CGV Research Vane | Weekly report on global crypto market investment and funding developments

The crypto market as a whole saw a decline this week, with both BTC and ETH down 6%. Looking at this week’s statistics (9 projects in total), the pitch market started to recover for NFT (2), Game (3), and DeFi (3) projects, while the number of pitches for Web3 infrastructure projects (1) slowed down.CGV, in conjunction with CTC, has compiled a week’s worth of noteworthy investment and funding information from the global crypto market for August 29 — September 4, 2022, as follows.


【Infrastructure】


1. Sei Labs | Seed round funding of $5 million|Led by Multicoin Capital

On August 31, crypto startup Sei Labs closed a $5 million seed round led by Multicoin Capital, with participation from Coinbase Ventures, GSR, Flow Traders, Hudson River Trading, Delphi Digital, Tangent and others. Link to original article:https://www.bloomberg.com/news/articles/2022-08-31/ex-goldman-banker-s-crypto-startup-backed-by-key-market-makers

【DeFi】

2. GammaX | Raised $4 million|Led by StarkWare On August 29th, GammaX, a Singapore-based company building a new high-performance hybrid crypto derivatives exchange, closed a $4 million round of funding led by StarkWare and Dexterity Capital, with participation from Alphanonce, Cobo, Genesis Trading, Kyber, Ledger Prime, Matrixport, Profluent, Uncorrelated, and 01Node. Link to original article:https://decrypt.co/108460/gammax-raises-4m-launch-crypto-derivatives-exchange-ethereum-layer-2-solution

3. Clockwork | Raised $4 million|Led by Multicoin Capital On August 30th, Clockwork, a decentralized automation network for Solana, closed a $4 million seed round led by Multicoin Capital and Asymmetric, with participation from Solana Ventures and El Cap Ventures. The funding round will be used to expand the team, build community and support integration with partner projects. Link to original article:https://www.theblock.co/post/165953/solana-automation-network-clockwork-raises-4-million?utm_source=twitter&utm_medium=social

4. GoGoPool | Raised $5 million|Led by Framework Ventures On August 31,GoGoPool, a decentralized staking protocol on Avalanche, announced a $5 million funding round led by Framework Ventures and Coinfund, with participation from Avalaunch, Republic Capital and Flow Traders. Link to original article:https://www.theblock.co/post/166498/gogopool-raises-5-million-to-provide-decentralized-staking-on-avalanche?utm_source=twitter&utm_medium=social

【Game】

5. Limit Break | Raised $200 million|Led by Paradigm On August 29th, Limit Break raised $200 million in two rounds of funding led by Josh Buckley, Paradigm and Standard Crypto, with participation from FTX, Coinbase, Positive Sum, Shervinator and Anthos Capital. Link to original article:https://twitter.com/limitbreak/status/1564240941690798081?s=21&t=8jZochTqhoCKzRvvu4iz-A

6. Xterio | Raised $40 million|Led by FTX Ventures On August 30, Xterio, a web3 game developer and publisher, announced a $40 million funding round co-led by video game developer FunPlus, venture capital firm Makers Fund, FTX Ventures and blockchain gaming platform XPLA, with participation from Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto and Matrix Partners. Foresight Ventures, Infinity Ventures Crypto and Matrix Partners. Link to original article:https://www.theblock.co/post/166447/web3-game-developer-xterio-raises-40-million-in-saft-sale

7. Internet Game | Seed round funding of $7 million|ParaFi Capital and others participated On September 3, Internet Game, a project that has described itself as ‘HQ Trivia meets NFTs,’ announced the closing of a $7 million seed funding round with participation from ParaFi Capital, Dragonfly Capital, Dephi Digital, Uniswap Ventures, Collab+Currency and others. Link to original article:https://www.theblock.co/post/167390/bankrupt-hq-trivias-nft-reinvention-scores-7-million-seed-round

【NFT】

8. Tokenproof | Raised $5 million|Led by Penny Jar On August 30, Tokenproof, a token-gating platform, announced a $5 million funding round led by Penny Jar with participation from Corazon Capital, 6th Man Ventures, Canonical Crypto and others. Link to original article:https://www.coindesk.com/business/2022/08/30/nft-security-startup-tokenproof-raises-5m-to-keep-jpegs-safe-from-scammers/

9. PROOF | Series A financing of $50 million|Led by a16z On August 31, PROOF, the parent company of NFT project Moonbirds, announced the completion of a $50 million Series A funding round led by a16z with participation from Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, Vayner Fund and others. Link to original article:https://docs.proof.xyz/future/press

The first Tokyo Web3 Summer Hackathon, “TWSH”, was launched by Cryptogram Venture (CGV). TWSH welcomes the participation of traditional Internet developers and blockchain developers who are interested in Web3, developers, engineers, product managers and UI designers with innovative and creative abilities.

  • Application for institutional cooperation (event support, project investment, media cooperation, etc.): Yurinatyou@cgv.fund

  • Website for project registration: https://www.web3hackathon.io/


About Cryptogram Venture (CGV) Cryptogram Venture (CGV) is a Japan-based research and investment institution engaged in crypto. With the business philosophy of “research-driven investment”, it has participated in early investments in FTX, Republic, CasperLabs, AlchemyPay, Graph, Bitkeep, Pocket, and Powerpool, as well as the Japanese government-regulated yen stablecoin JPYW, etc. Meanwhile, CGV FoF is the limited partner of Huobi venture, Rocktree capital, Kirin fund, etc. Currently, CGV has branches in Singapore, Canada, and China.