To find out which areas are currently attracting investments from large organizations and funds, let’s take a look at some of the biggest new investments in the market right now.
The global increase in interest rates may limit the appetite of investors for high-risk cryptocurrency projects, but new projects are still thriving and attracting capital to accelerate their growth.
1. Orbital Raises $6.4 Million for Expanding Enterprise Blockchain Services
The enterprise cryptocurrency platform, Orbital, has raised $6.4 million (5 million euros) in a funding round led by the joint venture company Golden Record Ventures. Other investors include New Form Capital, GSRV, and Luminous Futures. This funding will be used to expand the development of Orbital’s product, specifically the blockchain payment infrastructure for traditional businesses. The company enables traditional businesses to accept cryptocurrency payments from their customers and convert them into fiat currencies like the US dollar, euro, and British pound. The company claims to process $250 million in transactions each month for its clients.
2. DeFi Protocol unshETH Secures $3.3 Million in Seed Funding
The unshETH project, a decentralized financial protocol focusing on Ethereum derivatives, completed a seed funding round worth $3.3 million in August. These funds were backed by Soma Capital and ICONIQ Capital, along with other investors, including Fan Zhang, the co-founder of Sequoia Capital China. The unshETH protocol encourages competition among Ethereum liquidity betting solutions to promote decentralization of validators. Its omnichain token is believed to support cross-chain transfers, including Ethereum, BNB Chain, and Arbitrum. The funds will be used to support the development of liquidity deposit-related features.
3. Web3 Creator ZTX Attracts $13 Million in Funding
The Web3 virtual world platform, ZTX, recently completed a $13 million seed funding round led by Jump Crypto, with participation from other investors including Collab+Currency and MZ Web3 Fund. ZTX is a collaboration between Jump Crypto and ZEPETO, one of the world’s largest metaverse platforms. Launched in 2022, ZTX recently introduced its first test release, a beta test by invitation only, on its upcoming 3D open-world platform. The newly raised funds will be used to support the development of Web3 infrastructure for creators in the 3D environment.
4. Stroom Network Invests $3.5 Million to Boost Bitcoin Betting
The Bitcoin liquidity betting protocol, Stroom Network, completed a $3.5 million seed funding round led by Greenfield, a Berlin-based cryptocurrency investment fund, with additional participation from Ankr’s joint venture branch, Mission Street. Operating on Bitcoin’s Lightning Network (LN), Stroom allows users to use their Bitcoin more easily on both LN and the Ethereum network simultaneously. These funds will be used to expand the operational capacity and release the protocol’s liquidity betting token on the Ethereum mainnet. LN is considered by many to be the most promising Layer 2 network for Bitcoin, with its current capacity at 4,743.97 BTC on 1ml.
5. Web3 Art Platform Fxhash Raises $5 Million in Funding
The digital art platform, Fxhash, has secured $5 million in initial investment led by Web3 1kx, with additional participation from Fabric Ventures, Bright Opportunity DAO, Tezos Foundation, and Union Square Ventures. This platform allows digital artists to create, list, and collect creative digital art—artwork created using computer code. The company claims its platform has generated over 2 million unique creative digital art pieces since its founding in 2021. Some blockchain observers see AI-generated art as the next major trend in the non-fungible token (NFT) space.