Since April, the wealth effect of various sectors of the crypto market has also begun to weaken, and the market has been slightly deserted, but there are still new hot spots in the crypto market, and capital is still entering the market. From the investment and financing situation in April, it can be seen that GameFi and NFT infrastructure, and DeFi applications of the public chain ecology are still hot spots. GameFi has the most financing events, especially sports competitive games, P2E games and guilds are the choices that capital is keen on.
Regarding the investment and financing of the NFT sector, more focus on NFT infrastructure, such as NFT lending, NFT casting platforms, and NFT trading facilities. There is not much investment and financing on NFT projects. Financing in the DeFi sector is more focused on new applications, especially unsecured lending applications and cross-chain infrastructure in the lending track.
This issue of DeFi Honeycomb will sort out the investment and financing of GameFi, NFT infrastructure, and DeFi applications in the public chain.
- Unsecured Lending Agreement Masa Finance
On May 4, Masa Finance, a decentralized lending protocol, completed a $3.5 million seed round of financing. Masa Finance will be built on the Celo and Ethereum public chains. The platform has two lending products: NFT mortgage lending and unsecured lending. NFT mortgage lending supports NFT assets as collateral for loans, and unsecured lending will be provided according to the user’s DeFi credit score. Unsecured loan.
- Fixed Rate Lending Agreement MYSO Finance
On April 29, the lending protocol MYSO Finance completed a $2.4 million seed round of financing, with participation from Huobi, Nexo, HashKey, etc. MYSO Finance aims to build a liquidation-free, fixed-rate lending platform.
- Mortgage Lending Platform Oasis.app
On April 15, the DeFi lending platform Oasis.app completed a $6 million Series A financing, led by Libertus Capital, with participation from Road Capital and 1inch co-founder Sergej Kunz. Oasis.app is a decentralized lending platform embedded on MakerDAO, where users can mortgage ETH, WBTC and LP and other encrypted assets as collateral to borrow the stable currency DAI.
- Peer-to-peer lending protocol RociFi Labs
On April 12, peer-to-peer lending protocol RociFi Labs completed a $2.7 million seed round. RociFi aims to provide zero-collateralized loans by using borrowers’ established DeFi positions to judge lenders’ creditworthiness.
- Cross-chain interoperability protocol Nomad
On April 13, the cross-chain interoperability protocol Nomad completed a $22 million seed round, led by Polychain. Nomad is a cross-chain communication protocol, built with Optimistic Rollups verification technology, which can realize the instant arrival of assets when cross-chain.
- One-stop cross-chain service platform Bridge Network
On April 7, Bridge Network completed a $3.8 million private round of financing, with participation from FTX Ventures, MEXC Global, etc. Bridge Network aims to become a one-stop cross-chain service platform that not only supports the cross-chain of Tokens, but also supports the cross-chain of NFT assets , and track the dynamics of multi-chain assets to achieve one-stop multi-chain asset management.
DEX and other DeFi application sectors
- Polkadot ecological cross-chain DEX Mangata
On April 28, Mangata announced that it had completed a $4.2 million financing at a valuation of $60 million. Mangata is a cross-chain decentralized exchange in the Polkadot ecosystem.
- Decentralized Insurance Protocol Amulet Protocol
On April 28, Amulet Protocol completed a $6 million seed round, led by Gumi Cryptos Capital, with participation from Solana Ventures, DeFiance Capital, and Animoca Brands. Amulet Protocol is a decentralized insurance protocol for the Solana ecosystem.
- DeFi Yield Management Platform OndoFinance
On April 27, the revenue management platform Ondo Finance completed a $20 million Series A financing, led by Founders Fund and PanteraCapital, with participation from Coinbase Ventures and TigerGlobal. Ondo Finance is a decentralized income management platform that provides multi-level decentralized structure products with different risk levels, such as fixed income products and floating income products. Users can choose their own investment products according to their risk tolerance.
- Centralized exchange infrastructure provider 0x Labs
On April 26, 0x Labs announced the completion of a $70 million Series B financing led by Greylock Partners, with participation from Pantera, Jump Capital, and OpenSea. 0x Labs is a well-known decentralized trading infrastructure provider, mainly providing trading systems, smart contracts, etc. for DEX. The representative product has the 0x protocol, the decentralized aggregation trading platform Matcha.
