Venture Capital (VC) firms continue making strategic investments within the nascent crypto sector. It now seems like their main focus slowly shifting towards infrastructural development within Web3, Play-to-Earn (P2E), the Metaverse, and gaming finance (GameFi).
Notable Venture capital firms such as Pantera, Coinbase Ventures, Alameda Research, ConsenSys, and Crypto.com have already made their way to Web3 projects, with many others expected to join in the coming weeks.
Pantera Leads $32.9M Subspace Funding Round
Subspace Labs, the creator of a popular fourth-generation protocol working on scalability and computing capacity without sacrificing decentralization, recently announced the completion of its funding round. This round successfully secured $32.9 million.
The funding initiative that was led by Pantera saw the participation of Coinbase Ventures, Crypto.com, Alameda Research, and ConsenSys, among others. These venture capital firms appear to be getting ready for the Metaverse, which inspires them to invest in Web3 projects.
Subspace Labs now wants to advance its ongoing growth initiative, including scheduled future integration with large blockchain networks like Ethereum, Polkadot, and Kusama. Notably, the network also intends to develop non-fungible tokens (NFTs), GameFi, and Metaverse sectors.
The team appears committed and ready to deliver the task ahead.
Jambo Raises $7.5M In Funding Round To Boost Crypto Economy In Africa
Jambo, a Web3 application developer, recently raised $7.5 million in a successful seed funding round. The company said that it will use the funds to advance its crypto-focused personal finance portal for the African economy Superapp.
Jambo startup saw the participation of some of the biggest and most notable venture capital firms, including Delphi Ventures, Coinbase Ventures, Three Arrows Capital, Alameda Research, Polygon Studios, and Yield Guild Games.
The team behind Jambo said that it intends to use the acquired money to bridge the economic gap between Africa and the rapidly growing Web2 economy that is currently powered by various blockchain networks.
Haruko Secures $10M In A Seed Funding Round
Haruko, a renowned crypto investment infrastructure provider, has closed a $10 million funding initiative that was led by venture firms Portage Ventures and White Star Capital.” Haruko said that it plans to use the secured funds to finance the development of a back-end solution.
Their solution will bridge the gap between institutional capital and the general crypto industry. Furthermore, it intends to expand technological solutions to hedge funds and crypto-native banks in a more familiar setting.
Gamepay Raises $1.2M To Expand In Web3 And Metaverse
Gamepay, a metaverse company, recently announced pre-seed capital funding that successfully secured $1.2 million to expand its play-to-earn (P2E) non-fungible tokens (NFTs) gaming sector.
The funding initiatives led by Seier Venture Capital saw additional participation from 8i Holdings. Notably, the gaming platform will use the secured funds to develop its NFT marketplace for P2E games.
As is evident, more venture capitalists and hedge fund managers are turning their attention to Web3 and P2E-remated projects. It means that they are preparing to be at the forefront in adopting and investing in the potential opportunities that the metaverse is expected to offer.
