The Web3 space still attracts funds despite the setbacks the industry has faced and is facing. Here’s a list of private funding rounds you should know about according to ICO Analytics.
Worldcoin
Worldcoin is a new cryptocurrency that uses a unique iris-scanning technology to distribute tokens to people around the world. The project is backed by Sam Altman, the CEO of OpenAI, and aims to create a global identity and financial network for everyone.
Worldcoin is still in its early stages, but it has the potential to revolutionize the way we think about identity and money. By using iris scans to verify people’s identities, Worldcoin can help to create a more secure and inclusive financial system. Worldcoin raised $115 million sponsored by Blockchain Capital, a16z, Bain Capital, and Distributed Global.
Magic
Magic is a company that provides a passwordless authentication solution for developers. Magic’s solution uses magic links, which are one-time links that are sent to users’ email addresses. When a user clicks on a magic link, they are automatically logged into the application without having to enter a password.
Magic’s solution is designed to be more secure and convenient than traditional password-based authentication. Magic links are more secure because they are not stored on the user’s device, and they are more convenient because users do not have to remember passwords.
PayPal Ventures led Magic’s $52 million private round, with other investors such as Cherubic, Synchrony, KX, Northzone, and Volt Capital.
Anoma
Anoma is a decentralized protocol for composable privacy, decentralized counterparty discovery, solving, and atomic multi-chain settlement. The proof of stake protocol allows private bartering between users and institutions.
It raised $25 million during a private round in May, with CMCC Global, Electric Capital, Bixin, Anagram, Spartan, and others.
Transak
Transak is a fiat on-ramp and off-ramp infrastructure provider for Web3 and crypto apps. It allows users to buy, sell, and exchange cryptocurrencies with fiat currencies using a variety of payment methods, including credit cards, debit cards, and bank transfers.
Transak was founded in 2018, and its headquarters is in Miami, United States. In May, Transak raised $20 million in a funding round that included Animoca Brands, Signum Capital, IOSG ventures, and more.
Fusionist
Fusionist is a blockchain gaming company that is developing a new generation of games that are more immersive, engaging, and rewarding than ever before. Fusionist is led by a team of experienced gaming and blockchain professionals who are passionate about creating the next generation of blockchain games, and a massive community on Twitter of over 800,000.
It is currently supported by Ethereum and BSC Chain. The mainnet, Endurance, was launched in January 2023, and last month, it raised $6.6 million from Binance Labs and Funplus.
De Game
DeGame is a decentralized gaming platform that allows users to play, earn, and create games. Launched in October 2021, Degame has already listed more than 3000 GameFi projects and become the most comprehensive GameFi projects’ prices and data aggregator.
DeGame wants to implement proof-of-contribution (PoC) as a solution to the problem of identifying and paying contributors. It will provide a PoC tool and a PoC-based contribution algorithm for users and communities to construct permissionless PoC communities for GameFi projects, guilds, NFTs, protocols, DAOs, and other blockchain initiatives.
DeGame raised $6.5 million in May from A&T Capital, Bixin, Hach VC, Hashkey Capital, Kenetic, NGC Ventures, FBG Capital, and others.
Tanssi
Tanssi Network is a decentralized protocol for building appchains on top of the Polkadot blockchain. Appchains are independent blockchains that can be used to build a wide variety of applications, including games, DeFi protocols, and NFT marketplaces. It is developed by Moondance Labs.
In a private round involving Borderless Capital, Hashkey Capital, hypersphere, Arrington Capital, and others, Tanssi raised $3 million.
Fast Lane
FastLane is a hybrid MEV protocol designed to reduce transaction spam and improve network health by monetizing propagation bottlenecks in the peer-to-peer layer of the Polygon blockchain and distributing the proceeds to participating validators.
Fast Lane got $2.3 million from Polygon, Multicoin Capital, and Shima Capital at a private round last month.
zkMe
zkMe is a decentralized Web3 credential network that leverages the power of zero-knowledge proofs to enable secure and private credential issuance and verification.
Zero-knowledge proofs (ZKPs) are a cryptographic technique that allows two parties to prove something to each other without revealing any of the underlying information.
This makes ZKPs ideal for applications that require secure and private data exchange, such as credential issuance and verification.
To support the development of zkMe, the company raised $2 million from Circle, Spartan, CMS, Fenbushi Capital, Ark Stream Capital, and others in May.
Prisma
Prisma is a DeFi protocol that is designed to leverage the potential of Ethereum liquid staking tokens. Users can use Prisma to mint a stablecoin (acUSD) collateralized by Ethereum Liquid Staking tokens, which provide more capital and reward for users via trading fees and incentives. The amount raised from its round that involved OKX Ventures, Frax, and Impossible Finance is still unknown.
Read also;
Top 20 most popular cryptos on Twitter in May 2023
Top 10 crypto exchanges by traffic in May 2023
