VC Roundup: Investors Back Games, Collectibles, and Creator Economy

Investors Show Confidence in Crypto and Web3

Venture capitalists have shown renewed confidence in crypto and Web3 projects, with major funding rounds making a comeback. The cross-chain protocol Wormhole recently secured a $225 million investment at a valuation of $2.5 billion, with participation from top investors such as Coinbase Ventures and Brevan Howard. Another example is Rokid, a startup focused on virtual reality hardware solutions, which raised $112 million for international expansion.

Early-Stage Startups in the Crypto Space Also Receive Funding

In addition to larger funding rounds, early-stage crypto startups have also received support. BITKRAFT Ventures has been lending a hand to creative economy platforms and gaming studios, providing smaller checks to help these startups thrive.

Music Collaboration Platform Baton Raises $4.2 Million

Baton, a collaboration platform for the music industry, has closed a $4.2 million funding round. Led by BITKRAFT Ventures, the funding will be used to expand the team and accelerate product development. Baton aims to address key issues in the music industry by curating and delivering content to the right audience and promoting collaboration and fair compensation for creators.

Saga Raises $5 Million in Seed Extension Funding

Saga, a layer-1 protocol, has raised $5 million in a seed extension round. The funding will be used to expand the team, build partnerships, and grow the Saga Innovator Program. Saga has nearly 300 projects building on its protocol, and its mainnet is expected to go live in early 2024.

Game Studio Bazooka Tango Secures $5 Million

Bazooka Tango, a game studio, has raised $5 million in a funding round led by BITKRAFT Ventures. The funds will be used to expand the team and accelerate the development of its collectible tactics game Shardbound. Bazooka Tango was founded by industry veterans from Rockstar Games, Riot, and Activision Blizzard.

Authentick Raises $4 Million for Wallet-Free Collectibles Purchases

Authentick, a platform offering wallet-free purchases of collectibles, has raised $4 million in seed funding. The funding, led by Singaporean venture capital firm Menyala, will be used for development and partnerships. Authentick converts digital collectibles into formats compatible with e-commerce platforms, allowing users to purchase them like regular retail items.

Intract Raises $3 Million for Web3 Gaming Platform

Intract, a web3 exploration platform, has secured $3 million in seed funding. The startup offers community engagement solutions and allows users to earn tokens and NFTs through quests, challenges, and events. Intract has formed key partnerships with Binance, Polygon, and 1inch.