Cryptoday 11.17 | Privacy infrastructure Nym raises $13 million at a $270 million valuation, led by a16z
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Cryptoday 11.17 | Privacy infrastructure Nym raises $13 million at a $270 million valuation, led by a16z
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Funding Movements
Privacy Infrastructure Nym Raises $13M at $270M Valuation in A-Round Led by a16z
Privacy infrastructure project Nym has raised $13 million in its Series A round at a $270 million valuation, led by a16z with participation from DCG, Tayssir Capital, Huobi Ventures, HashKey, Fenbushi Capital, and others. Nym leverages blockchain to decentralize its mixnet (mix network), where nodes can earn token rewards for providing traffic and may inject decoy traffic packets when needed, making it difficult for others to decipher information flows. Nym’s CEO Harry Halpin previously worked with Tim Berners-Lee, inventor of the World Wide Web, before founding the company in 2018. Halpin believes Nym’s solution can counteract large-scale national surveillance, differentiating itself from tools like VPNs or Tor.
Metaverse Game PokeMine Completes First Round of $5M Funding
According to official announcements, metaverse game PokeMine completed a $5 million financing round on November 16. The funding was co-led by GMC, Blockchain Ventures, Hayek Capital, YIBI Exchange, YSLL Capital, HKD.COM, and NKCCapital. The new capital will support technical development and team expansion for international growth. PokeMine is a turn-based collectible card mobile game based on the Pokémon universe, allowing players to train their own creatures and customize appearances, deeply integrating playability with metaverse concepts.
BetDex Completes $21M Seed Round Led by FTX
On November 17, UK-based decentralized betting startup BetDex announced a $21 million seed round led by Paradigm and FTX. Founded by three former FanDuel executives—Nigel Eccles, Varun Sudhakar, and Stuart Tonner—BetDex combines blockchain technology with sports betting to build a global decentralized betting platform. This marks the largest seed investment ever secured by a UK startup. The funds, expected to launch in early 2022, will first be used to expand operations and hire staff at BetDex’s base in Scotland.
Metaverse Game OneRare Raises $2M in Funding
On November 17, food-themed metaverse game OneRare announced it has raised $2 million in funding. Investors include Arkstream Capital, Momentum 6, StableNode, Exnetwork Capital, Enjinstarter, Everse Capital, Kangaroo Capital, Tag Ventures, Maven Capital, 1010 Capital, CSP DAO, Skyman Ventures, FF Ventures, ZBS Capital, and Lucid Blue Ventures. OneRare aims to build a Foodverse where gourmets can grow ingredients, trade at farmers’ markets, or go to kitchens to prepare dishes. The Foodverse also features a playground where users can use their NFTs to compete in mini-games.
Web3 Startup CyberConnect Raises $10M in Seed Funding
On November 17, CyberConnect, a crypto startup building developer tools for Web3 social media, gaming, and metaverse applications, announced a $10 million seed round co-led by Multicoin Capital and Sky9 Capital, with participation from Animoca Brands, DraperDragon, Hashed, Zoo Capital, Smrti Lab, and Mask Network.
DeFi
dFuture V2 Officially Launches on Ethereum Layer 2 on November 17
On November 17, decentralized derivatives exchange dFuture officially launched its V2 upgrade on Ethereum Layer 2, marking its entry into the 2.0 era. The dFuture V2 version includes systematic upgrades across multiple areas including dividend mechanisms, trading mechanics, liquidity models, and economic systems. dFuture also officially released its Layer 2 platform token DFT, with a total supply of 140 million. Non-mining allocations account for 30%, including investors, team, airdrops, and community treasury; mining allocations make up 70%, covering trading mining rewards, liquidity mining rewards, and dual pool mining rewards. Meanwhile, dFuture has opened a dual pool on SushiSwap with the DFT/USDC trading pair. Users can first provide liquidity to obtain LP tokens, then stake those LP tokens on the dFuture platform for dual pool mining.
1inch Network Launches Phase 2 of DAO Governance and Deploys 1inch Treasury
On November 17, decentralized trading aggregator 1inch Network launched Phase 2 of its DAO governance, which will ultimately lead to full decentralization of both the 1inch Network and the 1INCH token, placing ownership and governance entirely in the hands of the DAO. Simultaneously, the 1inch Foundation deployed the 1inch Treasury for the DAO. At launch, all protocol revenue shifted from existing governance incentives into the Treasury. Additionally, the 1inch Foundation initially selected 12 multi-sig signers from core contributors and other projects, including Tornado Cash, Synthetix, Opium, NEAR Protocol, and zkSync.
DeFi Derivatives Project Injective Protocol Launches Mainnet
DeFi derivatives project Injective Protocol announced the launch of its mainnet along with a $120 million incentive program. At launch, Injective offers only five tradable assets: Bitcoin, Injective’s native token INJ, Wrapped Ethereum, Chainlink, and Axie Infinity.
NFT/GameFi
Proposal for Forte, BitDAO, and Alameda to Invest $500M in GameFi Incubator Game7 Passes
On November 17, a prior proposal for Forte to partner with BitDAO and Alameda to establish a $500 million GameFi incubator called Game7 has now passed on Snapshot. According to the original proposal, Forte will contribute $100 million while BitDAO will invest $400 million. In the initial ownership distribution, BitDAO holds between 69% and 79%, Forte between 9% and 19%, community partners up to 20%, and Mirana and Alameda Research each hold 1%. Game7 aims to accelerate blockchain adoption in the gaming industry, invest in blockchain gaming companies, and offer grant programs to foster an open-source ecosystem.
Coinbase NFT Marketplace Announces New Batch of Launch Creator Partners
On November 17, Coinbase NFT marketplace revealed a new batch of launch creator partners, including World of Women, VeeFriends, and artist DrifterShoots. Previously announced partners include MoonCats, GxngYxng, Forgotten Runes Wizard’s Cult creators, Michael Blau, MekaVerse, RTFKT Studios, Cool Cats, Trevor Jones, Amber Vittoria, and 0N1 Force.
Others
GetBlok SmartPool, Decentralized Mining Pool for Ergo Smart Contracts, Goes Live
According to official sources, GetBlok SmartPool, a decentralized smart contract mining pool for Ergo, has recently gone live. It is a fully decentralized (100%) mining pool. Ergo miners can pool resources via smart contracts to achieve stable and transparent payouts and membership tracking. So far, GetBlok SmartPool has raised 144.5 ERG through the crowdfunding platform Ergo Raffle to incentivize miner participation. Miners in the pool will receive rewards whether a block is successfully found or deemed invalid. Additionally, miners who successfully find a block will receive a bonus of 5 ERG.
Layer 2 Interoperability Protocol Connext Adds Support for Polkadot's Moonriver
On November 17, Layer 2 interoperability protocol Connext announced support for Moonriver, the canary network of Moonbeam. Moonriver is the first project within the Polkadot ecosystem supported by Connext. Prior to this, Connext had already launched on mainnet supporting cross-chain functionality for Ethereum, BSC, xDAI, Polygon, Fantom, Arbitrum, and Avalanche, enabling transfers of ETH, USDC, USDT, and DAI.
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