Encryption Industry April Investment and Finance Report: GameFi is most popular with capital

Since April, the wealth effect of various sectors in the encryption market has also begun to weaken, and the market conditions are slightly deserted, but there are still new hot spots in the encryption market, and capital is still entering the market. From the investment and financing situation in April, it can be seen that GameFi, NFT infrastructure, and DeFi applications of the public chain ecology are still hot spots. GameFi has the most financing events, especially sports competitive games, P2E games and guilds are all capital favorites.

Regarding the investment and financing of the NFT sector, more is concentrated on NFT infrastructure, such as NFT lending, NFT casting platforms, and NFT trading facilities. There are not many investment and financing related to NFT projects. The financing of the DeFi sector is more concentrated on new applications, especially unsecured lending applications and cross-chain infrastructure in the lending track.

This issue of DeFi Honeycomb will sort out the investment and financing situation of GameFi, NFT infrastructure, and DeFi applications in the public chain.

Loan track

• Unsecured Lending Agreement Masa Finance

On May 4, Masa Finance, a decentralized lending protocol, completed a $3.5 million seed round of financing. Masa Finance will be built on the Celo and Ethereum public chains. The platform has two loan products: NFT mortgage loan and unsecured loan. NFT mortgage loan supports NFT assets as collateral for loans, and unsecured loan will be provided according to the user's DeFi credit score. Unsecured loan.

• Fixed rate lending agreement MYSO Finance

On April 29, the lending agreement MYSO Finance completed a $2.4 million seed round of financing, with participation from Huobi, Nexo, and HashKey. MYSO Finance aims to build a liquidation-free, fixed-rate lending platform.

• Mortgage lending platform Oasis.app

On April 15, DeFi lending platform Oasis.app completed a $6 million Series A round of financing, led by Libertus Capital, with participation from Road Capital and 1inch co-founder Sergej Kunz. Oasis.app is a decentralized lending platform embedded in MakerDAO, where users can pledge encrypted assets such as ETH, WBTC and LP as collateral to borrow the stable currency DAI .

• Peer-to-Peer Lending Protocol RociFi Labs

On April 12, RociFi Labs, a peer-to-peer lending protocol, completed a $2.7 million seed round of financing. RociFi aims to provide zero-collateralized loans by using borrowers' established DeFi positions to judge lenders' creditworthiness.

Cross-chain infrastructure

• Nomad, a cross-chain interoperability protocol

On April 13, Nomad, a cross-chain interoperability protocol, completed a $22 million seed round of financing led by Polychain. Nomad is a cross-chain communication protocol built with Optimistic Rollups verification technology, which enables instant transfer of assets across chains.

• One-stop cross-chain service platform Bridge Network

On April 7, Bridge Network completed a $3.8 million private placement round of financing, with participation from FTX Ventures and MEXC Global. Bridge Network aims to become a one-stop cross-chain service platform that not only supports cross-chain tokens, but also cross-chain NFT assets , and track the dynamics of multi-chain assets, realize one-stop multi-chain asset management, etc.

DEX and other DeFi application sectors

• Polkadot ecological cross-chain DEX Mangata

On April 28, Mangata announced the completion of financing of US$4.2 million at a valuation of US$60 million. Mangata is a cross-chain decentralized exchange in the Polkadot ecosystem.

• Amulet Protocol, a decentralized insurance protocol

On April 28, Amulet Protocol completed a $6 million seed round of financing, led by Gumi Cryptos Capital, with participation from Solana Ventures, DeFiance Capital, and Animoca Brands. Amulet Protocol is a decentralized insurance protocol for the Solana ecosystem.

• DeFi revenue management platform OndoFinance

On April 27, Ondo Finance, a revenue management platform, completed its Series A financing of US$20 million, led by Founders Fund and PanteraCapital, and participated by Coinbase Ventures and TigerGlobal. Ondo Finance is a decentralized income management platform that provides multi-level decentralized structure products with different risk levels, such as fixed income products and floating income products. Users can choose their own investment products according to their risk tolerance.

