Sorare And Dapper Labs Raise Nearly 1 Billion USD

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2021-09-27 04:22:05

Overview of investment & funding activities in the past week

20 projects have completed funding in the past week, now we will learn about the 10 most prominent fundraising deals.

Top 20 outstanding fundraising deals in the past week

In the TOP 10 famous investments & sponsorship deals in the past week, we have:

  • 4 projects on NFT: Sorare, Dapper Labs, RCRDSHP, TakerProtocol.
  • 3 DEX projects: Orca, Portal Finance, SundaeSwap.
  • 2 projects about Tools: Grape Protocol, LayerZero.
  • 1 project about Lending: Minterest.

It can be seen that although NFT’s trading volume has decreased somewhat, the NFT’s fundraising market is still very hot, especially attracting many investment funds in the traditional financial market.

Now we will dive into the investment information of each project. Here, I divide investment projects into 2 types:

  • Projects already have Tokens.
  • Projects that do not have Tokens.

Projects that already have Tokens

Projects that already have Tokens and still receive additional investment, prove that the project has new products, new segments, and needs more money to develop.

This news will greatly affect the nature and price of the token, please refer to it for more investment perspectives.

Orca invested $18 US

What is Orca?

Orca is one of the first decentralized exchanges (DEX) on Solana. After the fundraising announcement, the ORCA token increased very quickly, from $5 to $17.

Famous Funds participating:

  • Three Arrows Capital: One of the oldest and largest investment funds in the market, focusing on investing in the DeFi market on Ethereum.
  • Solana Capital: The company that developed the Solana Blockchain.

Purpose of fundraising: The funding not only makes financial sense as it not only helps Orca develop its AMM platform, but also helps Orca gain more large investors, strategically supporting it in the future.

Grape Protocol raised $1.8 M rounds of seed

What is Grape Protocol?

Grape Protocol is a project to develop a toolkit for a Decentralized Social Network on Solana.

Famous Funds Participating

  • Solana Capital: The company that developed the Solana Blockchain.
  • Multicoin Capital: An investment fund with an in-depth research team, invested by Binance.

Purpose of fundraising: Funds raised will be used to attract more staff and develop Grape Protocol’s infrastructure.

Projects without tokens

Projects that do not have Tokens that receive investment will help the project develop and build the basic foundations of that project.

For the project itself, the supporters in this phase are very meaningful to them, so the list below does not help you in investing, but helps you select potential projects to learn about. first, look for opportunities such as participating in Testnet, IDO,… .

Below is a list of projects that have not received an investment token in the past week.

Sorare raised $680 M in Series B

What is Sorare?

Sorare is an exchange NFT focus on the NFTs in the field of sports. This is the record for Series B funding in the history of technology companies in France.

Famous Funds and participating KOLs: Similar to OpenseaSorare’s fundraising round has successfully attracted many large investors in the traditional financial market, some prominent names such as:

  • SoftBank: Japanese multinational telecommunications company and Internet corporation.
  • Alexis Ohanian: Co-Founder Reddit.

Purpose of fundraising: This funding will help Sorare further upgrade its NFT platform, cooperate with more athletes, promote marketing and develop mobile App applications.

Dapper Labs raised $250 M in the latest round

What is Dapper Labs?

Dapper Labs is a famous company that has developed many big projects in NFT such as Flow, NBA Top Shot, Crypto Kitties, Crypto Punks, Meebits,…

Famous Funds Participating

  • a16z (Andreessen Horowitz): Fund that invests in leading technology companies in Silicon Valley.
  • GV (Google Ventures): Google’s investment fund.

Purpose of fundraising: The proceeds will be used to partner with players at Laliga, developing Dapper Labs’ NFT business model.

Portal Finance calls for capital $8.5 EMA

What is Portal Finance?

Portal Finance is a trading platform Cross-chain and still ensure the confidentiality of that transaction.

Famous Funds participating: Many large investors participated in this round of funding, prominent among them are:

  • Coinbase Ventures: Ventures behind the current #1 exchange, Coinbase Exchange.
  • Okex Dream Fund: An investment fund of the Okex exchange.

Purpose of fundraising: The money raised this time will be used to expand Portal Finance’s team and accelerate the product roadmap to users.

Minterest raised $6.5 M in private round

What is Minterest?

Minterest is a protocol Lending.

Famous Funds participating:

  • Coinbase Ventures: Ventures behind the current #1 exchange, Coinbase Exchange.
  • CHK Ventures: CHK Finance’s investment fund.

Purpose of fundraising: The money raised in addition to developing the infrastructure, is also used to develop the community of Minterest.

LayerZero raised $6 M in Series A

What is LayerZero?

LayerZero is a protocol that supports interaction, connecting Blockchains together.

Famous Funds Participating

  • Binance Labs: An investment fund that supports start-up projects of the Binance exchange.
  • Multicoin Capital: An investment fund with an in-depth research team, invested by Binance.

Purpose of fundraising: LayerZero will use the money to fully develop the protocol, and expand the ecosystem of LayerZero.

RCRDSHP raised $5 M in seed round

What is RCRDSHP?

RCRDSHP is an NFT platform for electronic music.

Famous Funds Participating

  • Dapper Labs: a famous company that has developed many big projects in NFT such as Flow, NBA Top Shot, Crypto Kitties,…
  • Metakovan: Largest NFT collector on the market.

Purpose of fundraising: The support from many large investors initially is the basis for RCRDSHP to thrive in the future.

TakerProtocol raised $3 USD

What is TakerProtocol?

TakerProtocol is a liquidity creation protocol for NFTs.

Famous Funds Participating

  • Spartan Group: Not only is a famous investment fund in the market, but also works as an Advisory for large projects such as Dapper, Blockfolio, Solana,….
  • The LAO: An investment fund managed by the community, focusing on investing on Ethereum.

Purpose of fundraising: The money raised will help TakerProtocol develop its human resources and infrastructure.

SundaeSwap raised $1.3M seed round

What is SundaeSwap?

SundaeSwap is a decentralized exchange developed on Cardano.

Famous Funds and Participating KOLs

  • cFund: A venture capital fund backed by IOG, the founding organization of Cardano.

Purpose of fundraising: SundaeSwap will have a lot of potential to grow on the Cardano ecosystem, a very new ecosystem.

Conclude

Above are the TOP 10 outstanding investment deals in the past week. Hopefully through this article, you will have an overview of the projects that have raised capital during the week. Which deal impressed you the most? Please comment below to discuss with CHK!

The “Investment & Funding” series is a weekly series, you can review the article about “Investing & Funding” last week in the recommendations section below. See you guys in the next numbers.

Don’t forget to follow the column Investment Fund – VC to get the fastest updates on all investment & funding deals weekly, helping you realize the development potential of projects for timely investment decisions!

Disclaimer: All information contained in this article is intended to provide readers with the latest information in the market and should not be considered investment advice. Crypto investment is a very risky form of investment, readers need to learn carefully before investing and should only participate with the amount of capital that can be lost.

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