Compiled by: Luan Peng, RootData
According to incomplete statistics from RootData, during the period from November 18 to November 24, 2024, there were a total of 19 public financing events in the blockchain and cryptocurrency industry, with a cumulative financing amount of approximately $145.1 million.
From the distribution of sectors, the projects that received financing are mainly concentrated in the infrastructure and DeFi sectors. Popular projects include the Move ecosystem development platform Shinami, the DeFi project Exponent, the crypto fantasy sports platform Monkey Tilt, and the hybrid payment platform Rise Labs.
In addition, the stablecoin company Noble completed a $15 million Series A financing round, led by Paradigm. Noble's total financing has reached $18.3 million, and it has established partnerships with stablecoin issuers such as Circle, Ondo Finance, Hashnote Labs, and Monerium, currently managing assets exceeding $458 million.
_ (List of projects with financing greater than $5 million last week, data source: Rootdata)_
1. Infrastructure
According to Sifted, based on documents submitted to the UK Companies House this month, the crypto wallet Deblock, created by former Revolut and Ledger executives, has completed an additional £13.3 million (approximately $16.8 million) in seed round financing. Another document from October shows that Headline, Hoxton, 20VC, and Chalfen are the main investors in this round. Sifted previously reported that the startup quietly raised €12 million last year.
It was introduced that in August 2022, former Revolut cryptocurrency head Jean Meyer, payment head Aaron Beck, and former Ledger engineering head Mario Eguiliuz co-founded Deblock. Later that year, the startup poached Revolut's Chief Operating Officer for European Banking, Adriana Restrepo, to become its fourth founder.
Deblock CEO Jean Meyer declined to comment on this round of financing. According to its website, the Deblock application is currently only available in France, where it is regulated by electronic money institutions and digital asset service providers.
According to RootData, Deblock is an integrated non-custodial wallet with a current account, allowing users to deposit, withdraw, spend, and exchange euros or cryptocurrencies.
According to PRNewswire, the Move ecosystem development platform Shinami announced the completion of $5.645 million in seed round financing, led by Race Capital, with participation from 6th Man Ventures, Coinbase, Circle, and Mysten Labs, with additional investment from the Aptos Foundation (specific amount undisclosed).
According to RootData, Shinami is building an infrastructure developer platform for Sui, with products designed to help teams build applications faster with better user experience and lower costs, including node services, in-app wallets, and more.
Crypto AI startup OpenLayer has completed $5 million in seed round financing, with participation from a16z Crypto Startup Accelerator (CSX), Geometry, IOSG Ventures, Spartan Group, LongHash Ventures, and undisclosed angel investors from EigenLayer, AltLayer, Puffer Finance, and Sei Network.
The financing process began in June and ended in August. This round of financing used a Simple Agreement for Future Equity (SAFE) structure. OpenLayer plans to launch its own token in the future. Currently, OpenLayer has 7 employees in the U.S. and plans to hire two more engineers.
OpenLayer acts as an AI data layer, allowing users to contribute and verify data through a Chrome extension and earn points. According to its website, application developers can access this user data with user consent, thereby protecting privacy. Use cases include training AI models, user targeting, and enhancing functionalities.
Stablecoin company Noble completes $15 million Series A financing, led by Paradigm
According to Fortune, stablecoin company Noble has completed $15 million in Series A financing, led by Paradigm. Noble's total financing has reached $18.3 million, and it has established partnerships with stablecoin issuers such as Circle, Ondo Finance, Hashnote Labs, and Monerium, currently managing assets exceeding $458 million.
According to the RootData platform, Noble aims to bridge the gap between stablecoin issuers like Circle and application chain builders by developing a platform that provides higher liquidity. Noble acts as an intermediary, collaborating with stablecoin issuers to efficiently distribute their products across 50 different blockchains and providing developers with a seamless user interface to ensure their application chains are compatible with Noble. The company has already partnered with several stablecoin issuers, attracting over $458 million in assets.
