Tuesday, May 24, 2022
HomeNFT NewsVC Roundup - NFTs and crypto mortgages, 5G networks, Web3 developers raise...

VC Roundup – NFTs and crypto mortgages, 5G networks, Web3 developers raise millions

The cryptocurrency market has not made significant progress in recent months but that hasn’t stopped industry builders from continuing to build. Venture capitalists are interested in nonfungible tokens (NFTs), cryptocurrency mortgages, blockchain-powered mobile networks, and Web3 gaming. Venture capitalists continue to focus on blockchain’s most promising value investments, and these new investment themes are the headline of the latest VC Roundup.

a16z execs back new NFT fund

Andreessen Horowitz’s foray into the blockchain industry continued this month after a large segment of its investing team backed a new nonfungible token fund called Curated. The fund, which is worth $30 million, has the singular purpose of buying and holding NFT artwork. Among the a16z brass, Marc Andreessen, Arianna Simpson, Chris Dixon, Andrew Chen and John Lai are all investors in the fund, according to Tech Crunch. In an inflationary world, NFTs and traditional arts are becoming increasingly valuable assets. (Interestingly, a16z has been talking about NFTs since at least 2020, which is eons ago in the crypto industry. )

How are crypto marketplaces and NFTs changing the game for creators? Listen to our Q&As with artists @muratpak and @sigggnasty for an intro to the token-based creator economy: https://t.co/Lj42leSkfa

— a16z (@a16z) November 22, 2020

Related: You don’t need to be angry about NFTs

Crypto mortgage lender Milo receives $17M

Crypto-focused fintech startup Milo has raised $17 million in Series A funding from venture firms M13, QED Investors and MetaProp. Milo will use the funding to advance its suite of product offerings, which includes a 30-year crypto mortgage that allows users to put up digital assets as collateral for their home loans. Since launching in January, Milo’s 30-year mortgage has already received over 7,400 applications. The company’s first product — a mortgage solution for foreign nationals — processed $500 million in applications from over 90 countries.

Crypto-friendly neobank raises $77M

Scandinavian neobank Lunar is planning to launch a new cryptocurrency platform and business-to-business service after raising $77 million at a $2 billion valuation. The crypto trading service will initially focus on just five assets: Bitcoin (BTC), Ether (ETH), Cardano (ADA), Polkadot (DOT) and Dogecoin (DOGE). The crypto strategy of the company reflects a desire to serve more consumer-oriented industries in a region that has seen a significant increase in digital asset trading. According to Tech Crunch, Lunar is already raising capital for its next funding round, which is expected to close in May.

FreedomFi closes $9.5M funding round

Crypto-friendly 5G developer FreedomFi has raised $9.5 million in funding to advance a Web3 platform that enables consumers to crowdsource deployments of small cell networks using digital assets. Blueyard Capital, Qualcomm Ventures, and Samsung Next funded the Series A round. FreedomFi has already made inroads into the digital asset space, having partnered with the Helium blockchain in 2021 to advance wider adoption of cellular base stations at the consumer level.

Web3 platform Joyride raises $14M

Web3 gaming platform Joyride Games recently closed a $14 million seed round that was financed by some of blockchain’s biggest venture funds, including BITKRAFT Ventures, SuperLayer, Coinbase Ventures, Animoca Brands, Dapper Labs and Solana Ventures. Joyride is targeted at developers who are looking to launch and build blockchain-powered esports or social games. According to the company, it will launch its first gaming project on its platform within the next few days.

Describe Web3 in 3 words.

— Cointelegraph (@Cointelegraph) March 8, 2022

Related: VC Roundup: Web3 infrastructure developers attract major investors

Crypto Unicorns closes $26M token sale

Web3 game developer Laguna Games completed a $26 million token sale for its Polygon-based NFT collection Crypto Unicorns. TCG, Backed VC and BITKRAFT Capital were the top buyers. Laguna Games stated that all funds raised would be given to Crypto Unicorns DAO Treasury. The governance of this entity will be transferred to the community in the future.

Read More

Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Most Popular