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VC Monthly Report：The amount of financing in July fell 48% from the previous month, focusing on the infrastructure
Author: Joey Wu
According to Dove Metrics, there were 160 public investments by crypto VCs this month, down 16% MoM (191 projects in June 2022) and up 54% YoY (104 projects in July 2021). The secondary category is as follows.
The infrastructure sector saw a significant increase in funding this month, accounting for 31%, while CeFi, DeFi and NFT/GameFi each accounted for approximately 20%, 27% and 24%.
Total funding for the month was $1.91 billion, down 48% MoM ($3.67 billion in June 2022) and down 42% YoY ($3.31 billion in July 2021). This month was the first time this year that the amount of funding was negative compared to last year. The top 8 funded projects (excluding CeFi) are as follows.
Aptos, a new public chain developed by the former Meta core team, uses a new development language called Move. Aptos is the most visible project since the second quarter, having already received investment from top institutions such as a16z, FTX Ventures, Coinbase Ventures and Binance Labs in March. This month it closed a $150 million round of funding led by FTX.
Gnosis safe is an on-chain multi-signature wallet protocol on Ethereum, launched in 2018 and renamed Safe this month. As the leading multi-signature project on Ethereum, Safe serves over 90% of Dapps, DAOs, and institutions in the Ethereum and EVM ecosystem, hosting approximately $76 billion in assets. It closed a $100 million funding round this month, led by 1kx.
Halborn is a blockchain security company that provides end-to-end cybersecurity services and security testing of Layer 1 blockchains including Solana, Cosmos and Substrate for security audits. It closed a $90 million round of funding this month, led by DCG.
Unstoppable Domains is a domain name registration service focused on the Ethereum and Polygon networks, and currently has over 240,000 users and over 2 million domains registered on the platform ending in .crypto, .nft, .wallet, and more. Unlike other domain name platforms, Unstoppable's domain names are valid for life, require no renewal, and can be transferred without an escrow agent, with a current minimum registration fee of $5. The company closed a $65 million round of funding this month, led by Pantera Capital.
VeeFriends is a social NFT project created by Gary Vaynerchuk, where NFT holders can become members of the VeeFriend community. Community members can enjoy tickets for three consecutive years (2022, 2023, 2024) to the VeeCon event, which will focus on business, marketing, creativity, ingenuity, entrepreneurship, innovation, competition, and of course, entertainment. The $50 million funding round closed this month and was led by a16z.
Seed, a space colonization game developed by Klang Games, is set in the Avesta New Worlds and offers players a self-driven, self-managed and contributing community platform through AI technology. Seed is using Improbable's SpatialOS platform. It closed a $41 million funding round this month, led by Animoca Brands, which will be used to expand its workforce from around 70 to 150 people.
Planetarium Labs is building a gaming ecosystem based on Libplanet blockchain technology, supporting games to run their specific blockchain networks with the freedom to design their governance models and token economics. It closed a $32 million Series A round of funding this month led by Animoca Brands.
Farcaster, a decentralized social networking protocol that allows users to freely move their identities between social applications, has released an initial version of the protocol and client, and is currently working on a Farcaster v2 release with plans to launch later this year. It closed a $30 million round of funding this month, led by a16z.