Cryptoday 12.10 | GameFi infrastructure and trading platform L2Y raises $3.7 million
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Cryptoday 12.10 | GameFi infrastructure and trading platform L2Y raises $3.7 million
If all of humanity's abundant energy were concentrated in a single skull, if the entire world's intellect were confined to one person's mind, such a state, if sustained, would spell the end of civilization.
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If all of humanity's abundant energy were concentrated in one person's head, and the entire world were condensed into a single mind, such a state, if sustained, would mark the end of civilization.
— Victor Hugo
Funding Updates
Inrupt raises $30 million, led by Forte Ventures
On December 10, sources reported that Tim Berners-Lee’s startup Inrupt raised approximately $30 million in its Series A round. Forte Ventures led the new funding round but declined to disclose the exact amount. The round included participation from “all existing investors,” including Akamai Technologies and Glasswing Ventures, as well as new investors Allstate and Minderoo Foundation’s Frontier Technology Initiative. Founded by Berners-Lee, creator of web standards, and tech expert John Bruce, Inrupt aims to “reshape the internet” by building a platform that allows users to control their own data.
Router Protocol secures $4.1 million in cross-chain infrastructure funding, led by Coinbase Ventures
On December 10, cross-chain infrastructure startup Router Protocol announced a $4.1 million funding round led by Coinbase Ventures, Woodstock Fund, QCP Capital, Alameda Research, De-Fi Capital, Polygon, Wintermute, Shima Capital, TeraSurge Capital, Maple Block, and Bison Fund. Router also revealed partnerships with multiple protocols including Polygon, Avalanche, Terra, and Algorand, and plans to launch its mainnet in the coming weeks.
GameFi infrastructure and trading platform L2Y completes $3.7 million financing
On December 10, GameFi infrastructure and trading platform L2Y closed a $3.7 million funding round led by Hack VC, A&T Capital, Kenetic Capital, and Protocol Labs, with participation from Fenbushi Capital, NGC Ventures, HashKey Capital, CollinStar Capital, FBG Capital, Foresight Ventures, DoraHacks, and Starboard. The funds will accelerate platform development and enhance user experience through functional improvements.
Brazilian Game Guild BAYZ raises $4 million
On December 10, Brazilian blockchain gaming guild BAYZ announced it has raised $4 million in a round led by YieldGuild Games, with participation from BITKRAFT, Delphi Digital, Valor Capital, Ascensive Assets, Fabric Ventures, Arca Funds, and Parafi Capital. Angel investors include Sebastien Borget, co-founder of The Sandbox, and Jeff Zirlin, co-founder of Axie Infinity. The funding will support collaborations with leading blockchain game developers, expand its content and creator network, and recruit top talent to solidify BAYZ’s position as a leading NFT gaming guild.
Metaverse project Digital Village closes $2 million seed round
On December 10, metaverse project Digital Village announced the completion of a $2 million seed funding round, with backing from Venrex, Venture Reality Fund, M6, and NOIA Capital. Digital Village is expected to launch in Q2 2022, combining gaming, social media, and e-commerce, allowing users’ avatars to move and interact in virtual spaces while sharing experiences and assets across digital platforms.
Mobile social NFT trading platform Artemis raises $2 million
On December 9, Artemis, a Solana-based decentralized mobile NFT social and trading platform, announced a $2 million raise led by Alameda Research, Blue Pool Capital, Animoca Brands, Mirana Ventures, and Moonvault Partners. The funding will be used to further develop the platform and list exclusive NFT content.
DeFi
Balancer community proposes activating v2 protocol fees, currently with 98% approval. On December 10, the Balancer community launched a Snapshot proposal to activate v2 protocol fees, which can be set between 0-50% of pool fees. Initially, these fees will accumulate in the treasury and may later be used for purposes such as creating a DAO treasury index fund or BAL buybacks. The proposal currently holds 98% support and will close at 6:00 AM UTC on December 12.
NFT/GameFi
Blockchain P2E game DragonMaster partners with Polygon Studios
On December 10, blockchain P2E game DragonMaster announced a collaboration with Polygon Studios, the gaming and NFT arm of Polygon, bringing Play-to-Earn games into the metaverse. DragonMaster combines RTS, MOBA, and collection mechanics in a blockchain-based Play-to-Earn format. The game will return a significant portion of its revenue to contributing players, who will receive not only daily P2E rewards but also a share of platform income.
Talking Tom Cat Family launches limited-edition NFT cards with OnlyArt
On December 10, Jinke Tomcat Company’s “Talking Tom Cat Family” IP partnered with digital art e-commerce platform OnlyArt to officially launch its first series of limited-edition NFT cards themed around “Talking Tom Cat Racing.” The NFT series will feature structured content released in phases via blind boxes, offering fans of the Talking Tom Cat IP and NFT enthusiasts new interactive experiences and digital engagement.
Others
dYdX Foundation proposes updating trader and liquidity provider incentive algorithm, adding stkDYDX as parameter
On December 10, the dYdX Foundation proposed an update to the trader and liquidity provider incentive algorithm, introducing stkDYDX as a new parameter. This adjustment aims to better empower the DYDX token, stimulate the dYdX ecosystem, and strengthen protocol security through increased adoption of the staked collateral pool. The proposal awaits community approval, with dYdX planning to implement the updated algorithm at the start of Epoch 5.
Ethereum Layer 2 scaling solution Optimistic integrates with L2-to-L1 bridge Across Protocol
On December 10, official sources announced that Ethereum Layer 2 scaling solution Optimistic has integrated with the L2-to-L1 cross-chain bridge Across Protocol. Users of Optimistic Ethereum can now use Across to bridge funds from Optimism back to L1 Ethereum. Currently, Across supports ETH, USDC, and UMA, with more assets planned for future support.
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