Investors prefer games, the collective and the creative economy

November saw major funding rounds for early stage companies return to the charts with seed capital bolstering venture capitalists' confidence in crypto and Web3 projects.

Cross-Chain Protocol Wormhole, for example, received a $225-million investment at a $2.5 billion valuation. The round was led by Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital and Arrington Capital.

Another example of capital flowing into Web3 is Rockid. Backed by Temasek Holdings, the startup raised $112 million for global expansion, targeting next-generation virtual reality hardware solutions.

In addition, early-stage crypto startups cashed small checks in November, while BITKRAFT Ventures has given its hand to innovative economic platforms and game studios in recent weeks.

Cointelegraph's venture capital (VC) roundup shows some of the projects that raised capital in November.

Music collaboration platform Baton raises $4.2 million

Collaboration platform Baton has closed a $4.2 million funding round led by BITKRAFT Ventures with participation from Techstars, Dorm Room Fund, NUInnovation Venture Fund, Berkeley for Entrepreneurship, Dark Arts, Franklin Templeton and Harmonic Future. Baton plans to use this capital to expand its team and accelerate its product roadmap. The startup is shaping the key issues in the music industry and developing an ecosystem dedicated to delivering content “to the right ears at the right time” and encouraging collaboration and fair compensation for creators. “As a lifelong musician, I've seen how challenging it can be for even the most talented creators to support themselves from their work,” Baton CEO Gabe Warshaw said in a statement. ” Market opportunity.

⚡️@Baton_Media raised $4.2M in funding round led by @BitkraftVC with participation from @Techstars, @DormRoomFund, NYU's Innovation Venture Fund, Berkeley Entrepreneurship, DarkArts, @FTI_US, Harmonic Future and angels.

pic.twitter.com/Y9O3f7bcmy

— Fundraising Digest (@CryptoRank_VCs) November 15, 2023

Saga closes $5 million for race extension.

Layer-1 Protocol Saga has raised $5 million in a seed extension round led by venture capital firm Placeholder, along with Longhash Ventures, Scattered Capital, Redbeard Ventures, Tycoon Ventures and AVID3. The total funding raised by the company has reached $13.5 million. Funds will be used to expand the Saga team, build strategic partnerships and grow the Saga Innovator program, according to an announcement. In total, Saga says it has about 300 projects on the protocol, with the main network expected to go live in early 2024. The startup is about to launch its incentivized testnet Pegasus, which has processed more than 150,000 transactions and created 30,000 wallets. Two weeks to start.

Game studio Bazooka Tango has raised $5 million from BITKRAFT Ventures

Game studio Bazooka Tango has announced a $5 million funding round led by BITKRAFT Ventures with participation from RW3 Ventures, Sfermion, 1Up Ventures and others. Along with expanding the studio's team, the funding will accelerate the development of Shardbond's collectible tactical game. The startup was founded in March 2019 by Bo Daly and Stefan Sherman, former employees of Rockstar Games, Riot and Activision Blizzard. In addition, Bazooka Tango is collaborating with Mimitable Games on collectible tactical games.

Authentick raised $4 million for out-of-pocket purchases of collectibles

Authentick, a platform that offers wallet-free collection shopping, has announced $4 million in seed funding led by Singaporean venture capital Menyala. According to the press release, funds will be used for development and partnership. Authentick converts digital collections into formats compatible with e-commerce platforms, allowing users to purchase them as regular retail items. The platform recently announced partnerships with e-commerce giants such as Alibaba Lazada and Shopify.

Web3 gaming platform Intract raises $3 million

Web3 exploration platform Entract has received $3 million in seed funding from Alpha Wave, BITKRAFT, Gumi Cryptos Capital, Polygon, DeVC, MoonPay, Web3 Studios and Tokentus Investment AG. The startup offers community engagement solutions, allowing users to earn tokens and scrap tokens by participating in missions, challenges and events. Key partnerships include Binance, Polygon and 1inch.

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