According to Cointelegraph, Bitcoin L2 solution Bitfinity Network announced the completion of $12 million in financing, including $7 million from institutional investors such as Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, as well as $5 million raised from community over-the-counter (OTC) token sales.
The project will utilize Internet Computer Protocol (ICP) Chain Fusion technology to enable the operation of Bitcoin native assets within Ethereum-compatible ecosystems. The ecosystem plans to host decentralized applications, including Sonic, Chapswap, Lendfinity, and Omnity Bridge. Notably, the founder of the lending protocol Liquity, which has a billion-dollar TVL, is also involved in supporting the project.
According to RootData, Bitfinity (formerly known as InfinitySwap) is the next-generation EVM, serving as a second layer for Bitcoin and other assets, utilizing threshold signature schemes and built on IC.
2. DeFi
DeFi project Exponent completes $2.1 million financing, led by RockawayX
DeFi project Exponent has completed $2.1 million in financing, led by RockawayX, with participation from Solana Ventures, Cherry Ventures, Mechanism Capital, Robot Ventures, and angel investors Stepan Simkin, Marius C., David Lu, and MacBrennan. The funds will be used to build a fixed-rate market for DeFi on Solana.
It is reported that the time-locked tokens issued by Exponent can generate fixed returns or be used for yield trading. These tokens have expiration dates, allowing users to exchange variable DeFi yields for fixed returns within a set time span or expand their exposure to yield volatility.
DeFi liquidity solution Barter completes $3 million seed round financing, led by Maven 11
According to The Block, decentralized finance liquidity solution provider Barter announced the completion of $3 million in seed round financing, led by Web3 venture capital firm Maven 11, with participation from Lattice, Anagram, Heartcore, DCG, and Daedalus Angels.
Barter co-founder Nikita Ovchinnik stated that this round of financing will be used to expand the team, accelerate research and development, and continue developing its DeFi tool AppChain. It is reported that Barter currently has a daily trading volume of $20 million across multiple EVM-compatible blockchains. The project was established in 2023 and primarily provides on-chain trading matching and settlement services.
Staking protocol developer Alluvial completes $4.3 million strategic financing, led by Variant
According to official news, Alluvial, a software development company supporting Liquid Collective, has completed a new round of strategic financing totaling $4.3 million, led by Variant, with participation from Ethereal Ventures, Brevan Howard Digital, F-Prime Capital (the venture capital arm of Fidelity Investments' parent company FMR, LLC), Nascent, and others, bringing the total financing amount to $22.5 million.
The funds are aimed at promoting the development of specialized, open, and configurable solutions to accelerate adoption in the institutional staking market.
Alluvial is a software development company that provides a suite of enterprise-grade staking products and services, focusing on facilitating the mainstream adoption and participation in proof-of-stake blockchains. Liquid Collective is a staking standard designed to meet the needs of enterprises.
3. Gaming
Decentralized gamer network KGeN completes $10 million financing, led by Aptos Labs
The decentralized gamer network KGeN (Kratos Gamer Network) announced the completion of $10 million in ecosystem round financing, led by Aptos Labs, with participation from Polygon and Game7, bringing its total financing amount to $30 million.
It is reported that the Kratos gamer network primarily operates in India, Brazil, Nigeria, Southeast Asia, and the Middle East and North Africa.
Additionally, the Web3 asset data platform RootData shows that since 2022, Kratos Studios' mission has been to bring millions of micro-gaming communities from emerging markets into Web3 to create the most powerful POG (Player Proof) engine and Kratos Gaming Network (KGeN). The POG engine will enable gamers and game developers worldwide to interact seamlessly through the multi-chain gaming data network KGEN.
According to PR Newswire, the crypto fantasy sports platform Monkey Tilt announced the completion of $30 million in Series A financing, which concluded this summer, led by Pantera Capital, with participation from Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and Josh Hannah. This latest financing brings the total amount raised to over $50 million.
