Cryptoday 1.19 | Player guild IndiGG raises $6 million in seed funding, with Sequoia Capital India among the participants
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Cryptoday 1.19 | Player guild IndiGG raises $6 million in seed funding, with Sequoia Capital India among the participants
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Funding Movements
Hardware wallet NGRAVE raises $6 million in seed funding, backed by Morningstar Ventures and others
According to U.Today, NGRAVE, a manufacturer of cryptocurrency hardware wallets, has completed a $6 million seed round led by Woodstock Fund, Morningstar Ventures, DFG, Spark Digital Capital, Moonrock Capital, and Mapleblock Capital. The team plans to use the funds to expand its operations globally in 2022, establishing new centers across multiple regions. As of Q1 2022, NGRAVE products have been sold in over 90 countries worldwide.
Bitcoin IRA platform iTrustCapital raises $125 million at $3.1 billion valuation, led by Left Lane Capital
The Block reports that crypto IRA platform iTrustCapital has raised $125 million in a Series A round at a $3.1 billion valuation, led by Left Lane Capital, with other investors undisclosed. Proceeds will be used to develop new products such as staking governance tokens and explore acquisition opportunities. iTrustCapital enables users to purchase cryptocurrencies through individual retirement accounts (IRAs), with custodial services provided by Coinbase Custody and Fireblocks. Kevin Maloney, Senior Vice President of iTrustCapital, said the platform has created over 120,000 new accounts since launch, with more than 25,000 monthly active users.
Crypto VC Inflection launches $40 million Mercury Fund, with Galaxy Digital among backers
CoinDesk reports that crypto venture firm Inflection has launched a $40 million fund called Mercury Fund, aimed at investing in companies building the "Open Economy." Limited partners include Galaxy Digital, Digital Currency Group, Accolade Partners, Evanston Capital, Isomer, Hutt Capital, Multiple Capital, Presight Partners, Rockaway, along with individual supporters such as a16z co-founder Marc Andreessen, a16z partner Chris Dixon, tech investor Bo Shao, and Erik Voorhees. Inflection typically invests between $500,000 and $1.5 million in early-stage startups. The firm emphasizes a community-centric approach, sharing fund ownership with founders from portfolio companies and innovators within its network.
Gaming guild IndiGG raises $6 million in seed funding, backed by Sequoia Capital India and others
Financial Express reports that Indian gaming guild IndiGG, a collaboration between Yield Guild Games (YGG) and Polygon, has raised $6 million in seed funding. Investors include Sequoia Capital India, Lightspeed Venture Partners, Animoca Brands, Jump Capital, Variant Fund, and Dune Ventures. IndiGG will soon support NFT assets from Axie Infinity, Pegaxy, Fancy Birds, Nyan Heroes, and Nitro League, followed by launching new games tailored for the Indian market.
Southeast Asian gaming guild Ancient8 raises $4 million, led by Dragonfly, Pantera, and Hashed
Mars Finance reports that Vietnam-based gaming guild Ancient8 announced today it has closed a $4 million seed round led by Dragonfly Capital, Pantera Capital, and Hashed. Ancient8 stated it will use the funds to establish a DAO focused on strengthening its “Play-to-Earn” community.
Prediction market protocol PlotX raises $5 million in Pre-A round, backed by Polygon, Animoca and others
Mars Finance reports that prediction market protocol PlotX has raised $5 million in a Pre-A funding round, with participation from Polygon, Hashed, Animoca Brands, Alpha Wave Global (formerly Falcon Edge), Sandeep Nailwal (co-founder of Polygon), and Alan Howard (co-founder of Brevan Howard Asset Management).
Asset tokenization infrastructure provider Stably announces completion of Pre-A round, led by Morgan Creek Capital
Stably, an asset tokenization infrastructure provider, announced it has completed its Pre-A funding round led by Morgan Creek Capital, Jackson Fu from Cream, and Sunny Lu from VeChain. Other participants include Hard Yaka, Bloccelerate, and B21 Capital. The funding amount was not disclosed.
DeFi
DODO community proposes migrating 2 million DODO tokens each to Avalanche, Boba Network, and Moonriver Network
The DODO community has launched proposal DIP-10, suggesting the migration of 2 million DODO tokens each to Avalanche, Boba Network, and Moonriver Network. Voting runs from January 21 at 12:00 to January 25 at 12:00 SGT.
Cosmos-based DEX Osmosis launches bridge to support Ethereum assets
According to CoinDesk, Osmosis, the first decentralized exchange (DEX) on the Cosmos network, has launched its "Gravity Bridge," enabling integration with Ethereum. This allows Osmosis users to trade Ethereum-based assets directly, enhancing cross-chain liquidity and increasing total value locked (TVL) across AMMs in the Cosmos ecosystem.
NFT/GameFi
Alibaba IP Ali the Fox announces upcoming 'Ali & His Friends' NFT series
The cartoon character Ali the Fox (created in 2006 by Hans Xu Han) announced on social media the launch of its 'Ali & His Friends' NFT collection. Originating from online comics and magazine serials, the franchise has expanded into illustrated books and animated shorts. To date, Ali-related publications have surpassed 3 million copies in sales and boast tens of millions of fans online.
Lamborghini announces upcoming NFT drop, details including auction info to be revealed in coming weeks
Lamborghini has announced plans to release an NFT accessible via the Lamborghini Space Key — an exclusive project developed by an as-yet-undisclosed artist. The space-themed artwork features a piece of advanced carbon fiber composite material that Lamborghini sent to the International Space Station in 2019 as part of a joint research initiative. After returning from space, this material became part of the Space Key. Only five units of this physical object will be produced, each linked to a unique digital artwork by the same artist, accessible via QR code on the back. The NFTs were developed in partnership with NFT PRO™, a white-label enterprise NFT solution. Full details of the Lamborghini Space Key project, including the artist’s identity and auction information, will be unveiled in the coming weeks.
Others
Privacy protocol NYM announces mainnet launch
NYM officially announced on Twitter the launch of its mainnet “Nyx.” Nyx is built on CosmWasm, a next-generation development standard supporting cross-chain interoperability within the Cosmos ecosystem. The team also introduced its privacy-enhancing Coconut signature scheme and stated they are working to deploy it on CosmWasm as quickly as possible. In November 2021, NYM raised $13 million in a Series A round at a $270 million valuation, led by a16z, with participation from DCG and Tayssir Capital.
Mosaic set to go live on Moonbeam, enabling transfers between Polkadot EVM L1/L2 networks
Moonbeam announced that Mosaic by Composable Finance will soon integrate Moonbeam as one of its connected networks. This integration will enable seamless token transfers between Moonbeam, Moonriver, Ethereum, Fantom, Avalanche, Arbitrum, Polygon, and upcoming integrations with Optimism and Starknet. Additionally, developers will gain access to Moonbeam via the Composable SDK for cross-layer transfers, swaps, and function calls. Mosaic is Composable’s cross-layer asset transfer system, initially introduced as a proof-of-concept (PoC) in September 2021 and evolved into a robust infrastructure facilitating millions of dollars in daily transactions. Thanks to Mosaic’s infrastructure, developers from other EVM ecosystems will be among the first to connect to Moonbeam. Meanwhile, native projects on Moonbeam will gain access to liquidity and functionality from all other layers supported by Mosaic.
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