CGV Research Vane | Weekly Report on Global Cryptocurrency Investment and Financing Trends (Feb. 20 — Feb. 26, 2023)

From last week’s investment and financing data (13 projects in total), the main investment directions include Web3 infrastructure (6), Game (4), DeFi (2), NFT (1), and Metaverse (1). Among them, Web3 infrastructure projects are favored by crypto-investors, with investments from well-known companies such as PayPal Ventures, Galaxy Digital, Coinbase, Uniswap, etc.; game projects are also in the spotlight, such as Azra Games and Kratos, both of which have received investments from well-known VCs. Finance, which addresses impairment losses in liquidity provision and offers diversification and yield; the NFT project NeoSwap AI and the Metaverse project Worldwide Webb, which have also received investments, respectively.

CGV summarizes a week of significant investment and funding information in the crypto market, from February 20, 2023, to February 26, 2023, in the global crypto market.


1.Chaos Labs| Seed round financing of $20 million | Led by Galaxy Digital

On February 21, Chaos Labs, a blockchain security agency, announced the closing of a $20 million seed round led by PayPal Ventures and Galaxy Digital, with participation from Coinbase, Uniswap, Lightspeed, Bessemer, and angel investors including Balaji Srinivasan and Naval Ravikant, among other angel investors.

2.Intu | Pre-Seed round financing of $2 million | Participated by Fantom Foundation, etc.

On February 21, Intu, the Web3 decentralized account management protocol, announced the closing of a $2 million Pre-Seed round with participation from CoinFund, Metaweb Ventures, Fantom Foundation and others.

3. iBLOXX | Financing of $5 million | Led by PrimeXM

On February 23rd, iBLOXX, a Web3 incubator and market maker, announced the closing of a $5 million funding round led by PrimeXM, which will be used to expand the company’s game development division, iBLOXX Studios, bringing the post-investment valuation of its game division to $30 million.

4. Chain Reaction | Financing of $70 million | Led by Morgan Creek Digital

On February 23rd, Chain Reaction, an Israeli blockchain chip startup, closed a $70 million funding round led by Morgan Creek Digital.

5.OneKey | A+ round financing of $85 million | Led by IOSG Ventures

On February 23, OneKey, a hardware wallet company, announced the closing of its Series A+ funding round at a valuation of $85 million, led by IOSG Ventures.


6.Azra Games | Seed round financing of $10 million | Led by a16z

On February 21, Azra Games, a gaming company, announced closing an additional $10 million seed round led by a16z through its $600 million gaming fund, GAMES FUND ONE, with participation from NFX, Coinbase Ventures, Play Ventures, and Franklin Templeton.

7. Kratos | Seed round financing of $20 million | Led by Accel

On February 23rd, Kratos, an Indian Web3 game company, closed a $20 million seed round led by Accel, with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies, at a valuation of $150 million. And Nazara Technologies.


8.Affine | Financing of $5.1 million | Led by Jump Crypto

On February 23rd, Affine Protocol, a DeFi yield protocol, closed $5.1 million in funding led by Jump Crypto and Hack VC, with participation from Circle Ventures and Coinbase Ventures.

9.Tsunami.Finance| Pre-seed round financing of $1.3 million | Led by Big Brain Holdings

On Feb. 24, Aptos ecosystem derivative protocol Tsunami. Finance completed a $1.3 million Pre-seed round of financing, led by Big Brain Holdings and Mirana, with participation from Zeta Markets, Hedge Labs, Pontem, Brilliance Ventures, BuilderVC, Marin Digital Ventures, Soju, Switchboardxyz, Coral DeFi, RNR Capital, Aptos Monkeys, and Time Research.

10.Huma Finance | Seed round financing of $8.3 million | Participated by Race Capital, etc.

On February 24, Huma Finance, a DeFi project, announced the closing of an $8.3 million seed round with participation from Race Capital, Distributed Global, ParaFi, Circle Ventures and Folius Ventures, and launch partners including Circle, Request Network and Superfluid.


11.NeoSwap AI | Financing of $2 million | Led by DACM and AngelHub

On February 25, NeoSwap AI, an NFT trading platform, closed a $2 million Pre-Seed round of funding at a valuation of $15 million, led by DACM and AngelHub, with participation from Gossamer Capital, Cavalry Asset Management, Stacks Ventures, Dhuna Ventures, and several angel investors.


12.Worldwide Webb | A round financing of $10 million | Invested by Pantera Capital

On Feb. 23, pixelated metaverse Worldwide Webb completed a $10 million A round of financing, with Pantera Capital as its only investor. The funds will be used to enhance Worldwide Webb’s influence, expand its team, and integrate other chains besides Ethereum.

[Web3 Applications]

13.Towns | A round financing of $25.5 million | Led by a16z

On February 23, Towns, a Web3 social app, closed a $25.5 million funding round led by a16z with participation from Benchmark, Framework Ventures and others. towns takes the town square idea and combines community, NFT, and gaming.

About Cryptogram Venture (CGV): CGVCGV FoFCryptogram Venture (CGV) is a Japan-based research and investment institution engaged in crypto. With the business philosophy of “research-driven investment,” it has participated in early investments in FTX, Republic, CasperLabs, AlchemyPay, Graph, Bitkeep, Pocket, and Powerpool, as well as the Japanese government-regulated yen stablecoin JPYW, etc. Meanwhile, CGV FoF is the limited partner of Huobi venture, Rocktree capital, Kirin fund, etc. From July to October 2022, it launched the first TWSH in Japan, which was jointly supported by the Ministry of Education, Culture, Sports, Science and Technology (MEXT), Keio University, SONY, SoftBank, and other institutions and experts. Currently, CGV has branches in Singapore, Canada, and Hongkong.

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