The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention that companies are paying to Bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
DePIN platform IoTeX raised $50 million
Modular DePIN platform IoTeX has raised $50 million from SNZ Capital, Foresight Ventures, Borderless Capital, Amber Group, FutureMoneyGroup, Metrics Ventures, EV3, Waterdrip Capital and other investors.
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$50M investment into IoTeX’s DePIN ecosystem.
Funding from @snzholding, @ForesightVen, @borderless_cap, @ambergroup_io, @fmgroupxyz, @MetricsVentures, @EV3ventures, @waterdripfund, @SummerEverest & others.
The $50M will be injected into long-term staked $IOTXour DePINsurf… pic.twitter.com/ucbPrbJ5cL
— IoTeX (@iotex_io) April 2, 2024
The funds raised will be used to accelerate the growth and implementation of DePIN.
Modular blockchain developer 0G Labs raised $35 million
The startup behind the development of modular blockchain, 0G Labs, has closed a pre-seed funding round worth $35 million.
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We are so excited to announce our pre-seed fundraise completion:
At @0G_labswe are building the first modular AI chain, and it has been our delight from day 1 to build the fastest programmable data availability solution for high-performance DApps. 🥳
— 0G Labs (@0G_labs) March 26, 2024
Investments provided by Hack VC, OKX Ventures, GSR, Animoca Brands, Arca, NGC Ventures, DWF Labs, Foresight Ventures, gumi Cryptos Capital and Dispersion Capital.
The company’s valuation has not been disclosed.
0G Labs is developing a modular blockchain focused on decentralized applications using artificial intelligence. As he writes The Block, the team expects to make it 50,000 times faster and 100 times cheaper than competitors. Mainnet is planned to be launched in July 2024.
Game developer Gunzilla Games raises $30 million
Off the Grid developer Gunzilla Games announced it has raised $30 million, including $10 million in a strategic funding round.
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We are thrilled to announce that Gunzilla Games has secured $30M in funding! This round was co-led by @CoinFund_io & @avaxwith incredible support from @Morningstar_vc & @_rcapital_.
This funding accelerates the creation of @playoffthegrid and our innovative @gunbygunz… pic.twitter.com/mQL1TgMIbd
— Gunzilla Games (@GunzillaGames) March 26, 2024
It was led by CoinFund and Avalanche’s Blizzard Fund, with participation from Republic Capital and Morningstar Ventures. The team received the rest of its funding through the sale of shares.
The funds raised will be used for the development and release of Off the Grid, a free blockchain battle royale game that will be released on PC, PlayStation and Xbox consoles.
Web3 startup XION raised $25 million
Web3 infrastructure firm XION has raised $25 million from Animoca Brands, Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, GoldenTree and other investors.
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XION has raised an additional $25M to continue making crypto accessible to everyone, everywhere. pic.twitter.com/JkEIiuEkzA
— Burnt (XION)🔥 (@burnt_xion) April 1, 2024
In December 2023, XION developers launched a testnet focused on “generalized abstraction,” an infrastructure solution designed to simplify user interactions with Web3.
The technology does not involve the direct use of accounts, signatures and other processes typical for interaction with cryptoassets. Users can use the web using native Web 2.0 methods like email and Passkey technology.
Ellipsis Labs raises $20 million from Paradigm
Ellipsis Labs, the team behind decentralized exchange (DEX) Phoenix, has closed a $20 million Series A funding round.
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1/ We’re excited to announce our $20M Series A led by @paradigmto further our mission of building a sustainable DeFi ecosystem. pic.twitter.com/ahtWEZWX8H
— Ellipsis Labs (@ellipsis_labs) April 4, 2024
It was led by Paradigm with the participation of Electric Capital, Robot Ventures, Anagram Crypto and business angels, including Solana co-founder Anatoly Yakovenko.
According to DefiLlamaPhoenix ranks eighth in the Solana-based DEX rating with a TVL of $14.2 million. Over the past 24 hours, trading volume on the exchange amounted to $286 million.
Crypto casino MyPrize raised $13 million at a valuation of $140 million
Cryptocurrency online casino MyPrize has closed two rounds of financing totaling $13 million. The project valuation reached $140 million, reports The Block.
MyPrize co-founder Zach Bruch said the company closed its first round of funding for $5 million in October 2023, and its second round of $8 million in March 2024.
They were led by Dragonfly and Boxcars Ventures with participation from a16z Scout, Mechanism Capital, Arrington Capital, Breed VC, JST Capital, 2 Punks Capital and other investors.
MyPrize is a Web3 gaming startup that supports streaming and allows users to play together. It is currently in early access mode, with a full launch planned for the second quarter of 2024.
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ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-04-06 17:16:43
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