- Liquidity Aggregator FLUID
On April 14, liquidity aggregator FLUID completed a $10 million financing, led by GSR and 21Shares. FLUID provides users with low-slippage transactions by aggregating and decentralizing liquidity.
- Volt Protocol, an inflation-resistant stablecoin project
On April 12, Volt Protocol, an anti-inflation stablecoin protocol, completed a $2 million seed round, led by Framework Ventures and Nascent, with participation from Fei Protocol and Rari Capital. Volt Protocol has issued VOLT, a token that tracks the Consumer Price Index (CPI). The target price of Volt is updated every month according to changes in the inflation rate to ensure stable purchasing power. This stable currency is different from previous algorithms that are stable Coins are pegged to fiat currencies.
- Algorithmic Stablecoin Protocol TiTi Protocol
On April 11, the algorithmic stablecoin protocol TiTi Protocol completed a $3.5 million financing, led by Spartan Group. TiTi Protocol is a decentralized, multi-chain, multi-asset reserve-backed algorithmic stablecoin.
- Liquid pledge service provider RockX
On April 5, RockX, a liquidity pledge service provider, completed a $6 million Series A financing, led by Amber Group.Focusing on the native assets of the POS consensus mechanism block network, it is a service platform that improves pledge income by releasing the liquidity of node pledge assets.
DeFi sector financing, image source: Honeycomb Tech
- “Play To Earn” (P2E) Game GamerGains
On April 26, GamerGains, a P2E game in the Web2 world, completed a $5.8 million seed round, led by Cadenza Ventures.GamerGains is a play and earn game developed mainly for Internet users in the Solana ecosystem. It hopes to create a convenient and accessible portal for traditional game players, so that ordinary people can integrate into Web3. Players can use PCs and traditional game consoles without registering digital wallets. You can get in-game crypto asset rewards.
- star wars game Apeiron
On April 26, Chain Game Apeiron completed a $10 million seed round of financing, led by Hashed, and participating investors include DeFiance CapitaL. Apeiron is a card based Star Scramble Wars game.
- Game Aggregation Platform ForthBox
On April 25th, the game aggregation platform ForthBox completed a seed round of financing of US$1 million. ForthBox is a blockchain game aggregation platform and comprehensive service provider. Game manufacturers can issue NFT games on the platform with one click, and easily transform traditional games on the chain. .
- Chain game platform OpenBlox
On April 22, the chain game platform OpenBlox completed a $3 million seed round, led by Shima Capital. OpenBlox plans to launch three games as well as a marketplace for NFT exchanges.
- “Ride to Earn” BikeRush
On April 21, the Ride to Earn project BikeRush completed a $6.5 million financing, led by Negentropy Capital. BikeRush is a sports game where you can earn while riding.
- P2E role-playing game Elumia
On April 14, P2E game Elumia completed a new round of financing, the specific amount was not disclosed, led by Alameda Research and Animoca Brands. Elumia game is a role-playing game developed based on Solana ecology.
- Battle Royale Game Blast Royale
On April 13, the NFT chain game Blast Royale completed a $5 million seed round of financing, led by Animoca Brands and Mechanism Capital. Blast Royale is a battle royale game built on the Polygon chain, in which players use NFT items to equip their characters and participate in the battle royale, known as the blockchain version of PUBG.
- Panda Game Project Paladin Pandas
On April 13, the NFT game project Paladin Pandas completed a $4 million financing, with Future Capital and others participating in the investment. Paladin Pandas is a social simulation game based on panda image NFT.
- Basketball game Swoops
On April 13, the NFT basketball game Swoops completed $3.5 million in financing, led by Courtside Ventures and Alpaca VC. Swoops is an NFT basketball game based on Polygon
- City Construction Chain Tour Civitas
On April 12, the chain game Civitas completed a $20 million financing, led by DelphiDigital and Three Arrows Capital.Civitas is a community-driven collaborative city-building game.
