In August, which Web3 projects are top crypto VCs betting on?
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In August, which Web3 projects are top crypto VCs betting on?
We are in an exciting era, witnessing the future being built from scratch.
Navigating Web3 tides with focused insightsWritten by: Covduk
Compiled by: TechFlow
Venture capital firms have deployed billions of dollars betting on the next generation of Web3. Understanding their investments can help you identify the next hot areas—below are projects backed by top investors (including a database of recent funding rounds and investments).
Satellite.im
A decentralized chat platform that raised a $10.5M seed round led by Multicoin and Framework.
Problems with current messaging platforms:
1. Data tracking and theft
2. Lack of Web3-native platforms
Data leaks, theft, quality limitations, censorship—the list goes on.
Satellite is a decentralized, Web3-based messaging platform with strong emphasis on security and privacy. Messages are fully encrypted and do not rely on centralized servers. This means your data isn't stored anywhere, and no one—including Satellite—can access it.
Core Features:
• Strong focus on security
• Open-source: users can build on top of it and create custom bots
• High-quality video and audio: 4K streaming, sending 246MB files, and 4GB of free storage
• Web3-native: decentralized and trustless
My Thoughts
We’re all waiting for better messaging platforms. I like projects that solve real problems—mass crypto adoption will come from solving these issues. The team seems solid, and based on what I’ve seen so far, it’s promising.
Datawisp
No-code data analytics platform that raised $3.6M in seed funding led by CoinFund.
Data is an incredibly powerful tool. But accessing, using, and interpreting data requires specialized knowledge that most people lack. Datawisp aims to make data—from both Web2 and Web3—more accessible.
Datawisp is a no-code data platform that allows users to use and visualize data without any technical expertise.
How It Works:
- Import your data sources
- Customize and visualize them using simple blocks
- Set KPIs and let Datawisp make the data useful for you
My Thoughts
There's a massive amount of data in Web3, but much of it is:
- Hard to understand
- Locked behind technical barriers
Suddenly, a no-code application building platform appears, breaking down these technical barriers and bringing value to the ecosystem. For these reasons, I believe it has strong potential for success.
Gunzilla Games
AAA-tier battle royale game with in-game items as NFTs. Raised $46M led by Republic Cap.
Video games naturally synergize with NFTs and crypto. However, most current games:
- Focus more on P2E than gameplay
- Look extremely boring
Gunzilla Games is a studio developing "Off the Grid," a cyberpunk-themed battle royale game. Core gameplay will involve crafting, customizing, and trading in-game item NFTs. Regardless of how the final product turns out, at least the trailer looks impressive.
My Thoughts
Web3 gaming is undoubtedly the next big narrative that will make waves. Yet, most gamers today dislike NFTs and crypto games—overcoming this bias will be challenging. The key may lie in delivering genuine fun and seamlessly integrating NFTs into gameplay. Additionally, while the battle royale genre is already saturated, combining it with NFTs might offer a compelling edge.
DebtDAO
Provides funding for DAOs and protocols, raising $3.5M in a round led by Dragonfly.
Debt can be a powerful financing tool. But DAOs and protocols rarely use debt due to limited options:
- Overcollateralized loans require significant capital
- Undercollateralized loans require KYC
DebtDAO offers trustless, revenue-based financing, initially focusing on DAOs and protocols with on-chain revenue capabilities.
How It Works:
1. Their Spigot contract secures a portion of the borrower’s on-chain cash flow, which cannot be altered by the borrower
2. A portion of income is escrowed
3. Interest and principal are automatically repaid from the escrowed revenue
My Thoughts
DAOs are struggling: coordinating work among thousands of people in a decentralized way is difficult. To make them functional, we need better tools and infrastructure. Giving revenue-generating DAOs a financing option without requiring token sales would support sustainable growth.
CreatorDAO
Invests in and supports creators, raising $20M in a seed round led by A16z.
A 9-year-old child earned $200 million in 2019 playing with toys on YouTube. We've seen explosive growth in creators, platforms, and money in this space—the nature of work is changing.
CreatorDAO aims to be the Y Combinator for creators:
- Enables members to invest in creators
- Provides creators with mentorship and support from top creators
- Serves as a community where creators can connect, get help, and support each other
My Thoughts
Investing in creators differs from traditional venture capital. For many, access to mentorship, support, and a strong community matters more than capital alone. This DAO structure is interesting because it addresses forms of support that other “invest in people” platforms often overlook. Advancing the creator economy, crypto has strong synergy with creators. If executed well, it could significantly boost the creator economy. As someone who’s both a crypto creator and former VC professional, this is truly exciting.
MetaStable
Dragonfly acquired MetaStable, one of the oldest cryptocurrency funds founded by Naval in 2014. It manages over $400M in assets and was an early investor in Ethereum, Cosmos, and StarkWare.
This is major news. Dragonfly’s acquisition allows MetaStable to scale its investment operations significantly.
"Is crypto dead?" Not at all. Despite the ongoing bear market and endless collapses, investors still hold billions in capital. Builders continue building. A new wave of solutions and projects is emerging. We're in an exciting era, witnessing the future being built from the ground up.
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