In the past week, cryptocurrency projects have attracted nearly $68 million in investments, showcasing significant interest in sectors like Web3, DeFi, GameFi, and blockchain infrastructure.
- Renzo secured $17 million for its liquid restaking protocol.
- Particle Network raised $15 million in a Series A funding round.
- Sonic, a Solana-based gaming network, received $12 million.
- Five projects did not disclose their investment amounts.
Investment Highlights from June 15 to June 22, 2024
In a remarkable demonstration of investor confidence, 17 cryptocurrency projects raised a total of $67.65 million between June 15 and June 22, 2024. The primary focus was on sectors such as Web3, decentralized finance (DeFi), GameFi, and blockchain infrastructure development.
Key Projects and Funding Details
Renzo emerged as a leading recipient, securing $17 million for its liquid restaking protocol through a two-stage investment round. Galaxy Ventures led the first stage, while the Nova Fund from BH Digital spearheaded the second. The additional capital will accelerate the project’s scaling efforts.
Particle Network, a modular blockchain developer, raised $15 million in a Series A funding round. The round was led by Spartan Group and Gumi Cryptos Capital, with notable participation from SevenX Ventures, Morningstar Ventures, and others. The team plans to launch its mainnet and PARTI token in Q3 2024.
Sonic, a gaming Layer 2 network based on Solana, attracted $12 million in a Series A round led by Bitkraft Ventures. Participants included Galaxy Interactive and Big Brain Holdings. Sonic aims to launch its mainnet and token in Q3 2024 and expand its team.
Additional Noteworthy Investments
Gudchain received $5 million from Morningstar Ventures, Manifold, SkyVision Capital, and Mechanism Capital. The startup aims to advance GameFi through parallelization technology.
Bondex, a Web3 alternative to LinkedIn, closed a $4 million round with key investors like Animoca Brands and Morningstar. The funds will enhance platform functionality and support the upcoming BDXN token launch on July 10, 2024.
ZKX, the first social DEX for perpetual contracts, secured $3.1 million. The strategic round included Dewhales, Global Coin Research, and Flowdesk. The capital will drive protocol development and new feature integration.
Wasabi, a futures trading platform for memecoins and NFTs, raised $3 million in a seed round led by Electric Capital. The funds will expand the team and enhance operational capabilities.
Zeek Network, a SocialFi platform, attracted $3 million from OKX Ventures, Animoca Brands, and others. The team announced new partnerships and a Genesis NFT collection.
Farcade, a gaming studio by Farworld Labs, completed a $1.75 million pre-seed round with Lemniscap, Variant, and Base Ecosystem Fund. The capital will aid in platform development and blockchain game integration.
EventCHI raised $1.7 million for its contactless payment and data analysis solution. The team is developing decentralized blockchain infrastructure for the events industry.
Bring, a Web3 cashback service, secured $1.1 million from StarkWare and private investor Uri Sigel. The funds will support further development and crypto reward distribution from 450 retailers.
Ordinox, a decentralized Bitcoin DeFi protocol, attracted $1 million in a pre-seed round. Investors included UTXO Management, Digital Asset Capital Management, and others. The funds highlight growing interest in Bitcoin-based DeFi solutions.
Undisclosed Investments
Several projects received undisclosed investment amounts. Artfi, an NFT art platform, secured funding to strengthen its market position. Binance Labs invested in a decentralized cross-chain exchange, while Router Protocol, a cross-chain protocol developer, also raised funds for its Ethereum and BNB Chain bridge services. Blockchain developer WEMIX invested in Elixir Games to accelerate digital transformation in gaming. Saltwater Games received funding from Animoca Brands for its XR token integration with Mocaverse.
This influx of investments highlights the increasing confidence in diverse cryptocurrency sectors, signaling robust growth and innovation in the blockchain landscape.