- Gaming Community Platform Iskra
On April 7, Iskra, the Web3 game community platform, completed a $34 million financing, led by Krust Universe. Iskra plans to become the web 3.0 gaming platform of choice for players and investors, while integrating sustainable token economic solutions for developers and creating new opportunities for gaming within the community.
- Blockchain football game GOALS
On April 5, the blockchain football game GOALS completed a $15 million seed round, led by Northzone. GOALS is a multiplayer soccer competitive game developed based on NFT.
- YGG Sub DAO Organization YGG SEA
On April 27, YGG SEA, a subsidiary of Chain Game Association YGG, completed a $15 million financing, and Animoca Brands participated in the investment. YGG SEA is the first sub-DAO organization (subDAO) of Yield Guild Games, mainly serving gamers and studios in the Southeast Asian community.
- YGG Sub DAO Organization Ola GG
On April 26, Ola GG, the YGG sub-DAO guild of the Chain Game Association, completed a $8 million seed round of financing. Ola GG is a regional sub-DAO guild under YGG, mainly serving the United States, Latin America and other regions.
- Merit Circle
On April 13th, Merit Circle, the Chain Game Association, completed a new round of financing, led by Binance Labs. The specific amount was not disclosed.
- Ready Player DAO
On April 6, Ready Player DAO, a P2E game guild, completed $10.2 million in financing, led by The Chernin Group. Ready Player Dao supports players to access games and earn assets such as Token or NFT by providing game players with the rental of game assets represented by NFT.
On April 5, the gaming guild Polemos completed a $1,400 seed round, led by Framework Ventures and Delphi Digital.Polemos is a P2E game guild focusing on NFT games. It plans to develop the GameFi learning management system, a decentralized guild asset trading platform, and a user analysis platform for educating, tracking, analyzing, and managing players.
Blockchain game development company
- Double jump.tokyo
On April 27, the Japanese crypto game startup Double jump.tokyo completed 3 billion yen in financing, led by Jump Crypto and Amber Group, and the funds raised will be used to develop IP-based blockchain games. Double jump.tokyo is the developer of the popular crypto game My Crypto Heroes. This is a role-playing game where users can trade items and characters as NFT assets to earn cryptocurrency.
- Goons of Balatroon
On April 23, Goons of Balatroon, a blockchain game development company, completed a $2.46 million seed round, led by Merit Circle and Jun Capital. Goons of Balatroon built a collectible card game (TCG).
- Digital Insight Games
On April 8, blockchain game company Digital Insight Games completed a $7.5 million financing, led by Hivemind Capital and Griffin Gaming Partners. The funds are used to develop the application of Web 3 and blockchain technology in games.
- Chain Game Development Team DEFY Labs
On April 8, the chain game development team DEFY Labs completed a $3.5 million seed round of financing, led by Animoca Brands and others. DEFY Labs has developed an AR game called “DEFY”. By setting up hacking tasks, players are encouraged to explore the physical environment with the help of augmented reality, and rewards are distributed to players in the form of encrypted assets and NFTs.
- Axie Infinity Development Company Sky Mavis
On April 6, Axie Infinity chain game development company Sky Mavis completed a $150 million financing, led by Binance, to compensate for user funds affected by the Ronin hack.
GameFi sector financing, image source: Honeycomb Tech
On April 29, Ponlaii, the parent company of the Metaverse project Rivermen, completed an angel round of financing of US$4.5 million, led by Mirana Ventures, and participated by SuperChain Capital and HashKey. Rivermen is a domestic NFT project that created a Metaverse game based on “Across the River during Qingming Festival”.
- Metaverse intermediate plugin Reitio
On April 26th, Reitio completed a $4 million financing, which is a Metaverse intermediary plug-in designed to allow users to easily create their own 3D assets in the Metaverse.
- Metaverse one-stop platform Metakey
On April 26, the NFT project Metakey completed a $3.5 million financing at a valuation of $50 million, led by Animoca Brands. Metakey is committed to achieving interoperability between different projects. Metakey NFT is equivalent to the pass of the Metaverse world. By holding it, you are equivalent to owning different NFT assets in different Metaverses.
