Edition #54 - 03 MAR 2023
Artificial Intelligence (AI) is taking over the world. It’s everywhere — biotech, law, music, and even meal prep. There are more AI crossovers than when Allen Iverson was tearing up the NBA.
And now, it’s taking over crypto. NFTs, DeFi projects, etc. are all pivoting to add the newest buzz word to their project. And check it out: AI tokens have been some of the hottest cryptocurrencies this year. Since January 27th, $1.62B has poured into AI cryptos. As of yesterday, the market cap for AI-centered digital assets was ~$4.18B
gaming developments
Indian web3 gaming studio Kratos raised $20M in a seed funding round led by Accel, with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners and Nazara Technologies.
Web3 gaming and NFT analytics platform Helika raised $4M in a seed funding round led by Diagram Ventures, with participation from Fenbushi Capital, Sfermion, Big Brain Holdings, Builder Capital and Sparkle Ventures.
metaverses & AI
Avalon raises $13M to build an interoperable digital universe.
“With this launch of OpenAI we are at peak hype. It was metaverse before that, cannabis before that. Five years ago it was 3-D printing,” one investor told the Wall Street Journal.
defi
Justin Sun bets $240 million worth of ETH on Lido.
DeFi app and protocol Affine Protocol raised $5.1M in a seed funding round led by Hack VC and Jump Crypto, with participation from Spartan Group, Coinbase Ventures, Circle Ventures and AlphaLab Capital.
Decentralized visual digital identity solution provider Lifeform raised $5M in a Series A funding round led by GeekCartel, with participation from KuCoin Labs, DHVC, SevenX Ventures, Foresight Ventures, K24 Ventures and Another World.
Decentralized exchange Mangrove raised $7.4M in a Series A funding round led by Cumberland and Greenfield Capital, with participation from CMT and Gumi Crypto Capital (gCC).
Decentralized lending protocol Term Finance raised $2.5M in a seed funding round led by Electric Capital, with participation from Circle Ventures, MEXC Ventures, Coinbase Ventures, Robot Ventures and Open Web Collective.
funding rounds
Ethereum 'town square' protocol Towns raised $25.5M in a Series A funding round led by a16z crypto, with participation from Benchmark and Framework.
Subscribe to Weekly Essentials