Many things happened with Bitcoin (BTC) And our cryptocurrency market since Final version of VC Roundup.. The huge collapse of the Terra ecosystem has spread to other segments of the digital asset market, exposing over-leveraged traders, lending platforms and venture capital funds. In the process Bitcoin prices plummeted to new lowsFor the first time in its history, it has fallen below the peak of the previous cycle.
Despite the macro headwinds that hurt the crypto market, venture capital firms are still investing in the industry’s most promising startups. The latest version of VC Roundup focuses on financing transactions for digital asset infrastructure providers, unmanaged cryptographic protocols, payment solutions and decentralized identity management companies.
Digital Asset Infrastructure Provider Ends $ 53 Million Round
The quest for PolySign to bring Institution-level cryptographic storage solution Investor support comes from several venture capital firms. The company recently raised $ 53 million in Series C funding with the support of Cowen Digital, Brevan Howard, GSR and others. In addition, the company has secured a $ 25 million credit line from the venture company Boathouse Capital. PolySign does not specify how to allocate funds, but Series C was closed almost as soon as the company acquired MG Stover, the manager of a digital asset fund.
Related: Goldman Sachs downgrades Coinbase stock to “sell”
Bitcoin startups raise money to monetize creators’ economies
Mash, the payment platform for Bitcoin and Lightning Network, raised $ 6 million in seed funding in June as part of its ongoing efforts to monetize the Internet for developers and content creators. The funding round was co-led by Nic Carter’s Castle Island Ventures and Whitecap Venture Partners, with additional participation by Maple VC, Strategic Cyber Ventures, Aquanow and Spacecadet Ventures. With the Mash platform, developers and content creators can use BTC and Lightning network..
NFT App Floor Raises $ 8 Million
The non-fungible token application Floor has completed a $ 8 million worth of Series A investment rounds to drive its mission to make NFT accessible to mainstream users. The funding round was led by 6th Man Ventures with additional participation by B Capital, Worklife Ventures, Collab + Currency, Crypto.com and more. Floor said it would use the funds to accelerate development and bring more usefulness to NFTs.
New crypto projects often rely on helping venture capital firms get going.
The real question is whether VCs are for the community and fundamentals, or for their own benefit.
(via @CointelegraphZN).https://t.co/92Gjt4ZlRI
— Cointelegraph (@Cointelegraph) July 8, 2022
Euler receives major support
The unmanaged crypto protocol Euler has completed a $ 32 million round of funding, led by Haun Ventures, including participation from FTX Ventures, Coinbase Ventures, Jump Crypto, Jane Street, Uniswap Labs and others. The funds will be injected into the finances of Euler’s Decentralized Autonomous Organization (DAO), which is deployed in three phases. Euler is a decentralized finance protocol built on Ethereum that allows users to rent and borrow crypto assets.
“Web 5” and distributed IDs attract VC interest
The distributed identity protocol Trinsic recently completed a $ 8.5 million seed round to continue building so-called user-controlled identity products. A spokesperson for the company said Trinsic’s products would add real-world usefulness to Jack Dorsey’s “Web 5” ambitions. Former Twitter CEO Web3 voice critic announced in June that it was bypassing the third iteration of the Internet. “I agree with Web5A new Bitcoin-centric model for identity management.
Related: VC Roundup: The rise of blockchain games, DAO management and asset tokenization
KYVE will complete $ 9 million in funding prior to launching the mainnet
The Web3 archiving protocol KYVE has raised $ 9 million prior to the planned launch of the mainnet in the fourth quarter of 2022. Financing rounds involving DistributedGlobal, Wicklow Capital, IOSG Ventures, Blockchain Coinvestors, HuobiIncurabor and others will be used to integrate more ecosystems into KYVE’s so-called distributed data lake. Currently, several blockchains such as Avalanche, Zilliqa, Cosmos and Polkadot are using KYVE.
No one thought that 2022 would bring this.
Check out the latest developments in the crypto and business world with CryptoBiz. https://t.co/gEIx0PTxXq
— Cointelegraph (@Cointelegraph) July 2, 2022
Atmos Labs targets Metaverse sports with seed raises
Play-to-earn developer Atmos Labs has completed a $ 11 million seed round to continue building metaverse-focused sports games. The investment round was led by Sfermion, an NFT-focused venture, with additional participation by Animoca Brands, Collab + Currency, FBG Capital, CoinGecko Ventures and others. Atmos Labs aims to bring esports to viewers around the world by creating immersive gameplay in the Metaverse.