- The Kingdom
On April 8, the Metaverse project The Kingdom completed a $3.6 million financing, and Alameda Research participated in the investment. In The Kingdom Metaverse, people can also visit shops, user housing, public buildings, and experience a variety of digital experiences.
- Technology Services Company Improbable
On April 7, Metaverse technology company Improbable completed a $150 million funding round led by a16z and SoftBank.Improbable is a Metaverse technology company that mainly provides technology and business model design services for Metaverse developers.
- NFT Foundry Service Platform CXIPLabs
On April 27, NFT minting service platform CXIP Labs completed a $6.5 million seed round. CXIP Labs is a protocol that aims to solve common problems in NFT minting. The funds raised will be used to launch a new platform for creators, developers and enterprises. New product suite that allows NFT creators to create new works without extensive coding knowledge and makes it easier for developers to bridge NFTs between blockchains.
- Moonbirds parent company PROOF
On April 26, PROOF, the parent company of the NFT project Moonbirds, completed $10 million in financing, and 776 Management participated in the investment. PROOF is the club of Moonbirds, the owl NFT project, and a well-known podcast community in the NFT field.
- NFT lending platform Flowty
On April 22, Flowty, an NFT lending platform based on the Flow public chain, completed $4.5 million in financing, led by Greenfield One and Lattice Capital. Flowty is a peer-to-peer NFT lending platform that supports borrowers to mark the required loan amount, interest rate and term for their NFTs on the Flowty market, waiting for lenders to match.
- Female Avatar NFT Series Boss Beauties
On April 21, the NFT series Boss Beauties completed a 4.4 million seed round of financing, led by Offline Ventures. Boss Beauties is an NFT project consisting of a collection of 10,000 unique manga female avatars.
- NFT lending protocol MetaLend
On April 21, NFT lending protocol MetaLend completed a $5 million seed round, led by Pantera Capital. MetaLend implements NFT asset lending in the form of a fund pool, that is, the same type of NFT has a lending pool.
- NFT Portfolio Management Platform NFTBank
On April 21, the NFTBank operator completed about $12 million in Series A financing, led by Hashed. NFTBank is an NFT portfolio management platform that currently supports NFTs on the Ethereum and Polygon (formerly Matic) networks.
- Cricket NFT Platform Rario
On April 21, the cricket NFT platform Rario completed a $120 million financing, led by Dream Capital. Rario empowers fans to engage like a community, by minting digital collectibles of player cards, video moments and cricket artifacts into NFTs, giving players ownership of the creations of these great moments.
- Mintbase, an NFT creation and sales platform
On April 19, Mintbase, the NEAR ecological NFT infrastructure, completed a $12.5 million Series A financing, including a $7.5 million strategic round of financing and a $5 million funding program supported by the NEAR Foundation. Mintbase is an NFT creation and sale platform built on Near.
- Fragmented NFT trading market Dank Bank
On April 2, Dank Bank completed a seed round of financing of over $4.2 million, with participation from the former Coinbase CTO. Dank Bank mainly focuses on tokenizing well-known NFT works in the form of fragments, reducing the threshold for players to participate.
- Terra ecological NFT trading market OnePlanet
On April 1, OnePlanet, the Terra ecological NFT trading market, completed $3.35 million in financing, led by Hashed.
- Fractal, the game NFT trading market
On April 2, Fractal, the Solana ecological game NFT market, completed a $35 million seed round of financing, led by Paradigm and Multicoin Capital. The NFT market based on the Solana ecological chain built by Fractal supports users to purchase, trade and hold any NFT used in blockchain games.
NFT sector financing, image source: Honeycomb Tech
- Creator Community SeeDAO
On April 29, SeeDAO announced that it has completed its Series A financing at a valuation of $30 million at the end of January 2022. SeeDAO is a creator community and an incubator of DAO. It collaborates in blockchain product research, demand research and product design in the form of a decentralized autonomous organization.
- DAO Mortgage Lending Protocol PorterFinance
On April 8, the DAO mortgage lending protocol Porter Finance completed a $5 million seed round of financing. Participating investors included ParaFi Capital, Dragonfly Capital, etc. Porter Finance supported some high-quality DAO organizations to use their project Tokens as collateral to obtain fixed-rate financing.
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