With the continued downturn in the market, project valuations in the crypto market have shrunk significantly compared to previous periods. From this week’s statistics (7 projects in total), web3 infrastructure projects (2) saw a significant decrease in the number of pitches, NFT (4) projects remained the market’s focus, and DeFi (1) projects saw a significant decrease in the number of pitches. CGV, in conjunction with Cointelegraph Chinese, has put together a roundup of the week’s notable pitches in the global crypto market. The following is a summary of the global crypto market’s noteworthy pitches for 20 June — 26 June.
1. Finhay｜Series B funding of $25 million｜Led by Openspace Ventures
On June 23rd, Finhay, a Vietnamese digital investment platform, announced the completion of a $25 million Series B funding round led by Openspace Ventures and VIG, with participation from Insignia, TVS, Headline, TNBAura and IVC.Investments. Link to original article:https://www.financemagnates.com/fintech/news/investment-platform-finhay-raises-25-million-in-series-b-round/
2. Flowdesk｜Series A funding of $30 million｜Coinbase and others participed On June 24, crypto financial services company Flowdesk closed a $30 million Series A funding round with participation from Coinbase, Ledger, Eurazeo, Aglaé Ventures, ISAI, Speedinvest, Fabric.vc and some angel investors. Link to original article:https://www.coindesk.com/business/2022/06/24/flowdesk-raises-30m-to-expand-trading-and-market-making-services/
3. Astaria｜Raising $8 million｜Genesis Trading and others participed On 20 June, NFT lending platform Astaria closed an $8 million funding round with participation from True Ventures, Arrington Capital, Ethereal Ventures, Wintermute, Genesis Trading, Ledger Prime, Hypersphere Ventures, TheLAO and others. Link to original article:https://www.coindesk.com/business/2022/06/20/ex-sushi-cto-raises-8m-for-nft-lending-platform-astaria/
4. Magic Eden｜Series B financing of $130 million｜Led by Electric Capital On 21 June, Magic Eden, the Solana eco-NFT marketplace, announced the closing of a $130 million Series B round of funding led by Electric Capital and Greylock at a post-money valuation of $1.6 billion. magicEden plans to use the funding to expand its primary and secondary markets. Link to original article:https://www.coindesk.com/business/2022/06/21/solana-nft-marketplace-magic-eden-raises-130m-at-16b-valuation/
5. Cyan｜Seed round funding of $2 million｜Led by Animoca Brands On 24 June, Cyan, the NFT financial services protocol, closed a $2 million seed round led by gumi Cryptos Capital (gCC) and Animoca Brands, with participation from OpenSea, Fabric Ventures, Bastion Tradingm and others. Cyan, the Buy Now, Pay Later service for the metaverse, is the first protocol to provide financing options for purchasing NFTs. Link to original article:https://medium.com/@usecyan/cyan-receives-2m-in-seed-round-investment-1d172f6e17a9
6. Cryptoys｜Series A financing of $23 million｜Led by a16z On June 24, Cryptoys, a digital toy NFT platform, closed a $23 million Series A round led by a16z with participation from Mattel, Dapper Labs, Draper & Associates, Acrew Capital, CoinFund, Animoca Brands and Sound Ventures. Link to original article:https://techcrunch.com/2022/06/23/cryptoys-banks-a16z-funding-to-build-nfts-for-kids/?tpcc=tcplustwitter
7. Increment｜Seed round funding of $1.56 million｜Led by ParaFi Capital On June 20, Increment, a decentralized perpetual contract, announced a $1.56 million seed round led by ParaFi Capital with participation from Delphi Digital, Dialectic, AngelDAO, LedgerPrime and SkyVision Capital. Link to original article:https://medium.com/increment-newsletter/increment-raises-1-56m-to-bring-multi-currency-perpetual-swaps-to-zksync-2-0-adb12a6f9764
About CGV FoF: CGV FoF is an Asia-based Fund of Funds (FoF) that focuses on investments in Crypto Fund and Crypto Studio. CGV FoF is composed of family funds from Japan, Korea, and China’s mainland and Taiwan, with headquarters in Japan and branches in Singapore and Canada.