• Centralized trading infrastructure provider 0x Labs

On April 26, 0x Labs announced the completion of its $70 million Series B round of financing, led by Greylock Partners, with participation from Pantera, Jump Capital, and OpenSea. 0x Labs is a well-known provider of decentralized trading infrastructure, mainly providing trading systems, smart contracts, etc. for DEX. Representative products include the 0x protocol and the decentralized aggregation trading platform Matcha.

• Liquidity aggregator FLUID

On April 14, the liquidity aggregator FLUID completed a financing of US$10 million, led by GSR and 21Shares. FLUID provides users with low-slippage transactions by aggregating and dispersing liquidity.

• Volt Protocol, an anti-inflation stablecoin project

On April 12, Volt Protocol, an anti-inflation stablecoin agreement, completed a $2 million seed round of financing, led by Framework Ventures and Nascent, and participated by Fei Protocol and Rari Capital. Volt Protocol issued a token VOLT that tracks the Consumer Price Index (CPI). Every month, the target price of Volt will be updated according to changes in the inflation rate to ensure stable purchasing power. This stable currency is different from the previous stable algorithm. Currency is anchored to legal tender.

• Algorithmic Stablecoin Protocol TiTi Protocol

On April 11, the algorithmic stablecoin protocol TiTi Protocol completed a financing of US$3.5 million, led by Spartan Group. TiTi Protocol is a decentralized algorithmic stablecoin supported by multi-chain and multi-asset reserves.

• Liquidity pledge service provider RockX

On April 5, RockX, a liquidity staking service provider, completed its Series A financing of US$6 million, led by Amber Group. Around the original assets of the POS consensus mechanism block network, it is a service platform that improves the pledge income by releasing the liquidity of the pledged assets of the nodes.

Financing situation of the DeFi sector, image source: Hive Tech

• "Play To Earn" (P2E) Game GamerGains

On April 26, GamerGains, a P2E game in the Web2 world, completed a $5.8 million seed round of financing led by Cadenza Ventures. GamerGains is a earning game mainly developed for Internet users in the Solana ecosystem. It hopes to create a convenient and accessible entrance for traditional game players, so that ordinary people can integrate into Web3. Players use PCs and traditional game consoles without registering digital wallets. In-game encrypted asset rewards can be obtained.

• Star Wars Game Apeiron

On April 26, chain game Apeiron completed a $10 million seed round of financing, led by Hashed, with participation from DeFiance Capital. Apeiron is a card-based Star Wars game.

• Game Aggregation Platform ForthBox

On April 25th, the game aggregation platform ForthBox completed a seed round of financing of 1 million US dollars. ForthBox is a blockchain game aggregation platform and comprehensive service provider. Game manufacturers can issue NFT games on the platform with one click, and easily transform traditional games into chains. .

• Blockchain game platform OpenBlox

On April 22, chain game platform OpenBlox completed a $3 million seed round of financing led by Shima Capital. OpenBlox plans to launch three games as well as an NFT trading market.

• "Ride to Earn" cycling project BikeRush

On April 21, the Ride to Earn project BikeRush completed a financing of US$6.5 million, led by Negentropy Capital. BikeRush is a ride and earn sports game.

• P2E RPG Elumia

On April 14, P2E game Elumia completed a new round of financing, with an undisclosed amount, led by Alameda Research and Animoca Brands. Elumia games are role-playing games developed based on the Solana ecosystem.

• Battle Royale game Blast Royale

On April 13, NFT blockchain game Blast Royale completed a $5 million seed round of financing led by Animoca Brands and Mechanism Capital. Blast Royale is a battle royale game built on the Polygon chain. In this game, players use NFT items to equip their characters and participate in battle royale. It is called the blockchain version of PlayerUnknown's Battlegrounds.

• Panda Game Project Paladin Pandas

On April 13, the NFT game project Paladin Pandas completed $4 million in financing, with participation from Future Capital and others. Paladin Pandas is a social simulation game based on panda image NFT.

• Basketball game Swoops

On April 13, the NFT basketball game Swoops completed $3.5 million in financing, led by Courtside Ventures and Alpaca VC. Swoops is an NFT basketball game based on Polygon

• Civitas, a city-building blockchain game

On April 12, chain game Civitas completed a financing of US$20 million, led by DelphiDigital and Three Arrows Capital. Civitas is a community-driven, cooperative city-building game.

