Last week, there were a total of 16 public financing events in the cryptocurrency market, and market sentiment has cooled | Investment and Financing Weekly Report

Organizer: Xiangxiang Xi, ChainCatcher

According to incomplete statistics from ChainCatcher, during the period from March 6 to March 12, 2023, there were a total of 16 public financing events in the blockchain and cryptocurrency industry, with a total financing amount of approximately $130.6 million. The number of financing events and the total amount have significantly declined compared to the previous two weeks, indicating a noticeable cooling in market sentiment.

From the distribution of sectors, infrastructure, gaming, and tools were the popular sectors last week. There were 2 infrastructure projects with a total financing of approximately $40.8 million; 3 gaming projects with a total financing of approximately $28.5 million; and 3 tool projects with a total financing of approximately $26 million.

In terms of financing rounds and scales, early-stage projects accounted for the largest proportion, with 9 financing rounds ranging from $1 million to $10 million, and 4 rounds belonging to seed financing. The three projects with the largest financing amounts are the Web3 super application Kresus ($25 million), the Web3 football game company Matchday ($21 million), and the token compensation and tax compliance solution Toku ($20 million).

(Last week's projects with financing amounts between $10 million and $100 million, data source: Rootdata)

I. Infrastructure

1. ZK solvency proof company Proven completes $15.8 million seed round financing, led by Framework Ventures

Proven, a company providing zero-knowledge proof technology to enable cryptocurrency companies to prove solvency, has completed a $15.8 million seed round financing, led by Framework Ventures, with participation from angel investors including Balaji Srinivasan, Roger Chen, and Ada Yeo.

Reportedly, Proven claims that its "solvency proof" allows companies to display assets and liabilities without needing to publicly disclose their balance sheets. (Source link)

2. Web3 super application Kresus completes $25 million Series A financing, led by Liberty City Ventures

According to The Block, serial entrepreneur and former U.S. Ambassador to Austria Trevor Traina has raised $25 million in Series A financing for his Web3 super application Kresus, led by Liberty City Ventures, with other investors including Franklin Templeton, JetBlue Ventures, and Salesforce's Marc Benioff.

It is reported that Kresus has not yet launched, and its website describes it as "Part Exchange, Part Wallet and Part Guide." (Source link)

II. Gaming

1. Web3 football game company Matchday completes $21 million seed round financing, Messi's fund participates

Web3 gaming interactive entertainment startup Matchday announced the completion of $21 million in seed round financing, with participation from Messi's fund Play Time.

Reportedly, Matchday combines Web3 and mobile gaming to create a FIFA-authorized football game. Matchday's Chief Gaming Officer Sebastien de Halleux expressed that true ownership is crucial for creating a range of new experiences for gamers and hopes to attract hundreds of millions of fans to Web3, with the first game expected to launch in the second quarter. (Source link)

2. Web3 game studio Redemption Games completes $7 million financing, led by Play Ventures

Web3 game studio Redemption Games announced the completion of a new round of financing totaling $7 million, led by Play Ventures, with participation from Bitkraft, Merit Circle DAO, Orange DAO, and several industry professionals.

Reportedly, Redemption Games is an independent studio spun off from mobile game development giant AppLovin and is currently developing games that leverage blockchain technology, digital collectibles, and AI solutions for mass market appeal, incorporating Web3 elements such as digital assets into the games. (Source link)

III. Tools

1. Crypto payroll compliance company Toku completes $20 million financing, with participation from Blockchain Capital and others

According to Fortune magazine, crypto payroll compliance company Toku has completed a $20 million first round of financing, with investors including Blockchain Capital, GMJP, OrangeDAO, Reverie, Quantstamp, and Next Web Capital, as well as angel investors like Protocol Labs founder Juan Benet and Cameron and Tyler Winklevoss.

Reportedly, Toku aims to help crypto companies handle tax-related work for token-based payroll, claiming to have created a system to track crypto-related tax laws and regulations in dozens of countries, currently serving 30 clients, including Filecoin Foundation, Gitcoin, Gnosis, Hedera Hashgraph, and PleasrDAO. (Source link)

2. TON native Launchpad platform Tonstarter completes $1.5 million seed round financing, with participation from DWF Labs and others

TON native Launchpad platform Tonstarter has completed $1.5 million in seed round financing, with participation from Kingsway Capital, Gate.io, and DWF Labs.

