From digital art to mortgages, blockchain technology is disrupting traditional industries — and attracting major investors as well.
The cryptocurrency market has did not build important headway in recent months, however that hasn’t stopped the industry’s builders from building. Nonfungible tokens (NFTs), crypto mortgages, blockchain-powered cellular networks and Web3 diversion have all piqued the interest of venture capitalists. These new and familiar investment themes headline the latest edition of VC Roundup, as venture funds still target blockchain’s most promising worth plays.
a16z execs back new NFT fund
Andreessen Horowitz’s invade the blockchain business continued this month once a large phase of its investment team backed a brand new nonfungible token fund known as Curated. The fund, that is price $30 million, has the singular purpose of buying and holding NFT design. Among the a16z brass, brandy Andreessen, Arianna Simpson, Chris Dixon, Andrew Chen and John Lai are all investors within the fund, per school Crunch. NFTs and ancient art are progressively being viewed as stores of import in an inflationary surroundings. (Interestingly, a16z has been talking concerning NFTs since a minimum of 2020, that is eons past within the crypto business.)
Crypto mortgage lender Milo receives $17M
Crypto-focused fintech startup milo has raised $17 million in series A funding from venture firms M13, qed Investors and MetaProp. milo can use the funding to advance its suite of product offerings, which includes a 30-year crypto mortgage that enables users to place up digital assets as collateral for his or her home loans. Since launching in Jan, Milo’s 30-year mortgage has already received over 7,400 applications. The company’s 1st product — a mortgage solution for foreign nationals — processed $500 million in applications from over ninety countries.
Crypto-friendly neobank raises $77M
Crypto-friendly 5G developer FreedomFi has raised $9.5 million in funding to advance a Web3 platform that permits customers to crowdsource deployments of tiny cell networks victimisation digital assets. The Series A round was supported by Blueyard Capital, Qualcomm Ventures and Samsung Next. FreedomFi has already created inroads into the digital plus house, having partnered with the helium blockchain in 2021 to advance wider adoption of cellular base stations at the buyer level.
FreedomFi closes $9.5M funding round
Crypto-friendly 5G developer FreedomFi has raised $9.5 million in funding to advance a Web3 platform that enables shoppers to crowdsource deployments of tiny cell networks victimisation digital assets. The Series A spherical was supported by Blueyard Capital, Qualcomm Ventures and Samsung Next. FreedomFi has already created inroads into the digital asset space, having partnered with the helium blockchain in 2021 to advance wider adoption of cellular base stations at the consumer level.
Web3 platform Joyride raises $14M
Web3 gaming platform Joyride Games recently closed a $14 million seed round that was supported by a number of blockchain’s biggest venture funds, including BITKRAFT Ventures, SuperLayer, Coinbase Ventures, Animoca Brands, dapper Labs and Solana Ventures. The Joyride platform is especially geared towards developers who need to make and launch blockchain-powered esports and social games. the corporate said that it plans to launch the primary batch of gaming comes on its platform within the close to future.
( Sam Bourgi, Cointelegraph, 2022 )