• Gaming community platform Iskra

On April 7, Iskra, a Web3 game community platform, completed a financing of US$34 million, led by Krust Universe. Iskra plans to be the web 3.0 gaming platform of choice for players and investors, while integrating sustainable token economy solutions for developers and creating new opportunities for gaming within the community.

• Blockchain football game GOALS

On April 5, the blockchain football game GOALS completed a $15 million seed round of financing, led by Northzone. GOALS is a multiplayer football competitive game developed based on NFT.

game guild

• YGG sub-DAO organizes YGG SEA

On April 27, YGG SEA, a subsidiary of the chain game association YGG, completed a financing of US$15 million, with participation from Animoca Brands and others. YGG SEA is the first sub-DAO organization (subDAO) of Yield Guild Games, mainly serving gamers and studios in the Southeast Asian community.

• YGG sub-DAO organization Ola GG

On April 26, Ola GG, a sub-DAO association of YGG, completed a seed round of financing of US$8 million. Ola GG is a regional sub-DAO association under YGG, mainly serving the United States, Latin America and other regions.

• Merit Circle

On April 13, Merit Circle, a chain game association, completed a new round of financing, led by Binance Labs. The specific amount was not disclosed.

• Ready Player DAO

On April 6, Ready Player DAO, a P2E game association, completed a financing of US$10.2 million, led by The Chernin Group. Ready Player Dao supports players to access games and earn assets such as Token or NFT by providing game players with renting game assets represented by NFT.

• Polemos

On April 5, the game guild Polemos completed a $1,400 seed round of financing led by Framework Ventures and Delphi Digital. Polemos is a P2E game guild focusing on NFT games. It plans to develop a GameFi learning management system, a decentralized guild asset trading platform, and a user analysis platform for educating, tracking, analyzing, and managing players.

Blockchain Game Development Company

• Double jump. tokyo

On April 27, Double jump.tokyo, a Japanese encryption game start-up company, completed a financing of 3 billion yen, led by Jump Crypto and Amber Group. The funds raised will be used to develop IP-based blockchain games. Double jump.tokyo is the developer of the popular crypto game "My Crypto Heroes". It’s a role-playing game where users can trade items and characters as NFT assets to earn cryptocurrency.

• Goons of Balatroon

On April 23, Goons of Balatroon, a blockchain game development company, completed a $2.46 million seed round of financing led by Merit Circle and Jun Capital. Goons of Balatroon has built a trading card game (TCG).

• Digital Insight Games

On April 8, blockchain game company Digital Insight Games completed $7.5 million in financing, led by Hivemind Capital and Griffin Gaming Partners. The funds are used to research and develop the application of Web 3 and blockchain technology in games.

• Blockchain game development team DEFY Labs

On April 8, chain game development team DEFY Labs completed a seed round of financing of US$3.5 million, led by Animoca Brands and others. DEFY Labs has developed an AR game called "DEFY". By assigning hacking tasks, players are encouraged to explore the physical environment with the help of augmented reality, and rewards are distributed to players in the form of encrypted assets and NFT.

• Axie Infinity Development Company Sky Mavis

On April 6, Axie Infinity chain game development company Sky Mavis completed a financing of US$150 million, led by Binance, to compensate users affected by the Ronin hacker attack.

Financing situation of the GameFi sector, image source: Honeycomb Tech

• Rivermen

On April 29, Ponlaii, the parent company of the metaverse project Rivermen, completed an angel round of financing of US$4.5 million, led by Mirana Ventures, and participated by SuperChain Capital and HashKey. Rivermen is a domestic NFT project, which created a metaverse game based on "Along the River at Qingming Festival".

• Metaverse Intermediate Plugin Reitio

On April 26, Reitio completed $4 million in financing. It is an intermediate plug-in for the metaverse, designed to allow users to easily create their own 3D assets in the metaverse.

• Metaverse one-stop platform Metakey

On April 26, the NFT project Metakey completed a financing of US$3.5 million at a valuation of US$50 million, led by Animoca Brands. Metakey is committed to achieving interoperability between different projects. Metakey NFT is equivalent to the pass of the metaverse world. Holding it, you are equivalent to owning different NFT assets in different metaverses.