Reportedly, Tonstarter is a platform that enables projects to raise funds and build communities, incubated by First Stage Labs, a venture capital firm within the TON ecosystem. (Source link)

3. Bitcoin investment app Relai completes $4.5 million financing, led by ego death capital

According to Tech EU, Bitcoin investment app Relai announced the completion of $4.5 million in financing, led by ego death capital, with participation from Timechain, Cabrit Capital, Lightning Ventures, Redalpine, and Fulgur Ventures. Since its initial seed round financing in 2020, Relai has raised a total of $11.8 million.

Reportedly, the Relai platform allows retail investors to buy and sell Bitcoin without additional registration or verification, and there are no deposit limits. The platform also enables investors to fully control their funds through non-custodial Bitcoin wallets. Relai plans to use the new funds to upgrade to the Bitcoin Lightning Network and launch white-label products. (Source link)

IV. DeFi

1. Decentralized exchange Mauve completes $15 million financing, with participation from Coinbase Ventures and others

Decentralized exchange Mauve announced the completion of $15 million in financing, with participation from Brevan Howard, Coinbase Ventures, BlueYard Capital, Balderton, Ethereal Ventures, and FinTech Collective.

Reportedly, Mauve offers secure self-custody and modular design, along with all the strict compliance checks of traditional banks and brokerage firms. Mauve will not only include traditional "know your customer" tools but also security features such as geofencing that will prohibit users from sanctioned countries from using the platform.

Additionally, Mauve will offer trading of assets such as stablecoins and Ethereum, but the range of available assets will be determined by the customer's nationality. (Source link)

V. NFT

1. Solana ecosystem NFT trading platform Tensor completes $3 million financing, led by Placeholder

Solana ecosystem NFT trading platform Tensor has completed $3 million in financing, led by Placeholder, with participation from Solana Ventures, Alliance DAO, Big Brain Holdings, and Solana co-founders Anatoly Yakovenko and Raj Gokal.

Reportedly, Tensor won two Solana hackathons in 2022, earning approximately $60,000 to $70,000 in prizes. (Source link)

2. NFT trading market Coresky completes $6 million Pre-Seed round financing

According to Bitcoin.com, community-based NFT trading market Coresky announced the completion of $6 million in Pre-Seed round financing, led by PAYSON LEE PRIVATE FOUNDATION.

Reportedly, Coresky has designed a new business model that drives NFT trading through Launchpad economic utility. Users trading NFTs in the Coresky Marketplace can earn "Tickets," which can then be used to withdraw NFT packages from the primary market provided by the Launchpad. Coresky will design a community membership system based on users' on-chain trading behavior, with each tier having its own Corecard identity, and different levels of Corecards will receive varying amounts of platform Tickets regularly. (Source link)

VI. Social

1. Web3 email solution EtherMail completes $4 million financing, led by Draper Associates

Web3 email solution EtherMail has completed $4 million in Pre-A round financing, led by Draper Associates, with participation from MS&AD Ventures.

EtherMail was established in 2021 and aims to build a Web3 email solution for wallet-to-wallet communication. Additionally, according to crypto data platform RootData, EtherMail completed $3.3 million in seed round financing last August, with participation from Greenfield Capital and Fabric Ventures. (Source link)

VII. CeFi

1. Stablecoin issuer ECSA completes $3 million Pre-seed round financing, with participation from Y Combinator and others

Brazil-based stablecoin issuer ECSA has completed $3 million in Pre-seed round financing, with participation from Y Combinator, Arca, and others.

Reportedly, ECSA will first issue a Brazilian real stablecoin on the blockchain. Its BRLe stablecoin is backed by Brazilian treasury bonds and held by Brazil's largest private bank, Itau-Unibanco. BRLe has been issued on the Stellar network and will also be issued on the Ethereum mainnet. (Source link)