December 17, 2024
Here’s your Weekly Wrap of all things crypto funding, ending December 21, 2024.
This week’s crypto funding landscape witnessed notable investments across blockchain’s key verticals, signaling strong investor confidence and ongoing interest in decentralized technologies. The total disclosed funding amounted to $130.03 million across 18 projects, with DeFi, Social, and Real-World Asset (RWA) categories standing out. These sectors showcased blockchain’s expanding applications in digital finance, on-chain integration, and social networks.
Below is a summary of projects receiving funding this week:
Category | Organization Name | Project Description | Money Raised this Round |
AI | $7,400,000 | ||
Decentralized AI Training Platform | UNDISCLOSED | ||
Fraction AI | Offering High-Quality Training Data for AI with Web3 | $6,000,000 | |
Masa | Decentralized Network for Fair AI | UNDISCLOSED | |
XYRO | AI-powered Trading Platform | $1,400,000 | |
Bitcoin | UNDISCLOSED | ||
Bitdrome | The best place to farm and trade with your BTC assets | UNDISCLOSED | |
DeFi | $56,530,000 | ||
BVNK | Stablecoin Payments Platform | $50,000,000 | |
DuckChain | A TON Consumer Layer | $5,000,000 | |
StablR | Issuer of $EURR | UNDISCLOSED | |
Treehouse | Decentralized Fixed Income Layer | $30,000 | |
Valhalla | A Perpetuals Exchange on MegaETH | $1,500,000 | |
DePIN | $5,000,000 | ||
Dawn | Solana-based Decentralized Broadband | $2,500,000 | |
Silencio Network | DePIN using noise pollution data | $2,500,000 | |
DeSci | UNDISCLOSED | ||
PoSciDonDAO | A DeSci DAO funding personalized medicine research | UNDISCLOSED | |
Payments | $3,000,000 | ||
Juicyway | Offering Cross-Border Payments for Em Economies | $3,000,000 | |
RWA | $24,000,000 | ||
Kettle | An NFT marketplace for luxury watches | $4,000,000 | |
Plume | Bringing the real world on-chain | $20,000,000 | |
Social | $34,100,000 | ||
Lens | Ethereum network powering social and finance | $31,000,000 | |
Promeet | Creator of Tool to publish live | $3,100,000 | |
Grand Total | $130,030,000 |
DeFi
The DeFi sector emerged as the top category this week, raising an impressive $56.53 million across five projects. These investments highlight the continuous evolution of decentralized financial solutions and their role in expanding blockchain's accessibility and utility.
BVNK secured $50 million to enhance its stablecoin payments platform, marking one of the largest single raises this week. The company focuses on providing seamless fiat-to-stablecoin transactions for businesses, emphasizing scalability and compliance to meet the needs of global enterprises. This significant funding round underscores BVNK's potential to become a leader in the rapidly growing stablecoin market.
DuckChain, a TON consumer layer, raised $5 million to support the adoption and integration of The Open Network (TON) blockchain. This funding will help enhance TON’s ecosystem by providing businesses with tools for building scalable decentralized applications.
Valhalla, a perpetuals exchange on MegaETH, received $1.5 million to build a decentralized platform for perpetual trading. The project aims to cater to professional traders seeking secure and efficient ways to trade derivatives. Meanwhile, Treehouse secured $30,000 to develop its decentralized fixed-income layer, reflecting a niche but growing demand for fixed-income solutions within DeFi.
Social
The Social category demonstrated robust performance this week, raising a total of $34.1 million across two projects. These investments reflect blockchain's increasing integration with social networks and financial systems.
Lens, a decentralized Ethereum-based platform, led the category with a substantial $31 million raise. The project focuses on delivering a scalable, low-cost blockchain infrastructure to power decentralized social and financial applications. By enabling developers to build social applications with interoperability and cost-efficiency, Lens is positioning itself as a key player in the social blockchain space.
Promeet secured $3.1 million to develop tools for live publishing, targeting creators and professionals in need of decentralized content distribution platforms. This funding highlights the growing demand for decentralized solutions in the content creation industry.
RWA
The Real-World Asset (RWA) sector continued to gain traction, raising $24 million across two projects. This funding reflects the growing investor interest in tokenizing tangible assets and integrating them into blockchain ecosystems.
Plume, which raised $20 million, focuses on bringing real-world assets on-chain. Its platform enables businesses and institutions to tokenize physical assets, providing a bridge between traditional finance and blockchain. This substantial raise indicates increasing demand for real-world asset tokenization as blockchain adoption grows.
Kettle secured $4 million for its NFT marketplace dedicated to luxury watches. By combining high-end collectibles with blockchain technology, Kettle aims to cater to a niche but valuable market of watch collectors and investors. The project reflects the broader trend of using blockchain for provenance and secure transactions in the luxury goods market.
Conclusion
This week’s funding activity highlights the growing diversity and sustained investor interest within the blockchain ecosystem. The DeFi sector led the funding with $56.53 million, driven by BVNK's significant $50 million raise for its stablecoin payments platform. The Social category followed, securing $34.1 million, with Lens raising $31 million to advance decentralized social and financial applications. The Real-World Asset (RWA) sector also demonstrated strong performance, raising $24 million, with Plume contributing $20 million to bring real-world assets on-chain.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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