The cryptocurrency market hasn't made any significant headway in recent months, but that hasn't stopped industry builders from building on. Non-fungible tokens (NFTs), crypto mortgages, blockchain-powered cellular networks, and Web3 games have piqued the interest of venture capitalists. These new and familiar investment themes headline the latest edition of the VC Roundup, as venture funds continue to target blockchain's most promising value plays.
a16z execs back a new NFT fund
Andreessen Horowitz's foray into the blockchain industry continued this month after a large segment of its investment team endorsed a new non-fungible token fund called Curated. The fund, which is worth $30 million, has the singular purpose of buying and holding NFT artwork. Among a16z executives, Marc Andreessen, Arianna Simpson, Chris Dixon, Andrew Chen and John Lai are all investors in the fund. according to TechCrunch. NFTs and traditional art are increasingly seen as stores of value in an inflationary environment. (Interestingly enough, a16z has been talking about NFTs since at least 2020, which is millions of years ago in the crypto industry.)
How are crypto markets and NFTs changing the game for creators? Listen to our questions and answers with artists @muratpak and @signgnasty for an introduction to the token-based creator economy: https://t.co/Lj42leSkfa
โ a16z (@a16z) November 22, 2020
Related: You don't have to be mad about NFTs
Crypto mortgage lender Milo receives $17 million
Milo, the crypto-focused fintech startup, has raised $17 million in Series A funding from venture firms M13, QED Investors, and MetaProp. Milo will use the funds to advance its suite of product offerings, which includes a 30-year warranty. crypto mortgage that allows users to present digital assets as collateral for their mortgage loans. Since its launch in January, Milo's 30-year mortgage has already received more than 7,400 applications. The company's first product, a mortgage solution for foreign nationals, processed $500 million in applications from more than 90 countries.
Crypto-Friendly Neobank Raises $77 Million
Scandinavian neobank Lunar plans to launch a new cryptocurrency platform and business-to-business service after raising $77 million at a $2 billion valuation. The cryptocurrency trading service will initially focus on just five assets: Bitcoin (BTC), ether (ETH), Cardan (THERE ARE), Moles (POINT) and Dogecoin (DOGE). The company's crypto gambit reflects a growing desire to cater to more consumer-oriented sectors in a region that has enjoyed considerable uptake in digital asset trading. According to Tech Crunch, Lunar is already lifting capital for its next funding round, which is expected to close in May.
FreedomFi closes a $9.5 million funding round
Crypto-enabled 5G developer FreedomFi has raised $9.5 million in funding to promote a Web3 platform that enables consumers to deploy small cell networks using digital assets. The Series A round was financed by Blueyard Capital, Qualcomm Ventures and Samsung Next. FreedomFi has already made inroads into the digital asset space, having partnered with the helium block chain in 2021 to promote broader adoption of cellular base stations at the consumer level.
Web3 Joyride platform raises $14 million
web3 games The Joyride Games platform recently closed a $14 million seed round that was funded by some of the largest blockchain venture funds, including BITKRAFT Ventures, SuperLayer, Coinbase Ventures, Animoca Brands, Dapper Labs, and Solana Ventures. The Joyride platform is primarily aimed at developers who want to create and launch blockchain-based esports and social games. The company said that it plans to launch the first batch of game projects on its platform in the near future.
Describe Web3 in 3 words.
โ Cointelegraph (@Cointelegraph) March 8, 2022
Related: VC Roundup: Web3 Infrastructure Developers Attract Big Investors
Crypto Unicorns Closes $26 Million Token Sale
Web3 game developer Laguna Games has completed a $26 million token sale for its Polygon-based NFT Crypto Unicorns collection. The biggest buyers included TCG, Backed VC, ACME Capital, BITKRAFT Ventures, Delphi Digital, Polygon Studios, and CoinFund, among others. Laguna Games said that all funds raised will be allocated to the Crypto Unicorns DAO Treasury, whose governance will be transferred to the community over time.
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