These 2 altcoins have raised $8 million, one of which is 7 and the other is 1 million, from an investment round led by major companies. As Kriptokoin.com, we have compiled for you the companies that receive investments and the amount they receive.
This altcoin has raised seven million dollars
The crypto industry is trying to continue its expansion with new projects and cryptocurrencies. Especially in the last year, millions of dollars of funds have been provided by companies to many crypto money projects. The number of crypto projects receiving support is increasing.
Finally, among the investment recipients, Alkimiya has seen strong support in its journey to build decentralized capital markets for blockspace. However, this altcoin has raised 1kx and $7.2 million from an investment round led by Castle Island Ventures.
Dragonfly, Circle Ventures and Coinbase Ventures are among the companies that participated in the investment tour, in which Alkimiya collected $7.2 million. Alkimiya was founded by Zhang. The company targets hedging solutions for miners, staking and validators. Zhang said in his statements:
“Traditional commodity companies such as oil or gold companies use futures and options to hedge against production risks. The problem with Blockspace manufacturers is that they can hedge against the price of BTC or ETH, but they don’t actually know how much BTC or ETH to hedge.”
Venom foundation announces one billion dollar web3 fund
Layer-1 blockchain Venom Foundation has joined forces with investment manager Iceberg Capital, and the duo has announced a $1 billion venture fund to support promising web3 companies solving real-world problems.
Dubbed the Venom Ventures Fund (VVF), the blockchain-agnostic fund will focus largely on startups related to payments, asset management, DeFi, banking services, and blockchain gaming. Developers and builders working on innovative web3 projects are encouraged to apply through the VVF website.
Both the Venom Foundation and Iceberg Capital are regulated by the Abu Dhabi Global Market (ADGM) and the latter is the first registered crypto institution in the market. The fund will invest in projects and teams from pre-seed to Series A rounds with former BlackRock CIO Peter Knez and serial MENA investor Mustafa Kheriba tasked with identifying initiatives that can accelerate web3 adoption while delivering meaningful returns for investors.
The new partners spent little time researching the industry for projects that needed their financial strength. Its initial commitment was in December in Numi Metaverse’s highly sought-after $20 million funding round. The creator-friendly platform will launch several products this year, including a mini-game experience (Visual Novel) and an all-encompassing VR metaverse.
Web3 Whales
Although there are several other treasure chests available to talented developers, ten-figure web3 funds are not the norm. For example, Animoca Brands’ fund Animoca Capital is valued at $1 billion, while venture capital giant Andreessen Horowitz (a16z) has built a $4.5 billion war chest. But Venom Ventures Fund is notable for the regulatory green light its creators received from Abu Dhabi Global Market, an international financial hub located on Al Maryah Island in the UAE capital.
According to a recent report by Chainalysis, the MENA region and North Africa were the fastest growing markets for crypto adoption last year. Interestingly, the UAE Central Bank has recently signed a CBDC pilot for cross-border payments, this news will not go unnoticed by Venom, a blockchain with ambitions to be a bridge for CBDCs adoption in the Middle East.
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