The global encryption investment and financing market is gradually rational, and project valuations have begun to decline. Judging from the statistics this week (a total of 14 projects), investment institutions have increased investment in the GameFi field (5), infrastructure (4) is still the focus of investment, the DeFi field (3) is gradually recovering, and NFT (2 1) Investment is mainly to improve liquidity. CGV and CTC have summarized the investment and financing information worth noting in the global encryption market for a week. The following is the investment and financing information of the global encryption market from March 21 to March 27, 2022:

【infrastructure】

1. prePO | Financing $2.1 million｜IOSG Ventures and other leading investors

On March 23, prePO, a decentralized trading platform focusing on pre-IPO and pre-Token projects, completed a strategic round of financing of US$2.1 million. This round of financing was led by IOSG Ventures and Republic Capital. AscendEX, GCR, Shima Capital, Caballeros Capital, Dexterity Capital, HoneyDAO, NeptuneDAO, etc. participated in the investment, and angel investors included founders from projects such as Gnosis, 1inch, Moonbeam, Zapper, and Gelato. The financing will be used to strengthen the core product, bootstrap liquidity in the initial market, grow the community, and expand the core team.

2. Phi Labs | $21 million in seed round financing｜CoinFund leads the investment

On March 24, Phi Labs, a Cosmos-based smart contract incentive service provider, completed a $21 million seed round of financing, led by CoinFund and Hashed, 1confirmation, IDEO CoLab, Figment, Blockchain Capital, Wintermute, Chorus One, stake.fish, Lemniscap , Cosmostation and Hypersphere Ventures participated in the investment, and they plan to use this latest financing to expand the number of employees, product development and construction based on the Phi Lab protocol Archway.

3.Joystream | Financing of US$5.85 million｜DCG and other leading investors

On March 24, Joystream, a decentralized creator platform, completed a financing of US$5.85 million at a valuation of US$60 million. This round of financing was led by DCG, Hypersphere, DeFi Alliance and D1 Ventures. This round of financing will be used to recruit creators, and JOY Token worth $12 million will be allocated as an incentive.

Joystream aims to build a decentralized YouTube, where creators can mint their created videos into NFTs, and channels will issue their own native tokens. Joystream plans to launch the main network in the second or third quarter of this year, and will govern the agreement through DAO.

4. Greenidge Generation | Financing 100 million US dollars | NYDIG subsidiary and others participated in the investment

On March 25, Bitcoin mining company Greenidge Generation completed two financings with a total proceeds of more than $100 million. The financing includes approximately $81.4 million from a subsidiary of NYDIG secured by some Bitmain S19 J Pro Antminers for delivery in 2022. The financing will provide Greenidge Generation with additional liquidity to fund business expansion through 2022.

【DeFi】

5. Struct Finance | $3.9 million in seed round financing｜Blizzard Fund and others lead the investment

On March 21, Struct Finance, an Avalanche-based DeFi protocol, completed a $3.9 million seed round of financing. This round of financing was led by Blizzard Fund, Infinity Ventures Crypto, Antler, Arcanum Capital, Assymets Technologies, Avalaunch, AVentures Dao, Bison Fund, Bixin Ventures, Double Peak, FBG Capital, Finality Capital Partners, Keychain Capital, Lancer Capital, Lucidblue, MC Ventures, Skyvision Capital, QCP Capital, SCC Investments, Spark Digital, Wintermute, Woodstock, Zokyo, 0xVentures and others participated in the investment. Funding will be used to build tools that will enable the ecosystem to customize, compose and invest in decentralized structured products.

6.NeoFi | Strategic financing of 2.1 million US dollars｜Digital Strategies and others participated in the investment

On March 22, NeoFi, an encrypted investment platform, announced the completion of a strategic financing of US$2.1 million. Institutions such as Digital Strategies, BlueZilla, Ghaf Capital Partners, GDA Capital, Banter Capital, Magnus Capital, Maven Capital, Contango Digital Assets, and individual investors such as Heslin Kim Participating in the investment, the funds raised will be used to complete the development of its ecosystem and launch landing products.

