For the crypto market, 2022 has been disappointing so far. Accordingly, there has been a decrease in investments in Web 3.0 coin projects. However, most projects continue to move forward and attract investment. The project that received the most investment in the crypto summer period with $ 200 million was Limit Break. Aptos Labs followed with $150 million.
Limit Break, the most funded Web 3.0 coin project
Limit Break plans to bring Web3 components to the ‘free-to-play’ gaming ecosystem. Free-to-play games do not require players to pay any upfront fees to play. It is possible for developers to monetize such games by using ads or selling additional game features.
The firm’s view of free-to-play game ecosystems is what’s called “free to own”. This is an ecosystem where users can generate Non Fungible Tokens (NFTs) without paying any fees. It is possible to create Genesis NFTs, other NFTs using airdrops or other tools. Also, none of these methods include tactics used to support fundraising.
The latest rounds of funding for Limit Break came amid a bear market in the cryptocurrency industry. They also show increasing interest in blockchain-based mobile gaming ecosystems. NFTs and the blockchain gaming industry have been a favorite with venture capitalists this year. These platforms generated nearly $500 million in funding, the second highest after infrastructure.
In second place is Aptos Labs with $150 million.
Layer-1 Blockchain Aptos Labs has a team of former employees of Facebook’s parent company Meta Platforms. The Web 3.0 coin has raised $150 million in a Series A funding round led by FTX Ventures and Jump Crypto.
Meta’s crypto arm Diem officially shut down its stablecoin project in January due to intense regulatory scrutiny. In February, Aptos Labs announced plans to bring the Diem Blockchain back to life. In addition, Aptos Labs has raised $350 million this year to use its technology and programming language Move.
Web 3.0 coin project Magic Eden receives $130 million in funding
Magic Eden is Solana’s leading NFT marketplace. The project raised $130 million in a Series B funding round led by Electric Capital and Greylock on June 21. Magic Eden said in a press release that it plans to use the funds to expand its primary and secondary markets and explore “multi-chain opportunities.”
“We know NFTs are the best way to bring people to Blockchain,” said Jack Lu, CEO of Magic Eden. The project is the current king of the Solana NFT community, managing over 90% of the ecosystem volume and gaining momentum in recent months.
Gnosis Safe managed to get $100 million in funding.
Digital asset management platform Gnosis Safe has raised $100 million from investors including 1kx, Coinbase Ventures, Tiger Global, Lightspeed and Digital Currency Group. Gnosis Safe has renamed itself Safe after a community vote to leave Ethereum infrastructure builder Gnosis.
Safe’s goal is to provide individual and institutional investors with the storage of Web3 applications through its platform that provides management of digital assets, data and identities. It uses smart contracts to provide recovery mechanisms and authentications using multiple private keys. This addresses the risk of complete loss of assets should a private key be lost, which could hinder Web3 adoption.
Latest Web 3.0 coin project Unstoppable Domains raises $65 million
Unstoppable Domains, the identity service provider of Web3 coin projects, has received $65 million in funding from Pantera Capital. Also in attendance were Polygon, CoinDCX, and CoinGecko. The fund gives the firm ‘unicorn’ status with a valuation of $1 billion or more.
Unstoppable Domains provides domains in NFT format to give users a digital identity suitable for 150 different Web3 coin applications. One advantage of this will be to replace long crypto wallet addresses, making them more user-friendly. Do not forget to follow Kriptokoin.com for the most up-to-date and accurate news in the crypto market.
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