Cryptocurrency-focused projects continue to receive venture capital funds. Major investors have been investing in promising startups. Now they are even focusing on niche industries like nonfungible tokens, GameFi and metaverse. Following is a list of some major funding rounds of the last week.
NFT3 Raises $7.5 Million
Web 3 ID network NFT3 received a seed fund to develop credit network and decentralized identity platforms. Animoca Brands led this funding. Other companies part of this funding included CMS Holdings, LD Capital, Prometheus Ventures, DFG Group, Ankr Network and others.
Metaverse Fund Launched by Hartmann Capital
This company focused on crypto industry raised a $30 million fund for its metaverse project focused fund. It expects to receive new investments with the start of this funding. The Hartman Ventures for Metaverse will fund different metaverse projects to develop content, access points and infrastructure in this sector. Most of the funding will be in equity and early-stage token deals. Its NFT portfolio will pursue other investment opportunities.
$50 Million Raised by Arca
Arca manages crypto assets. It launched a hedge fund through which financial institutions can integrate NFTs seamlessly into their project portfolios. The Arca NFT Fund achieved $50 million market capitalization with oversubscribed raise. It has plans for NFT purchases to generate equity and yield. The new fund will be focused on digital collectibles, identity tokens, digital property and in-game assets.
$4.5 Million Raised by Hyperspace
This Solana NFT aggregator raised $4.5 million of seed fund from Coinbase Ventures, Galaxy Digital, Jump Capital, Solana Capital, Soma Capital and others. This fund will be used for improving in-house project development capacity, market efforts and product developments. Its aggregation platform helps users find and buy NFTs throughout the Solana ecosystem. They can trade and mint NFTs on Hyperspace itself.