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



With a crisis in market liquidity, NFT volume fell 74% month-over-month in June, the largest drop ever. From the primary market investment and financing data (10 projects in total) counted this week, the primary investment and financing of web3 infrastructure (3), Metaverse (3) and DeFi (2) projects started to pick up, while speculative institutions are still cautious about GameFi (1) and NFT (1) projects. CGV, in conjunction with CTC, has put together a roundup of the week’s noteworthy pitches in the global crypto market for July 11 — July 17, 2022, as follows.

【Infrastructure】

1. Quadrata | Seed round funding of $7.5 million|Led by Dragonfly Capital

On July 12, Web3 Identity Network Quadrata closed a $7.5 million seed funding round led by Dragonfly Capital with participation from Franklin Templeton, Abra, GSR Ventures, Orange DAO, Fellows Fund, GreatPoint Franklin Templeton, Abra, GSR Ventures, Orange DAO, Fellows Fund, GreatPoint Ventures, August Capital and others.

Link to original article:https://www.coindesk.com/business/2022/07/12/dragonfly-capital-leads-75m-round-for-quadratas-identity-passport/

2. Farcaster | Raised $30 million|Led by a16z On July 13, Farcaster, a decentralized social protocol, closed a $30 million funding round led by a16z, with Standard Crypto, Elad Gil, 1confirmation, Scalar Capital, First Round Capital, Volt Capital, A Capital, Todd and Rahul’s Angel Fund, Coinbase Ventures, Mischief, Ansa Capital, Haystack, Ribbit Capital, Chapter One, Multicoin Capital, Offline Ventures, Archetype, Canonical Crypto, Proof Group, Floodgate, Balaji Srinivsasan, 6529, Ray Tonsing and others. Farcaster has released an initial version of its protocol and client, is in development for Farcaster v2, and plans to launch later this year.

Link to original article:https://danromero.org/farcaster/

3. Modular Capital | Raised $20 million|Multicoin Capital and others participed On July 18, cryptocurrency hedge fund Modular Capital closed a $20 million funding round with participation from Multicoin Capital, ParaFi Capital, Road Capital and LedgerPrime.

Link to original article:https://blockworks.co/investment-pros-jump-into-bear-market-with-new-crypto-hedge-fund/=

【DeFi】

4. Contango | Raised $4 million | Coinbase Ventures and others participed On July 14, Contango, a unique decentralized exchange (“DEX”) offering expirable futures (i.e. instruments with a known settlement date), announced a $4 million funding round led by ParaFi, with participation from incubator dlab and Advanced Blockchain AG, as well as Coinbase Ventures, Spartan Group, AngelDAO, Cumberland, GSR Markets, and Amber Group.

Link to original article:https://medium.com/contango-exchange/contango-raises-4m-in-a-round-led-by-parafi-to-bring-expirable-futures-to-defi-9424a943741a

5. Empiric Network | Raised $7 million | Jane Street and others participed On July 16, Empiric Network, a new decentralized blockchain oracle on StarkNet, announced the completion of a $7 million funding round led by Variant with participation from Alameda, CMT, Flow Traders, Gemini, Jane Street, StarkWare, and others, which will be used primarily for hiring and expanding the development team.

Link to original article:https://www.coindesk.com/business/2022/07/15/decentralized-oracle-empiric-network-launches-with-7m-funding-round/

【Game】

6. CLUB | Seed round funding of $3.1 million | Led by Zee Prime Capital On July 16, CLUB, a Web3 game studio, announced the closing of a $3.1 million seed funding round led by Zee Prime Capital with participation from ATKA, Merit Circle, CitizenX, Moonlanding Ventures, and Petrock Capital. CLUB is developing the P2E soccer game “CLUB Game”, which aims to introduce Web3 digital ownership to enhance the gaming experience and enable players to realize the value of what they have created.

Link to original article:https://alexablockchain.com/club-raises-3-1m-seed-financing/

【NFT】

7. Hang | Series A financing of $16 million | Led by Paradigm On July 14, Hang, an NFT membership platform, announced the closing of a $16 million Series A round of funding led by Paradigm with participation from Tiger Global, 35 Ventures, Night Ventures and others. Hang’s membership program will use NFT to incentivize users with rewards and perks, and the platform has already partnered with brands such as Budweiser and Pinkberry.

Link to original article: https://www.coindesk.com/business/2022/07/14/paradigm-leads-16m-round-for-nft-membership-platform-hang/

【Metaverse】

8. Hologram | Seed round funding of $6.5 million | Led by Polychain Capital On July 15, Hologram, an on-chain virtual character development platform, announced the closing of a $6.5 million seed round led by Polychain Capital with participation from Nascent, Inflection, The Operating Group, Quantstamp, Neon DAO and others.

Link to original article:https://venturebeat.com/2022/07/14/hologram-raises-6-5m-for-blockchain-based-avatars-that-you-can-use-in-video-calls/

9. Arkive | Raised $9.7 million | Coinbase Ventures and others participed On July 16, Arkive, a decentralized physical museum, closed a $9.7 million funding round led by Offline and TCG Crypto, with participation from NFX, Freestyle Capital, Coinbase Ventures, Not Boring Capital, Precursor, Chainforest and others.

Link to original article:http://svdaily.com/2022/07/15/arkive-emerges-from-stealth/

10. Jakaverse | Raised $3 million in pre-A round | Led by Titan Capital Group On July 18, Jakaverse, a Thai metaverse platform, announced the closing of a $3 million pre-A round of funding led by Titan Capital Group Holdings and the acquisition of 100 Jakaverse metaverse virtual plots.

Link to original article:https://www.globenewswire.com/news-release/2022/07/18/2480930/0/en/Jakaverse-Metaverse-Platform-Raises-3M-Pre-Series-A-Financing-from-Young-Millionaire-Partners-Owner-of-Titan-Capital-Group-Holdings-Co-Ltd.html

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.