Crust Network Secures Seven-Figure Funding from DWF Labs and Launches EVM Storage
Crust Network, a decentralized storage network, has announced that it has secured a significant seven-figure funding from DWF Labs. This long-term financial support will enable Crust Network to enhance its infrastructure and expand its operations in the decentralized storage space. In addition, Crust Network has launched its EVM Storage, a new technological advancement that supports Omnichain and seamlessly extends the Crust Storage Protocol across the entire EVM ecosystem.
Cronos Labs Partners with Filecoin Creator Protocol Labs to Support Blockchain Startups
Cronos Labs has partnered with Protocol Labs, the creator of Filecoin, to provide funding, technical support, and mentorship to companies in the Cronos Accelerator Program. The first cohort participants have received $30,000 upfront and access to another $300,000 in funding. This partnership aims to empower blockchain startups and foster the growth of decentralized finance, GameFi, SocialFi, and web3 infrastructure projects.
Polkadot's Funding and Development Activity Decline in Q2, but Market Indicators Suggest Uptrend for DOT
July 4 (Cointime) - Polkadot's funding and development activity declined in Q2, but market indicators suggest a potential uptrend for the token. Funding for Polkadot's R&D activity has increased since the last quarter of 2021, with Astar Network, Unique Network, and Darwinia receiving the most funding.
Venture Capital Investments in Cryptocurrency Companies Plummet Over 70% in Past Year: RootData
July 3 (Cointime) - Venture capital investments in cryptocurrency companies have dropped by over 70% in the past year, according to data from RootData. June 2022 saw $1.81bn invested in 149 rounds, while this year only 83 projects received $520m, the lowest funded month to date.
Crypto VC Funding Sees Distinct Slowdown, Public Investment Hits Two-Year Low
July 2 (Cointime) - Recent data from RootData shows a slowdown in public investment from crypto venture capitalists, with June recording only 83 deals - a 14% decline from the previous month and a 44% plunge year-on-year. Infrastructure accounts for the most significant chunk of funding, followed by NFT/GameFi and DeFi.
Crypto Startups Flourish in Middle East and Asia While North America Faces Challenges, Says Animoca Brands CEO
June 30 (Cointime) - According to Animoca Brands CEO Yat Siu, the crypto industry is experiencing uneven growth worldwide, with Web3 startups thriving in the Middle East and Asia, while North American entrepreneurs face challenges due to tough macroeconomic and regulatory conditions. Siu noted that while Web3 startups can still raise funding from venture firms, current conditions such as higher interest rates and a downturn in crypto asset prices have raised the bar for newcomers. Despite this, Siu remains bullish on the industry, citing the increasing number of builders and smart contracts being deployed. The regulatory aspect has been a challenge for Web3 companies, with Siu noting that it is creating fear due to uncertainty.
Smarter Contracts Secures More Than $1 Million in Funding To Develop Blockchain-Based Consent and Permissions Management Platform
June 30 (Cointime) -
Smarter Contracts, a tech innovator, has secured more than $1 million in funding from two private investors and a recent win at the Amazon AWS Fintech Accelerator. The investment will allow the company to develop its blockchain-based consent and permissions management platform, Pulse®, as well as expand its team and establish strategic partnerships. According to Wayne Lloyd, founder and CEO of Smarter Contracts, the funding is a significant milestone for the company, which has persevered through challenging circumstances to bring its vision to life.
Readiitel Raises $2 Million for Web3-Enabled Internet Service Allowing Customers to Earn Crypto
June 30 (Cointime) - Telecommunications company Readiitel has secured $2 million in funding for its new Web3-enabled internet service, Readii. The service allows customers to earn cryptocurrencies while using it. Readii aims to make Web3 technology more accessible by removing barriers to entry, such as lengthy cryptographic keys and high gas fees, through its proprietary Web3-powered router. Readiitel's funding round was led by 1 in 100 Ventures.
Shariah Compliant Ethics First Digital Money Islamic Coin Launches 1 September, Arouses Global Interest
June 29 (Cointime) -"Islamic Coin" is a Sharia-compliant digital currency that will be officially launched on centralized and decentralized exchanges on September 1, 2023. The project has already attracted widespread attention from the traditional and Islamic finance communities and raised $400 million in funding.
Hook Announces $3M Funding Round, Launches Treasure Hunt
June 29 (Cointime) -Hook announces $3 million in funding and launch of Treasure Hunt. Collab + Currency and Lattice led the round, and Slow, Sfermion, Maven11, Contrary and other institutions and individuals participated. The platform will establish an NFT native option protocol to provide holders with new income and hedging opportunities, while traders can use options for price prediction and safe leverage operations.
