VC Roundup: Animoca leads NFT3 raise, Arca launches NFT fund and Alexis Ohanian broadens crypto exposure
Venture capital funding in the cryptocurrency market is showing no signs of slowing, as major investors continue to back promising startups in niche industries spanning the metaverse, nonfungible tokens (NFTs) and GameFi.
Cointelegraph’s new series, VC Roundup, provides a rundown of some of the biggest funding stories of the past few weeks. To stay informed on the latest developments from the world of blockchain business, be sure to register for our Crypto Biz newsletter, which is delivered to your inbox every Thursday.
Web3 identity network NFT3 raised $7.5 million in seed investments to continue building its decentralized identity and credit network platforms. The funding was led by Animoca Brands with additional participation from LD Capital, CMS Holdings, Tenzor Capital, Ankr Network, DFG Group, Prometheus Labs Ventures and others.
NFT3 is utilizing nonfungible tokens for Digital Identity Systems, also known as DIDs, which are considered to be the next frontier of digital identity in the Web3 age. Animoca co-founder Yat Siu described NFTs as being the “cornerstones of identity in Web3” and an increasingly important component of the metaverse.
Related: Polygon raises $450M in Sequoia-led funding round
Crypto-focused investment firm Hartmann Capital has raised $30 million for its metaverse fund, potentially opening the door to new investment opportunities in the emerging sector. The Hartman Metaverse Ventures I seeks to invest in various aspects of the metaverse sector, including infrastructure, content and access points. The company said it will back “early-stage token and equity deals” and pursue additional investment opportunities via its NFT portfolio.
Crypto asset management firm Arca has created a new hedge fund
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