Monkey Tilt, launched in early 2024, aims to merge prediction games, sports, poker, and cryptocurrency into one platform. Monkey Tilt plans to launch a new gamified cryptocurrency trading product in the first quarter of next year.
ChainCatcher previously reported that the crypto fantasy sports platform Monkey Tilt announced the completion of $21 million in financing, with participation from PolyChain Capital, Hack VC, Poker Go, Accomplice, Paper Ventures, and Folius Ventures.
4. AI
The project Luluchain, dedicated to transforming social scenario data into quantifiable value virtual assets (Emotional World Assets), announced the completion of $5 million in institutional round financing at a $50 million valuation, led by DG Capital, with participation from Smo Capital, LD Block, Unionblock vc, and Blockin.venture.
Luluchain is a unique blockchain platform that integrates AI + Web2 social scenarios + Web3 decentralized finance, developed based on the Cosmos SDK.
5. Others
According to The Block, market-based news and entertainment platform Truemarkets raised over $4 million through a public NFT sale, raising $4.03 million by selling 15,071 NFTs, with a minting cost of 0.08 ETH (approximately $250) per NFT. Ethereum co-founder Vitalik Buterin purchased 400 of these NFTs, spending a total of 32 ETH (approximately $107,000).
Truemarkets allows users to bet on real-world events. Truemarkets has two types of NFTs: Oracle Patron NFT and Truth Seeker NFT. NFT holders are eligible to claim the upcoming TRUE tokens during the platform's token generation event.
According to official news, hybrid payment platform Rise Labs announced the completion of $6.3 million in Series A financing, bringing its total financing amount to $10 million. The investment was led by Draper Associates, with co-lead from Polymorphic Capital, and participation from DCG, JAM Fund, Ryze Labs, and Paradigm Shift Capital.
Rise is a hybrid payment infrastructure that integrates fiat currency, stablecoins, and cryptocurrencies. Currently, Rise has over 150 clients and more than 100,000 contractors. Its client base includes traditional businesses, Web3 companies, as well as DAOs, protocols, and platforms. Rise's comprehensive platform supports businesses in recruiting, hiring, and paying global contractors and employees in local currencies and stablecoins while ensuring compliance with international tax regulations and employment laws.
Phantom acquires Web3 firewall technology provider Blowfish
Crypto wallet Phantom has acquired Web3 firewall technology provider Blowfish, with the specific acquisition amount undisclosed. The Blowfish team will introduce new security features for Phantom, including intuitive transaction previews and real-time fraud insights.
According to official news, community co-creation AIGC game Gabby World announced the completion of $2 million in financing at a $20 million valuation, led by SevenX Ventures, OnePiece Labs, Everest Ventures Group, Huofeng Capital, Zonff Partners, and 13 other institutions, along with 8 angel investors including former partners from Republic and Hashed, and partners from Gam3Girl Ventures.
Gabby World is a community co-created AIGC Dungeons and Dragons game and is the first VC token to achieve meme-like ultra-low market cap issuance through a "fair release" token economy, aiming to explore a new paradigm of VC token issuance that counters "low circulation high FDV" and time-locked releases.
The GABBY token was quietly issued at a market cap of $10,000 on Solana's DEX at the end of October and has successfully validated the on-demand release and buyback destruction advocated by the "fair release" token economic model in the past few weeks.
According to official news, blockchain and tokenization infrastructure platform Paxos has announced that it has agreed to acquire the Finnish licensed electronic money institution Membrane Finance. The transaction is subject to regulatory approval, and upon completion, Paxos will obtain an electronic money institution (EMI) license in Finland and the EU.
Paxos' strategic officer Walter Hessert stated that this acquisition will help Paxos launch asset and tokenization solutions compliant with MiCA (Markets in Crypto-Assets) regulations in the EU market. Currently, Paxos has issued several regulated digital assets, including PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG).
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