Another week in the books. We didn’t quite hit the $1B mark but got pretty close: $762MM. There was a consistent flow of cash into the new world of decentralized finance. Most of the big money will fund Digital Asset and Blockchain projects backed by two of the largest companies in the payment space: Paypal and Visa.
Low Tier ($7MM)
Bitcoin Water Trust raised $1.4MM and counting. Trace Network raised strategic investment of over $1.6MM from leading Blockchain investors. Yield Guild Games doubles down on the play-to-earn model with $4MM funding round. a16z backs DeFi project Goldfinch, which aims to reshape lending.
Mid Tier ($150MM)
Decentralized derivatives platform SynFutures raises $14MM in Series A. PayPal and Salesforce contribute to TRM Labs’ $14MM investment round. NFT marketplace Rarible closes $14MM fundraising round led by CoinFund. Coinbase-backed Securitize secures $48MM in Series B funding. The Graph Foundation taps a protocol infrastructure developer for a $60MM grant.
High Tier ($605MM)
Crypto-finance company Amber Group valued at $1B following a $100MM raise. Former LA Dodgers owner (Frank McCourt) earmarks $100MM for blockchain-based social media. Stronghold raised $105MM to power Bitcoin Mining with coal waste. PayPal and Visa among investors in Blockchain Capital’s $300MM Fund.
It’s all fun and games until these projects begin to gain traction and shift from the old traditional financial system to the new power financial system that is Decentralized Finance.
