During the period from February 3rd to February 9th, a total of 20 investment and financing events occurred in the cryptocurrency market, including 4 in infrastructure, 6 in DeFi, 4 in the BTC ecosystem, 2 in payments, 1 in GameFi, 1 in social, 1 in creator economy, and 1 in security solutions.

There were 2 financing events of over tens of millions of US dollars this week:

Oobit completed a $25 million Series A financing, with Tether as the lead investor.

L1 blockchain Nibiru Chain completed a $12 million financing, with participation from Kraken Ventures and others.

The investment and financing heat in the cryptocurrency market continued to rise this week, with the most financing events in the DeFi sector, followed by active performance in the infrastructure and BTC ecosystem financing. The payment sector harvested the largest amount of financing.

The investment and financing projects this week are sorted by financing amount as shown in the following figure:

Infrastructure

According to Foresight News, the cryptocurrency financial services company BitGo announced the acquisition of private securities and alternative investment infrastructure provider Brassica as part of advancing the RWA tokenization field. BitGo and Brassica declined to disclose the specific terms of the transaction.

According to ChainCatcher, the Ethereum Layer2 network LightLink announced the completion of a $4.5 million seed round of financing, with lead investments from Thai media company T&B Media Global and real estate developer MQDC, and participation from JellyC, Aweh Ventures, Blue7, and B3V. It is reported that LightLink's technology will support a project called "Translucia," which "integrates the virtual world and the real world."

According to Tech in Asia, Singapore Web3 company Startale Labs completed a $3.5 million Series A follow-on financing, with participation from UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures, with a post-investment valuation of $63.5 million. Startale Labs was founded in January 2023 and specializes in Web3 infrastructure development.

According to Chainwire, Layer1 blockchain project Nibiru Chain announced the completion of a $12 million financing, with participation from Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital, and Banter Capital. Nibiru's community sale on CoinList sold out the initial $3 million in 9 minutes. An additional $3 million delayed sale also sold out in 11 minutes. As of the end, this sale has prepaid interest of 842%, attracting 42,713 registrants and over 5,000 NIBI token buyers. Nibiru Chain is an L1 blockchain and smart contract ecosystem. In 2024, Nibiru Chain aims to expand the ecosystem. Key developments include various initiatives such as gamified participation airdrops, integration with major liquidity centers, listing on multiple centralized exchanges, implementing parallel optimistic execution, and achieving full EVM compatibility. This year, Nibiru Chain is expected to launch flagship dapps such as Nibi-Perps, Nibi-Swap, and NUSD.

Payments

According to PANews on February 7th, according to Axios, micro-payment startup Code completed a $6.5 million seed round of financing, co-led by M13 and Union Square Ventures (USV). Code has launched an app to facilitate online micro-payments. Code is based on the Kin (KIN) cryptocurrency, with a value calculated in thousandths of a penny, designed to make the consumption of small funds very easy. In addition, the team has also released a developer platform and is about to launch a new blogging tool that allows anyone to earn rewards through writing.

According to Odaily, the cryptocurrency payment app Oobit announced the completion of a $25 million Series A financing, with lead investments from Tether's investment institution, Titan Fund under CMCC Global, 468 Capital, and Anatoly Yakovenko, co-founder of Solana. However, the Singapore-based company declined to disclose the specific valuation of this investment. Oobit revealed that the company plans to open up cryptocurrency payment functionality to third-party wallets, potentially transforming Oobit into a non-custodial cryptocurrency payment app.

DeFi

According to Foresight News, according to The Block, DEX aggregator Flood on Arbitrum completed a $5.2 million seed round of financing, co-led by Bain Capital Crypto and Archetype, with participation from Robot Ventures. This round of financing will be used for business development and engineering functions. The financing structure includes token warrants with equity. As a co-lead investor, Bain Capital Crypto will serve as an observer at Flood.

According to Foresight News, according to The Block, cryptocurrency startup Superform Labs completed a $6.5 million seed and angel round of financing, with Polychain Capital leading the seed round, and participation from BlockTower Capital, Maven 11, Circle Ventures, as well as angel investors such as Arthur Hayes, Marc Bhargava, Avi Felman, Michael Bucella, and Bryan Pellegrino. The seed round of financing was completed in November 2022, with a financing structure including token warrants with equity. Superform Labs has launched the cross-chain yield market Superform, which allows DeFi protocols to list their treasuries or asset pools, enabling users to deposit funds into treasuries and earn yields, already supporting networks such as Ethereum, Arbitrum, Optimism, Base, Polygon, Avalanche C-Chain, and BNB Chain, with plans to expand to other blockchains in the future. Superform is scheduled to be publicly released in the first quarter and has launched the SuperFrens reward program.

According to BroadChain, on February 6th, DeFi protocol Folks Finance announced the completion of a strategic round of financing, with participation from Algorand Ventures. The financing will be used to expand its product suite technology and expand the impact of the Algorand ecosystem through cross-chain bridging and asset expansion. Previously, Folks Finance received financing from Borderless Capital, Jump, Parafi, and Coinbase Ventures.

