Messari releases its Crypto Theses report for 2024

Edition #92 - 24 DEC 2023

Messari CEO Ryan Selkis shares his thoughts on the key differences between bitcoin & the broader crypto landscape in this year’s Crypto Theses.

Find the full report here.

gaming developments

• ​​​​PC arena shooter powered by a Web3 economy Farcana raised $10M in a Seed funding round from Animoca Brands, Polygon Ventures, Fenbushi Capital, Merit Circle, Rarestone Capital, MMPro Trust (Market Making Pro), Unpopular Ventures, Kapo Capital, Emchain, Hasu Capital, Dravus Investment.

• ​​Multi-layered MMA platform MetaFight closed Strategic funding round led by Animoca Brands. Amount raised is not disclosed.

•  ​MMORPG with NFT ownership MapleStory Universe raised $100M funding round led by Nexon.

metaverses & AI

• ​​​​​​​​​​​​​​​​​​​​​​​Company that launched OnChainMonkey NFTs and Osura marketplace Metagood raised $5M in a Seed funding round led by Sora Ventures, with participation from ACTAI Ventures, Bitcoin Frontier Fund, UTXO Management, London Real Ventures, Peach xyz.

• Metaverse firm Improbable sells gaming unit for almost $100 million.

defi

• ​​​​​​​​​​​​Decentralized internet sharing platform Wynd Network (Grass) raised $3.5M in a Seed funding round led by Polychain Capital, Tribe Capital, with participation from Bitscale Capital, Big Brain Holdings, Mozaik Capital.​​

• ​​Company offered secure blockchain "liquid vault" solution Fyde Treasury Protocol raised $3.2M in a Seed funding round led by OP Crypto, with participation from Arrington Capital, Big Brain Holdings, Merit Circle.

• ​​Decentralized platform for content monetization Formless raised $2.2M in a Pre-seed funding round from a16z Crypto Startup School (CSS), Beacon web3 accelerator, MH Ventures, Zypsy, WAGMI Ventures, vVv fund, Knights Capital, Contango Digital Assets, CRT Labs, Sandeep Nailwal, Dharmesh Shah, Dallas Austin.

• ​​Decentralized Lending Exchange Ammalgam closed funding round from Bodhi Ventures, Factor Ventures, BootNode, Marin Digital Ventures, Kain Warwick, Robert Leshner, Santiago R. Santos, Anton Bukov, Sergej Kunz, Tarun Chitra. Amount raised is not disclosed.

funding rounds

• ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Digital assets risk management infrastructure provider Andalusia Labs (ex Risk Harbor) raised $48M in a Series A funding round led by Lightspeed, with participation from Mubadala Capital, Pantera Capital, Framework Ventures, Bain Capital Ventures (BCV), Digital Currency Group (DCG), Coinbase Ventures, Proof Group, Nima Capital, Naval Ravikant, Paul Veradittakit, Santiago R. Santos, Anthony Pompliano.

• Programmable bank Pave Bank raised $5.20M in a Seed funding round led by 468 Capital, with participation from Quona Capital, FT Partners, BR Capital, w3 fund, Daedalus.

• ​​OrdFi-enabling protocol Trac Systems (Tap Protocol) raised $4.20M funding round led by Sora Ventures, with participation from Animoca Brands, RW3 Ventures, Cypher Capital, Oak Grove Ventures, Petrock Capital, Kosmos Ventures, NewTribe Capital, Cogitent Ventures, Compute Ventures, MSA Capital (MSA Novo), SkryLabs, Quantstamp, X ventures, Bluenode Capital, NxGen, Contango Digital Assets, Meow, Unicorn-Verse, LD Capital.

• ​​Banking-as-a-Service platform Fiat Republic raised $7M in a Seed funding round from Kraken Ventures, Fabric Ventures, Arca Fund, Inovo VC, Speedinvest, Credo Ventures, Seedcamp.

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