NeoFi aims to provide users with a "basket" to build a diversified digital asset portfolio with one click, mortgage it in multiple DeFi protocols, and obtain income through a unified dashboard.

7. Bastion | Jane Street and others participated in the investment

On March 23, Bastion, a decentralized lending agreement based on NEAR, completed a new round of financing. The specific amount has not been disclosed yet. This round of financing was funded by market makers Jane Street, ParaFi Capital, Digital Currency Group (DCG), CMS and The Daily Ape founder Darren Lau and SushiSwap co-founder 0xMaki participated in the investment.

【NFT】

8.Upshot | Financing $22 million｜Polychain Capital led the investment

On March 22, Upshot, an NFT price evaluation agreement, completed a US$22 million A2 round of financing. This round of financing was led by Polychain Capital, and other specific financing information has not yet been disclosed. This round of financing will be used for the research and development of pricing models.

9. Cyan | pre-seed round of financing $ 100,000 | Animoca Brands lead investment

On March 23, Cyan, an NFT financial service agreement, completed a pre-seed round of financing of US$100,000, led by Animoca Brands. The financing will be used to help Cyan launch its BNPL (buy now pay later) service agreement.

The buy-now-pay-later service promoted by Cyan is an agreement that provides financing services for users who purchase NFT. Users can choose to purchase NFT in installments, mortgage NFT to obtain income, and other functions.

【GameFi】

10.Block Tackle | Financing $5 million｜Play Ventures and other leading investors

On March 22, Metaverse game studio Block Tackle completed a $5 million seed round of financing, led by Play Ventures and Cadenza Ventures, with participation from Animoca Brands, Coinbase Ventures, and Solana Ventures. The financing will be used to create NFT chain games.

Block Tackle is co-founded by Rob Oshima and Ben Topkins, who helped create games like The Hobbit: Kingdoms of Middle-earth and The Fast and the Furious: Legacy. The studio is developing a chain game "SkateX" based on Solana with NFT skateboards

11. LifeForce Games | $5 million in seed round financing｜Lemniscap leads the round

On March 22, LifeForce Games, a blockchain game development studio, announced the completion of a $5 million seed round of financing. This round of financing was led by Lemniscap, with participation from CMT Digital, Sfermion, Hartmann Capital, Sterling VC, Ready Player DAO, and Neon DAO. The financing will be used to launch a P2E blockchain game.

The LifeForce Games team is developing new tools to enable interoperability of NFTs across other games and platforms, and to provide novel monetization elements for gamers to use virtual land.

12. MetaDerby | $2.5 million in seed round financing｜Ava Labs and others led the investment

On March 22, the Avalanche-based horse racing game MetaDerby completed a $2.5 million seed round of financing led by Ava Labs and Old Fashion Research, Avalaunch, AventuresDAO, Shima Capital, LD Capital, Keychain Capital, Magnus Capital, Hailstone Ventures , IndiGG, Coins.ph, Dux, MVM DAO, etc. participated in the investment.

MetaDerby players can earn income through competition, breeding, and trading NFT horses. Players can also create their own games by buying land in the DerbyVerse and building stables, racetracks, and even jockey clubs on it.

13.Red Door Digital | Financing $5 million｜M6 and others participated in the investment

On March 24, chain game company Red Door Digital announced the completion of a $5 million seed round of financing, with participation from M6, Shima Capital, Maven Capital, Cryptology Asset Group, and LucidBlue Ventures.

Red Door Digital aims to develop games for the emerging Web 3 ecosystem, and the funds raised will be used to create a game theory model of the game. Red Door Digital currently has three games in development, the first of which, "Reign of Terror," will be released in summer 2022.

14. Apricot Planet | Seed round financing｜Animoca Brands investment

On March 24, Apricot Planet, Japan's first P2E game guild, completed its seed round financing, led by Animoca Brands. The specific financing amount has not been disclosed yet, and Apricot Planet will use metaverse Job Japan as the trade union brand name.