidity market, has completed a $300,000 seed round of financing, led by Orbs. It is reported that this seed money will be used to build Fenix's unified trading and liquidity market on the Blast network.
Orbs' investment will strengthen its existing support for Fenix as a technology partner. Fenix has confirmed that it will immediately deploy the Fenix Liquidity Hub powered by Orbs L3. This will allow Blast users to execute token swaps at the best price by combining on-chain and off-chain liquidity. (Source link)
Pudgy Penguins parent company acquires Web3 creator platform Frame to build new Layer 2
According to official news, Igloo Inc., the parent company of the NFT project Pudgy Penguins, has acquired the on-chain creator economy platform Frame. The terms of the transaction have not been disclosed, and the Frame team will now join Igloo. The purpose of this acquisition is to develop a Layer 2 network Abstract Chain designed specifically for on-chain culture and community. The platform aims to usher in a new era driven by cultural economy, create distribution tracks, empower builders, and introduce innovative economic mechanisms on the chain. (Source link)
Cleanspark to acquire Bitcoin miner GRIID for $155 million
According to Bitcoin News, mining company Cleanspark will acquire Bitcoin miner GRIID for $155 million and plans to expand more than 400 megawatts in Tennessee. According to the merger agreement, CleanSpark will purchase all GRIID common shares through an all-stock transaction, and GRIID shareholders will receive CleanSpark shares. (Source link)