Tag: funding

Sports Metaverse company secures $200 million funding

Sports Metaverse startup LootMogul secured a $200 million investment commitment from Gem Global Yield, providing the company a share subscription facility of up to $200 million for a 36-month term following an equity exchange listing.  The company said that the funding is expected to boost the development of LootMogul’s metaverse focused on sports games, including “building meta (virtual) sports cities around the world with real-world benefits, brands & professional athletes on a true cross metaverse & blockchain (multichain) platform on multiple devices such as Oculus, HoloLens, Web, Mobile & Console,”…

Valkyrie Crypto Trusts Gather Nearly $74 Million In Funding Amid Bear Market

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An alternative investment company, Valkyrie, has added $73.6 million in capital into two crypto-focused trust funds. Valkyrie initially had $1.2 billion in assets under management at the end of the second quarter. This information is in amended filings with the United States Securities and Exchange Commission (SEC). Over the years, crypto investments and Decentralized finance have proven to be a great alternative to the traditional finance system. It could be because DeFi has a way to boycott the bureaucracy in the financial system. Decentralized Finance (DeFi) allows the use of…

Infinity Exchange Raises $4.2 Million Funding For Development of DeFi 2.0

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In an effort to increase institutional adoption of decentralized finance (DeFi), DeFi platform Infinity Exchange recently announced a $4.2 million seed investment. Infinity Exchange is run by former Morgan Stanley executive Kevin Lepsoe, who left the traditional finance space to focus his attention on the opportunities that DeFi offers to investors. The founder said that institutional investment is a vital part of developing DeFi 2.0 in its next iteration in order to lay strong economic frameworks. Lepsoe believes that having access to a full rates product suite and fixed-to-floating rates…

Ethereum Funding Rates Hit The Low Amid The Shift From PoW

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The Ethereum upgrade has shifted the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The Ethereum mainnet and the Beacon Chain will finally merge as a single blockchain through the transition. According to the estimations of EtherNodes, the Ethereum transition will occur if there are no underlying technical challenges. Before now, the team of developers confirmed the checklist for the Merge before releasing it. There have been several sentiments and reactions concerning the Merge lately. This significantly impacted ETH and all its derivatives in the crypto market. Some participants are accumulating…

Crypto Auditing Platform Sherlock Raises $4M in Funding

Crypto protocol audits typically include two to three auditors scouring the code over a few weeks. Sherlock, which sells its solutions directly to protocols, starts with one or two senior auditors taking a brief look at the code. Sherlock then hosts an auditing competition where entrants are financially rewarded for finding vulnerabilities. The auditors come from a list of people that Sherlock has worked with before, but approved auditors will eventually include the top contest performers, explained Sanford. Source

NFT creator Doodles raises $54M in funding at $704M valuation

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On Tuesday, nonfungible tokens (NFTs) collection Doodles announced that it had raised $54 million at a $704 million valuation in a funding round led by Seven Seven Six, with participation from 10T Holdings, Acrew Capital and FTX Ventures. As told by Doodles, the investment will allow it to scale its growth strategy and monetize its intellectual property globally through ventures in the music, culture and entertainment industries. Doodles is a collection of 10,000 NFTs co-founded by digital artist Burnt Toast and Web3 pioneers Evan Keast and Jordan Castro. Artistically, it…

Nigerian Blockchain Firm Bitmama Closes $2 Million Pre-Seed Funding Round

Bitmama, a blockchain startup based in Nigeria, announced that it has closed its pre-seed funding round at $2 million after it recently added $1.65 million to the $350,000 that it raised in October last year. Africa-focused venture capital firms Unicorn Growth Capital and Launch Africa led the investment in Bitmama. Other firms that also participated in the funding round include existing and new investors like Adaverse, Flori Ventures, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures, as well as angel investors, such as…

Bitcoin Holds Steady Above $21K; DeFi Platform Forward’s $5M Funding Round Highlights Crypto’s Growth in Thailand, but Regulation Lags

While noting bitcoin’s encouraging rebound from $18,500 earlier in the week, Joe DiPasquale, CEO of crypto asset manager BitBull Capital also said that such resurgences have not been unusual for cryptos during down markets. “While bulls will welcome this bounce, it is important to note how continued bearish price action has intermittent relief rallies, especially as short position holders take profit,” he said. Source

Aave devs look set to receive $16.3M via retroactive funding

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The DAO behind the decentralized finance (DeFi) platform Aave has accepted a proposal to reward members from Aave Companies with $16.28 million in retroactive funding for their role in the development of Aave Protocol V3. Voting for the proposal began on Sept. 6, and at the time of writing has already passed 667,000 votes in favor of the funding, more than doubling the 320,000 required. The vote is set to end on Sept. 8. According to the initial proposal, which was first pitched on Aug. 10, the Aave Request for…