Research Summary
- During the week of 30 Jul – 05 Aug 2023, seven blockchain startups raised a total of $27.9M in funding. The investments were distributed across unknown rounds, seed rounds, and pre-seed rounds.
- Mahjong Meta, a Web3 gaming platform on Ethereum, raised the week’s largest funding of $12M from various investors. The platform offers a unique Mahjong gaming experience and aims to build a community with live matches and educational resources.
- zkPass secured $2.5M in a Seed funding round for its privacy-preserving decentralized identity verification solution for Web3. It utilizes advanced technologies to validate private data without disclosure.
- Conductive.ai, a disruptive platform in the gaming industry, raised an undisclosed amount in a Seed funding round. It provides software to incentivize player engagement and increase game revenue through stablecoins and digital collectibles.
- Terminal 3, a Hong Kong-based Web3 startup, raised an undisclosed amount in a Pre-seed funding round. It focuses on decentralized data storage, offering an alternative to centralized systems that compromise privacy.
- Orbital, a traditional finance and crypto payments platform, raised $6.4M. It acts as a bridge between traditional finance and digital asset treasury solutions, offering tools like multi-currency accounts and digital asset custody.
- Solv Protocol secured $6M in funding for its decentralized platform bridging liquidity across DeFi, CeFi, and TradFi. It offers diverse asset classes and yield opportunities in a secure manner.
- Conic Finance raised $1M for its platform built for liquidity providers to diversify their exposure to multiple Curve pools. It allows users to provide liquidity into a Conic Omnipool, allocating funds across Curve.
Actionable Insights
- Investment Opportunity: The week witnessed a variety of investment rounds in blockchain startups, indicating a robust interest in the sector. Investors may explore opportunities in Web3 platforms, decentralized identity solutions, and crypto payment solutions.
- Growth in Gaming Industry: The funding in Mahjong Meta and Conductive.ai highlights the growing interest in integrating blockchain and crypto in the gaming industry. This trend may open new avenues for innovation and revenue generation in gaming.
- Focus on Privacy and Security: Investments in zkPass and Terminal 3 emphasize the importance of privacy and security in decentralized systems. Solutions that ensure data privacy and security may continue to attract funding and partnerships.
- DeFi and Liquidity Solutions: The funding in Solv Protocol and Conic Finance reflects the ongoing interest in decentralized finance and liquidity solutions. Platforms that offer diverse asset classes and yield opportunities may find increased investor interest.
