September 18, 2024
Here is your Weekly wrap for the week ending September 14th, 2024 which saw disclosed crypto funding of $366m and 40 projects funded this week. The week saw a marked increase in investor activity which correlates to a 117% increase in funding from the previous week (of $168m) and a 66% increase in projects funded (from 24).
The most populous sectors which saw funding was in Web3, DeFI, Energy and AI projects.
Category | Project | Project Description | Money Raised this Round |
|---|---|---|---|
AI |
|
| 10,000,000 |
Decentralized AI Platform for Creators | Undisclosed | ||
World's first Open Platform for Personal AI | 10,000,000 | ||
DAO governed L0 Blockchain System | Unconfirmed | ||
Bitcoin |
|
| 16,750,000 |
Bitcoin DeFI ecosystem | 1,750,000 | ||
Bitcoin L2 | 15,000,000 | ||
Data Management |
|
| 20,600,000 |
ZK rollup for verifiable data & compute services | 4,000,000 | ||
SaaS blockchain fashion supply chain solution | 16,600,000 | ||
DeFi |
|
| 16,350,000 |
Decentralized Lending Exchange | 2,500,000 | ||
DEX integrated into the Telegram platform | Undisclosed | ||
DeFi Derivatives Protocol built on Base | Undisclosed | ||
A SOL DeFi platform | 600,000 | ||
Onchain Credit Trading Platform | Undisclosed | ||
| Abstraction layer for launching DeFI protocols | 6,000,000 | |
CeDeFi | 3,750,000 | ||
A SOL DEX | 3,500,000 | ||
DePIN |
|
| 3,500,000 |
DePIN flight-tracking network built on Solana | 3,500,000 | ||
Energy |
|
| 112,000,000 |
Milk, Sugar and Energy Producer in Argentina | 100,000,000 | ||
Decentralized Renewable Energy Network | 12,000,000 | ||
FinTech |
|
| 54,300,000 |
Software Services for Central Banks and FinTechs | Undisclosed | ||
Regulated market for blockchain securities | 9,300,000 | ||
JPY Tokenized Deposit Network | 45,000,000 | ||
Gaming |
|
| 16,550,000 |
Web3 Game Publisher | 5,350,000 | ||
Web3 Games Studio creating Castile on Aptos | 8,000,000 | ||
Trading Card Game | 2,000,000 | ||
Health |
|
| 1,200,000 |
Gamified Healthcare Platform | 1,200,000 | ||
Infrastructure |
|
| 4,100,000 |
Gas Savings Platform | 1,600,000 | ||
Ethereum Scaling Solution | 2,500,000 | ||
Music |
|
| 50,000,000 |
| Decentralized Music Streaming Platform | 50,000,000 | |
Real Estate |
|
| Undisclosed |
Blockchain Airbnb | Undisclosed | ||
Restaking |
|
| Undisclosed |
Isolated Liquid Restaking Service on Eigenlayer | Undisclosed | ||
Restaking Protocol on TON | Undisclosed | ||
RWA |
|
| 38,000,000 |
Tokenized RWA platform on Solana and Stellar | 38,000,000 | ||
tokenized RWA platform | Undisclosed | ||
Web3 |
|
| 24,000,000 |
Creator Web3 content distribution network | 8,000,000 | ||
Entertainment-focused L2 blockchain solution | 10,000,000 | ||
Web3 Platform for enterprises and institutions | 3,500,000 | ||
Building blockchain Interoperability on Polkadot | 2,500,000 | ||
Web3 forest verification platform | Undisclosed | ||
Task-2-E platform | Undisclosed | ||
Grand Total |
|
| 366,150,000 |
Web3
The decentralized world of Web3 is rapidly gaining traction, attracting significant investments across a range of projects. This week alone, seven pure Web3 initiatives collectively secured $24 million in funding, while two Gaming Web3 ventures raised an additional $13.5 million.
A common thread unites these diverse projects: a focus on empowering creators to own and control their content. This shift towards creator-centric platforms marks a significant departure from traditional Web2 models, where intermediaries often hold the majority of power and revenue.
DeFI
The decentralized finance (DeFi) landscape continues to heat up, with a flurry of projects securing funding across various blockchain networks. This week alone, eight DeFi initiatives collectively raised a disclosed $16.35 million, demonstrating the growing interest and investment in this innovative sector.
While the disclosed funding amount provides a snapshot of recent activity, it's important to note that three out of the eight projects did not reveal their exact funding figures. This suggests that the overall investment in DeFi may be even more substantial than the publicly disclosed numbers indicate.
Energy
The environmental impact of cryptocurrency mining, particularly the energy consumption associated with validating blocks, has been a subject of ongoing debate. Amidst these concerns, Tether, one of the largest stablecoin issuers, has made a surprising move: investing $100 million in an Argentinian milk, sugar, ethanol, and energy producer.
This strategic investment raises several questions about Tether's intentions and the potential implications for the cryptocurrency industry.
Conclusion
A wave of significant funding has swept through the Web3 ecosystem this week, signaling a potential shift in market dynamics. While Web3 projects have historically received lower levels of investment compared to more established categories like DeFi and AI, the recent surge in funding suggests that the industry is reaching a tipping point.
The diverse range of Web3 projects securing substantial investments is particularly noteworthy. From decentralized social media platforms to NFT marketplaces and gaming guilds, the growing variety of applications indicates a broadening of the Web3 landscape.
This suggests that real-world adoption of Web3 technologies may be on the horizon.
The increased funding amounts are another positive indicator. As Web3 projects secure larger sums of capital, they can invest more in development, marketing, and talent acquisition, accelerating their growth and reaching a wider audience.
This surge in Web3 funding could be a sign that the market is maturing and gaining the confidence of investors. As more successful Web3 projects emerge and demonstrate their value, it is likely that the industry will attract even greater attention and investment in the coming months and years.
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