• The Kingdom

On April 8, the metaverse project The Kingdom completed a financing of 3.6 million US dollars, and Alameda Research participated in the investment. In The Kingdom Metaverse, people can also visit shops, user housing, public buildings, and experience various digital experiences.

• Technology service company Improbable

On April 7, Metaverse technology company Improbable completed a $150 million funding round led by a16z and Softbank. Improbable is a metaverse technology company that mainly provides technology and business model design services for metaverse developers.

• NFT casting service platform CXIPLabs

On April 27, CXIP Labs, an NFT casting service platform, completed a seed round of financing of US$6.5 million. CXIP Labs is a protocol designed to solve common problems in NFT casting. The funds raised will be used to launch a A new suite of products that allow NFT creators to create new creations without extensive coding knowledge and make it easier for developers to bridge NFTs between blockchains.

• Moonbirds parent company PROOF

On April 26, PROOF, the parent company of the NFT project Moonbirds, completed a financing of US$10 million, and 776 Management participated in the investment. PROOF is the club of the owl NFT project Moonbirds, and is also a well-known podcast community in the NFT field.

• NFT lending platform Flowty

On April 22, Flowty, an NFT lending platform based on the Flow public chain, completed a financing of US$4.5 million, led by Greenfield One and Lattice Capital. Flowty is a peer-to-peer NFT lending platform that supports borrowers to mark the required loan amount, interest rate and term for their NFT on the Flowty market, waiting for the lender to match.

• Female Avatar NFT Series Boss Beauties

On April 21, the NFT series Boss Beauties completed a 4.4 million seed round of financing, led by Offline Ventures. Boss Beauty is an NFT project consisting of 10,000 unique collections of manga female avatars.

• NFT lending protocol MetaLend

On April 21, MetaLend, an NFT lending agreement, completed a $5 million seed round of financing led by Pantera Capital. MetaLend implements NFT asset lending in the form of a fund pool, that is, there is a lending pool for similar NFTs.

• NFT Portfolio Management Platform NFTBank

On April 21, the operator of NFTBank completed a round A financing of approximately US$12 million, led by Hashed. NFTBank is an NFT portfolio management platform that currently supports NFTs on the Ethereum and Polygon (formerly Matic) networks.

• Cricket NFT Platform Rario

On April 21, the cricket NFT platform Rario completed a financing of US$120 million, led by Dream Capital. Rario enables fans to engage as a community by minting digital collectibles of player cards, video moments and cricket artefacts into NFTs, allowing players to take ownership of the artwork of these great moments.

• Mintbase, a platform for NFT creation and sales

On April 19, Mintbase, the NEAR ecological NFT infrastructure, completed a US$12.5 million Series A financing, including a US$7.5 million strategic round of financing and a US$5 million funding plan supported by the NEAR Foundation. Mintbase is an NFT creation and sale platform built on Near.

• Fragmented NFT trading market Dank Bank

On April 2, Dank Bank completed a seed round of financing of over US$4.2 million, with the participation of the former Coinbase Chief Technology Officer. Dank Bank mainly focuses on tokenizing well-known NFT works in the form of fragments, lowering the participation threshold for players.

• Terra ecological NFT trading market OnePlanet

On April 1, OnePlanet, the Terra ecological NFT trading market, completed a financing of US$3.35 million, led by Hashed.

• Game NFT trading market Fractal

On April 2, Fractal, the Solana ecological game NFT market, completed a $35 million seed round of financing, led by Paradigm and Multicoin Capital. The NFT market based on the Solana ecological chain built by Fractal supports users to purchase, trade and hold any NFT used in blockchain games.

Financing situation of NFT sector, image source: Honeycomb Tech

• Creator Community SeeDAO

On April 29, SeeDAO announced that it had completed its Series A financing at a valuation of US$30 million at the end of January 2022. SeeDAO is a community of creators and an incubator of DAO. It collaborates in blockchain product research, demand research and product design in the form of a decentralized autonomous organization.

• DAO Collateralized Lending Protocol PorterFinance

On April 8, Porter Finance, a DAO mortgage lending agreement, completed a $5 million seed round of financing. Participating investors include ParaFi Capital, Dragonfly Capital, etc. Porter Finance supports some high-quality DAO organizations to use project tokens as collateral to obtain fixed-rate financing.