According to Foresight News, according to The Block, Filecoin's liquidity leasing protocol Glif completed a $4.5 million financing, with lead investment from Multicoin Capital, and participation from Zee Prime Capital, Fintech Collective, Big Brain Holdings, Protocol Labs, and other investors. Glif will launch a reward program at the end of the first quarter of 2024, providing users with points. To obtain points, Glif users need to deposit FIL and create Glif's native liquidity leasing token iFIL. Sources said these points will be used to determine the initial amount of tokens airdropped to users.

ChainCatcher reported that the Berachain ecosystem DEX protocol Kodiak Finance completed a $2 million seed round of financing, with participation from Amber Group, Shima Capital, dao5, DoraHacks, and others. Kodiak is a decentralized trading protocol on Berachain that combines centralized liquidity and automated liquidity management.

Foresight News reported that the Cosmos ecosystem liquidity staking protocol Stride announced the completion of a $4 million strategic financing, led by DBA, with participation from 1confirmation, Road Capital, Modular Capital, Imperator, Chorus One, and others. This financing aims to drive Stride's development in the Celestia ecosystem. Stride is a Cosmos staking protocol designed to bring liquidity staking to the Cosmos ecosystem.

BTC Ecosystem

ChainCatcher reported that Bitcoin infrastructure provider Omega announced the completion of a $6 million financing, with investors including Borderless, AlphaLab Capital, Psalion VC, Blockchain.com, Lightspeed Faction, Bankless Ventures, Blcokchain Founders Fund, Side Door Ventures, Humla Ventures, XBTO, MH Ventures, Wave Digital Assets, Hyperithm, Kronos, Cadenza Ventures, and others. Omega is dedicated to creating decentralized infrastructure, redefining the full-chain and Bitcoin DeFi. The new funds will be used to help launch Omega's Bitcoin Web3 infrastructure, the first decentralized solution that allows Bitcoin holders to generate income using their Layer1 BTC value without bridging, wrapping, or synthesizing, enabling native Bitcoin to be used in DeFi.

Foresight News reported that LK Venture, a subsidiary of Hong Kong-listed Blueport Interactive, announced a strategic investment in BiHelix, an infrastructure project in the Bitcoin RGB field, through its Bitcoin network ecosystem investment management fund BTC NEXT. Previously, LK Venture launched the $15 million Bitcoin network ecosystem investment management fund BTC NEXT in November 2023, focusing on investing in emerging crypto assets in the Bitcoin network ecosystem. BiHelix is built on the Bitcoin native blockchain, combining the RGB protocol and the Lightning Network to optimize node infrastructure in the Bitcoin ecosystem.

ChainCatcher reported that the Bitcoin Layer2 solution Merlin Chain completed a new round of financing, with participation from 24 institutions including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. This financing will be used for the continuous upgrade and optimization of Merlin Chain's infrastructure to better achieve asset and user interoperability between the Bitcoin Layer1 and Layer2 networks, enhancing liquidity and richness in its ecosystem. Merlin Chain focuses on Bitcoin-native solutions, integrating key modules such as ZK-Rollup networks, decentralized oracle networks, and Bitcoin chain fraud proofs, aiming to empower the native assets, protocols, and application ecosystems of Bitcoin Layer1 to continue innovating and amplifying asset potential on the Layer2 network.

Foresight News reported that the Bitcoin ecosystem composable DID protocol BRC-137 announced the completion of a $2.5 million seed round of financing, with participation from Basics Capital, DFG, Gate.io, JSquare, and others. The funds will be used to accelerate the development and growth of the protocol. According to the BRC-137 whitepaper, BRC-137 aims to build a DID ecosystem by introducing composable prefixes and suffixes to enhance asset liquidity. Additionally, the protocol introduces a royalty mechanism to promote the development and innovation of on-chain social patterns.

GameFi

Foresight News reported that Pixels, a project in the Ronin ecosystem chain mining program on Binance, officially announced a $4.8 million strategic financing, with participation from Framework Ventures, Collab+Currency, Volt Capital, Yield Guild Games, Sky Mavis, Tokenmetrics Ventures, Forj Network, Mechanism Capital, Fenbushi Capital, and individual investors including Nansen CEO Alex Svanenik. Previously, Pixels was the 46th new coin mining project launched on Binance, allowing users to deposit BNB and FDUSD into the PIXEL mining pool on the Launchpad website after 8:00 on February 9, 2024 to receive PIXEL rewards, with a total mining period of 10 days.

Social

Foresight News reported that the DID-based Web3 social tool DeBox has received investment from DWF Ventures and established a partnership, with the specific investment amount not yet disclosed. DeBox's previously launched joint curve subscription protocol Box has a trading volume exceeding $60 million, and DeSwap has nearly 100,000 transactions.

Creator Economy

According to Tubefilter, the creator economy platform GigaStar completed a $4.8 million seed round of financing, with participation from DV Crypto VC, Tomsic Holdings, Nameless Ventures, and Belvedere Strategic Capital. GigaStar's main product is GigaStar Market. GigaStar plans to soft launch this month and further deploy in the second quarter.

Security Solutions

ChainCatcher reported that blockchain security company FuzzLand announced the completion of a $3 million seed round of financing, led by 1kx, with participation from HashKey Capital, SNZ, Panga Capital, and others. FuzzLand stated that the funds will help accelerate the development of an automated solution for smart contract analysis using dynamic analysis and distributed computing software.

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