Web3 has been a major focal point for venture capital over the past 12 months. Although Web3 companies are said to be working on the next version of the decentralized internet, the concept remains vague and the industry behind it is still in its infancy.Huobi Global spun out a $1 billion investment fund
focused on decentralized finance and Web3 projects. Dubbed Ivy Blocks, the new fund was designed to identify and invest in “promising blockchain projects” across a range of crypto sub-sectors. Specifically, Huobi Global will focus on providing “liquidity investments” to help DeFi projects get up and running.
The DeFi sector deflated with the rest of the cryptocurrency market in 2022, but unlike centralized exchanges,From over $180 billion to $39 billion, DeFi total value locked has crated during the bear market. Source: DeFi Llama.launched a $725 million fund to support the development of its Flow blockchain. The fund received backing from a range of investors, including Andreessen Horowitz, Spartan Group and CoinFund. In addition to supporting the development community already building on Flow, the fund is being used to lure developers from other blockchains such as Ethereum.
Although Dapper Labs has produced some of the biggest nonfungible token collections in recent years, sales have lagged other layer-1 ecosystems due to weaker network effects and a smaller collection of decentralized applications.Crypto VC Dragonfly Capital closed its third funding round in April,to surpass its two previous rounds of $100 million and $200 million.
Sending regards to fellow investors that continue supporting projects in the current market 💪
Wen moon?
forgeforth_ You guys missed the $1,670,000,000 sacrifice for PULSECHAIN and PULSEX