Conductive.ai Raises Funds to Launch Gaming Engagement Platform for Boosting Player Lifetime Value
Conductive.ai has secured funding to launch its engagement platform for game developers designed to boost player lifetime value and retention rates. The platform rewards gameplay with sustainable stablecoin rewards, providing developers with additional tools such as a player reward distribution system and an analytics suite to shape strategies that encourage players to return to the game. The funding round was led by Animoca Brands and included participation from Kraken Ventures, Bixin Ventures, Sound Ventures, and others.
Funding to Crypto Startups Continues to Decline for Seventh Straight Quarter
As we approach the end of the first month of Q3, it's time to take note of the trends that will shape the rest of the year. Unfortunately, the decline in funding for crypto startups, which has been ongoing for some time, shows no signs of stopping. According to the Crunchbase Web3 Tracker, this trend is set to continue, with Q3 investments expected to fall well below the $1.9 billion raised in Q2. In fact, Q2 was relatively stable, with only a slight decrease from Q1, but the current quarter is shaping up to be more uncertain, with VC investments totaling only $412.7 million so far.
Venture Capitalists Invest $201.4 Million in Crypto Projects, with Futureverse and RISC Zero Receiving Largest Fundraises
Last week, venture capital and investment firms invested $201.4 million in crypto projects, with Futureverse and RISC Zero receiving the largest fundraises. Futureverse secured an impressive $54 million from its Series A funding round, led by 10T Holdings and Ripple Labs, while RISC Zero raised $40 million in a Series A round. The infrastructure sector received over $210 million in funding across 26 funding rounds in June alone, indicating a surging interest in infrastructure funding from venture capitalists. Despite a decline in fundraising activities in June, the overall trend for 2023 indicates growth in the crypto space.
Blockchain Startup Cymbal Raises $18.5M to Expand Development of Human-Readable Blockchain Explorer
Menlo Park-based blockchain startup Cymbal has secured $18.5m in funding from investors including GV, Coinbase Ventures and First Round Capital. The funds will be used to expand the company's operations and development efforts. Cymbal is developing a blockchain explorer that allows users to view and search for events and activities stored on-chain, including transactions, social media accounts and holdings. The platform currently offers information on wallet portfolios, NFT purchases and collection sales, with plans to add further blockchain data in future.
SEC Chairman Gary Gensler Seeks Millions in Funding To Expand Agency’s Efforts Against Noncompliant Crypto Industry
Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC), has requested additional funding of tens of millions of dollars to expand the agency's budget. Gensler argued that the SEC needs to grow to protect investors against noncompliance in the crypto industry, which he described as the "Wild West".
Authic Labs Raises Seed Round to Disrupt Customer Loyalty Programs with The Power of Web3
Authic Labs, the codeless NFT marketplace solution, has announced the completion of a seed round of funding with participation from Angelwise, Rockstart, Graduate Entrepreneur Fund, and SeedBlink, according to an official announcement from Authic Labs for an undisclosed amount at this time. The new funding will be used to expand its market reach and support the development of new products and services.
Data: Venture Capital Investment in Web3 Projects Fell by 78% in the First Half of the Year
According to Crunchbase, in the first half of this year, Web3 projects raised $3.6 billion from venture capital firms, a 78% drop from the same period last year. Crunchbase defines cryptocurrency and blockchain startups as Web3.
AI Metaverse Startup Futureverse Raises $54 Million
The startup formed out of a merger of 11 different companies.An unusual company straddling a range of industries has raised $54 million in fresh funding from investors. The company is Futureverse, a combination of 11 different startups from sectors including blockchain, artificial intelligence, the metaverse and gaming.
Synergis Capital Closed Synergis Fund II $50 Million Flagship Seed Fund
According to Synergis official, Canadian venture capital firm Synergis Capital announced that the second phase of its seed fund raising had been completed, with a scale of $50 million.
Skyplay Raises $10M To Expand Gaming Portfolio Through Blockchain Integration
South Korean company Skyplay has secured $10m in funding from LDA Capital to expand its blockchain-based gaming platform. The platform allows users to earn coins and trade NFTs, and SKP coins can be used for various purposes within the ecosystem. Skyplay's CEO, Richard Chang, said the company's platform is currently used by around 300,000 people each month in over 170 countries.
