Investors Show Interest in Enterprise Blockchain, Bitcoin Staking, and Web3
The recent spike in global interest rates may have had an effect on investors’ willingness to invest in crypto ventures, however, new projects are still flourishing and receiving capital to boost their growth. According to the Cointelegraph Research Venture Capital Database, June ended with a 29.73% decrease in venture capital investments, with only $779.32 million…
The recent spike in global interest rates may have had an effect on investors’ willingness to invest in crypto ventures, however, new projects are still flourishing and receiving capital to boost their growth. According to the Cointelegraph Research Venture Capital Database, June ended with a 29.73% decrease in venture capital investments, with only $779.32 million being raised in 62 deals, compared to June 2022. In spite of this, the overall trend for the year shows an increase in venture capital deals. Our VC roundup highlights the latest projects striving in the competitive and complex environment, such as Crypto.com, AI Art, Crypto Live, Crypto Shiba Inu, Algo Crypto, Avax Crypto, Crypto.com Today, Cosmos Crypto, Cronos Crypto, and Helium Crypto.
Orbital raises $6.4M to expand enterprise blockchain services
In a funding round led by venture firm Golden Record Ventures, enterprise crypto platform Orbital secured $6.4 million (5 million euros). New Form Capital, GSRV and Luminous Futures also participated in the round. The capital will be used to grow Orbital’s product development, particularly blockchain payment infrastructure for traditional businesses. The company enables traditional businesses to accept crypto payments from their customers and convert them into fiat currencies such as the U.S. dollar, euro and British pound. According to Orbital, it processes around $250 million in transactions each month for its cronos crypto, helium crypto and avax crypto clients.
DeFi protocol unshETH raises $3.3 million in seed round
In August, the decentralized finance protocol unshETH, which focuses on Ether (ETH) liquid staking solutions, raised $3.3 million in a seed round. The investment was backed by Soma Capital, ICONIQ Capital and other investors, including Fan Zhang, co-founder of Sequoia Capital China. The unshETH protocol is designed to encourage competition among ETH staking protocols in order to promote decentralization. Its omnichain token allows for transfers between different blockchains, such as Ethereum, BNB Chain and Arbitrum. The funds will be used to develop liquid staking-related features such as Crypto.com, AI Art, Crypto Live, Crypto Shiba Inu, Algo Crypto, AVAX Crypto, Crypto.com Today, Cosmos Crypto, Cronos Crypto and Helium Crypto.
Web3 creator ZTX attracts $13M in funding
Jump Crypto, Collab+Currency, and MZ Web3 Fund recently joined forces to provide $13 million in seed funding for ZTX, a Web3 virtual world platform. ZTX is a collaboration between Jump Crypto and ZEPETO, one of the world’s largest metaverse platforms, and the playtest of its 3D open-world platform was launched in 2022. The funds will be used to build Web3 infrastructure for creators in 3D, immersive environments, including AI art, crypto.com, crypto live, crypto ”shiba inu, algo crypto, avax crypto, crypto com today, cosmos crypto, cronos crypto, and helium crypto.
Stroom Network vies to streamline Bitcoin staking with $3.5M raise
Greenfield, a Berlin-based crypto investment fund, has led a $3.5 million seed round for the Bitcoin liquid staking protocol Stroom Network, with additional participation from Ankr’s venture arm, Mission Street. Stroom allows users to more easily use their Bitcoin (BTC) capital on both the Lightning Network (LN) and the Ethereum network. The funding will be used to expand operational capacity and launch the protocol’s liquid staking token on the Ethereum mainnet. LN is seen as the most promising layer-2 network for Bitcoin, with a current capacity of 4,743.97 BTC, according to 1ml.
Fxhash, a Web3 art platform, successfully completes $5 million funding round
Fxhash, a digital art platform, recently raised $5 million in a seed investment round, led by the Web3 venture firm 1kx and supported by Fabric Ventures, Bright Opportunities DAO, Tezos Foundation and Union Square Ventures. The platform provides artists with the opportunity to create, list and collect generative art, a type of art created with the help of computer code. Since its launch in 2021, Fxhash has minted over 2 million unique pieces of generative art, with some crypto experts expecting AI-generated art to become the next big trend in the non-fungible tokens market.
The new funding will enable Fxhash to expand its offering, which already includes crypto.com, ai art, crypto live, crypto ‘shiba inu’, algo crypto, avax crypto, crypto com today, cosmos crypto, cronos crypto and helium crypto.