- Blockchain technology is disrupting traditional industries by attracting venture capitalists to its valuable assets such as NFTs.
- In continuation to their foray into blockchain industry, a16z executives back a new non-fungible token fund called Curated.
- A Scandinavian neobank, Lunar raises $77 million at a $2 billion valuation.
Over the recent months, the crypto markets might not have witnessed any significant leads. However, it didn’t stop venture capitalists from discontinuing their exploration in the crypto space. Let’s look at the latest investments made that constituted the VC roundup.
Andreessen Horowitz Backs New NFT Fund
Continuing their foray into the blockchain industry this month, the investment team at Andreessen Horowitz backed Curated, a new non-fungible token fund. The fund is worth $30 million and serves the purpose of buying and holding NFT artwork. According to Tech Crunch, Arianna Simpson, Andrew Chen, Chris Dixon, and John Lai are all investors in the fund.
FreedomFi Completes Funding Round At $9.5M.
With the aim to advance a Web3 platform that allows consumers to crowdsource deployments of small cell networks through digital assets, FreedomFi, a crypto-friendly 5G developer, has raised $9.5 million. Qualcomm Ventures, Blueyard Capital, and Samsung Next financed the series A funding round.
Crypto-friendly Neobank, Lunar Raises $77M.
After raising $77 million at a $2 billion valuation, Lunar, a Scandinavian neobank, intends to launch a new crypto platform and B-to-B service. Initially, the focus of the crypto trading service will be on just five assets: Polkadot (DOT), Dogecoin (DOGE), Bitcoin (BTC), Cardano (ADA), and Ether (ETH).
Joyride, Web3 Platform Receives $14M.
Joyride Games, a Web3 gaming platform, recently closed a $14 million seed round. BITKRAFT Ventures, Coinbase Ventures, SuperLayer, Dapper Labs, Animoca Brands, and Solana Ventures are some big names that financed the round.
The Joyride platform prioritizes developers who intend to create and launch blockchain-powered social games and esports. The company also revealed that it plans to launch the first batch of gaming projects on its platform in the near future.
Milo, A Crypto Mortgage Lender Raises $17M.
Milo, a fintech startup with a central focus on crypto, has raised around $17 million in Series A funding from venture firms QED Investors, M13, and MetaProp. Milo also revealed that it would utilize the funding in a suite of product offerings, including a 30-year crypto mortgage that would enable users to keep digital assets as collateral for their home loans. Milo’s 30-year mortgage has already received more than 7,400 applications since its launch in January.
The first product, a mortgage solution for foreign nationals, of the company has already processed $500 million in applications from over 90 countries.
Web3 Game Developer Laguna Games Raise Closes $26 Million Token Sale.
Laguna Games, a Web3 game developer, closed a $26 million token sale for Crypto Unicorns, a Polygon-based NFT collection. Among the buyers were Delphi Digital, Polygon Studios, BITKRAFT Ventures, CoinFund, Backed VC, ACME Capital, TCG, and many more.
Laguna Games announced that the funds raised would be assigned to the Crypto Unicorns DAO Treasury, whose community will receive the governing rights over some time.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/03/21/despite-stagnant-crypto-market-venture-capitalists-invests-in-valuable-blockchain-assets-nfts-web3-devs-raises-funds-in-millions/