South Korea’s Leading Crypto Venture Made 29 Investments in 2023, Allocating $28.44 Million in Total
Hashed, South Korea’s largest crypto venture, has invested 36.8 billion won ($28.44 million) in blockchain projects this year.
Despite the challenges faced during the prolonged crypto winter, Hashed successfully forged numerous new investments in blockchain infrastructure and gaming projects throughout the year, according to a recent report from Econovill .
The focus was primarily on early-stage ventures with the potential to attract more users by enhancing blockchain infrastructure and integrating content and intellectual property rights (IP).
In total, Hashed made 29 investments, with a relatively equal distribution across sectors.
Blockchain infrastructure, games, and finance each accounted for 21% of the investments, while IP and content-related startups received 15% of the allocations.
Additionally, Hashed invested in a diverse range of early-stage startups capable of leveraging blockchain infrastructure in various fields such as O2O platforms, sharing economy initiatives, and artificial intelligence startups.
Geographically, Korea held the largest share at 38%, followed by North America at 21%, Europe at 7%, and other Asian regions including Singapore at 34%.
Among the investments were 20 new companies, mostly early-stage startups ranging from seed to Series A stages.
These included Radius, a shared sequencing layer developer, Decentralized Gaming Ventures (DGV), a web 3.0 game venture studio, Another Ball, the operator of the Virtuber platform Izumo, and DeLabs, a Web3 gaming studio.
Furthermore, there were nine follow-up investments in companies such as Archway, a Cosmos-based DApp developer compensation layer-1 project, Payhere, a mobile-based POS platform, and DFNS, a decentralized API solution
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