Some of blockchain’s biggest venture firms have spearheaded a new investment fund dedicated to Web 3 gaming, also known as GameFi, potentially opening the door to a highly lucrative industry that sees cryptocurrency and blockchain merging with the traditional gaming sector. On Friday, Solana Ventures, Lightspeed Venture Partners and derivatives exchange FTX announced the launch of a $100 million GameFi ecosystem fund. The funds will be used to invest in gaming studios, technology companies and other projects “at the intersection of blockchain and gaming,” the companies said. Lightspeed Venture Partners executive Amy Wu described gaming as a massive opportunity to …

Global cryptocurrency and financial platform AscendEX recently concluded a $50 million Series B fundraiser that was backed by some of blockchain’s biggest venture funds, putting the company on track to bridge the gap between centralized finance and the budding world of DeFi. In an exclusive interview with Cointelegraph, AscendEX’s head of business development Shane Molidor and Wes Kaplan, the platform’s director of marketing and operations, talked about the company’s growing value proposition beyond the crypto exchange business and highlighted the role of institutional investors in fueling innovation in the industry. Venture capital forges strategic partnerships AscendEX’s Series B was led …

Blockchain-focused investment firm Sanctor Capital has raised $20 million to fund emerging projects in the cryptocurrency space, offering the latest evidence that venture capital continues to flood the market. The investment fund will be used to bootstrap projects in some of crypto’s hottest segments, including DeFi, GameFi and cross-chain infrastructure development, Sanctor announced Tuesday. In addition to funding early-stage companies, Sanctor will also provide guidance to blockchain founders on how to launch and scale their products. DeFi, which stands for decentralized finance, has become one of crypto’s most valuable industries with over $245 billion in total value locked. GameFi, meanwhile, …

Two blockchain entrepreneurs have launched a new cryptocurrency fund designed to bootstrap promising Web 3 startups, sending a strong signal that venture capital is eyeing the next builders of the decentralized internet. On Friday, Kevin Chou and Mahesh Vellanki unveiled SuperLayer, a crypto venture studio building Web 3 projects directly on the Rally network, a crypto-social platform that lets creators and artists launch their own digital currency. The venture studio will launch projects in-house before recruiting product managers to further develop the business. Notably, SuperLayer has received backing from big-name investors, including Marc Andreessen of venture capital firm Andreessen Horowitz, …

Crypto listing platform CoinList has concluded a $100 million Series A fundraiser to fuel its global business expansion, bringing its total valuation to a whopping $1.5 billion. The cash injection will help CoinList scale its business operations, support its community of early adopters and launch new product offerings, the company announced Tuesday. The fundraiser was co-led by venture funds Accomplice and Agman, with additional participation from Fenbushi Capital, DFG, CMT Digital, FBG Capital and others. CoinList has seen its user base grow by 42 times over the past year, highlighting the massive adoption of cryptocurrency adoption worldwide. The platform is …

Nonfungible token (NFT) company Candy Digital has secured $100 million in funding to expand its product footprint and creative capabilities, marking another major milestone for the rapidly growing NFT market. The funding will be used to expand Candy Digital’s NFT product offerings across the global sports marketplace, including creating new fan experiences, the company announced Thursday. Candy’s existing partnerships include Major League Baseball, Major League Baseball Players Association, Race Team Alliance and several college athletes. The Series A round was co-led by private equity firms Insight Partners and Softbank Vision Fund 2, with additional participation from Connect Ventures, Will Ventures, …

Galaxy Interactive, a venture capital firm focused on next-generation interactive technology, has announced it has raised $325 million for its second fund from 70 different investors. The fund is focused on virtual and augmented reality, artificial intelligence and blockchain-based games. In a Tuesday announcement, Galaxy Digital, the majority owner of Galaxy Interactive, stated that $150 million from the fund has already been allocated to new portfolio companies, including Republic, 1047 Games, Elodie, Roar, Art Blocks and Masterworks, with other additional investments to be announced in coming months. Established in 2018 by general partners Sam Englebardt and Richard Kim, the company …

MoonPay, a fintech startup dedicated to building crypto payments infrastructure, is reportedly expected to reach a valuation of $3.4 billion after conducting its first round of venture capital funding. The VC funding for the crypto payments startup is being co-led by Tiger Global Management and Coatue Management and will inject funds worth $400 million into the bootstrapped company. The MoonPay platform allows the purchase and sale of cryptocurrencies and digital assets using mainstream payment methods such as debit and credit card and local bank transfers. While the funding information is not officially announced, a report from The Information suggests that …

Esports, gaming and interactive media investment platform Bitkraft VC has established a $75-million token fund for investing in blockchain gaming and digital entertainment. The fund uses a “stage-agnostic” strategy, meaning that it will put money in companies and startups at any business development stage. Apart from equity investment, the token fund will also invest in cryptocurrencies and nonfungible tokens (NFT). In order to provide regulated investment opportunities, Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021. The new token fund is led by Piers Kicks, a founding partner in the investment arm …

Consumer entertainment products giant MGA Entertainment is moving into the nonfungible token (NFT) industry by turning its best-selling toys into digital collectibles on blockchain. The American toy giant is preparing to roll out an NFT functionality for its world-famous brand L.O.L. Surprise, allowing fans to mint NFTs, display their character collection, and buy, sell and trade digital collectibles online. To enable the new feature, MGA has partnered with Ioconic, a London-based partnership business for brand owners, offering exposure to the NFT and digital asset industry. The startup will enable an online gaming hub for the L.O.L. Surprise trading card game, …

Cross-chain decentralized exchange THORSwap has concluded a $3.75 million private token sale backed by leading venture funds within the blockchain industry, offering further evidence that investors are keen to back market-ready DeFi platforms. The funding will be used by THORSwap to continue building its development and operational resources, including the launch of new products on top of THORChain, the decentralized liquidity network powering the exchange. The private token sale was led by IDEO CoLab Ventures with participation from True Ventures, Sanctor Capital, Nine Realms, Proof Group, 0xVentures, Qi Capital, THORChain and others. THORSwap currently supports Bitcoin (BTC), Bitcoin Cash (BCH), …

Due to the enormous growth of DeFi and a lack of direct competitors, Ethereum wallet and browser extension MetaMask recently surpassed 10 million active users, a major milestone for the ConsenSys-led protocol. Now, a new browser wallet is looking to provide an alternative to MetaMask by doing something that most developers are shying away from — creating a web-based experience as opposed to a mobile client. Emile Dubié, the CEO of XDEFI Wallet, explained to Cointelegraph why MetaMask’s growth has previously gone unperturbed by competitors: “I think developers decided to get on mobile being the next client for blockchain users …