Immutable raises $200M. UNXD raises $4M. ETHsign raises $12 million. Cega raises $4.3M.
Recap of the Week
USDF stablecoin consortium expands to eight banks
Joe Biden signs an executive order outlining a new whole-of-government approach to utilizing digital assets and blockchain
Bain Capital launches a $560M fund to invest exclusively in crypto
Crypto.com airdrops LeBron James NFT collection to 5,550 randomly selected viewers of its Super Bowl commercial
Privacy coins like Monero and Zcash spike due to Russians buying privacy coins to preserve their purchasing power
The Sandbox funds World of Women foundation for NFTs
Papa Johns launches its first NFT collection of 19,840 NFT Hot Bags
Stripe will offer support for crypto businesses like exchanges, wallet providers, and NFT marketplaces
Latest Funding Rounds in Crypto
🔹 Immutable raises $200M in Series C · Founded in 2018 · Australia
Immutable is a layer-2 scaling solution for NFTs on the Ethereum network
The company plans to put this capital toward developing its Immutable X solution, expand globally, scale its team and explore M&A.
Immutable X uses StarkWare’s StarkEx zero-knowledge proof technology to achieve scalability on Ethereum with zero gas fees and a being carbon-neutral.
Round led by Temasek Holdings. The round was raised at a valuation of $2.5B.
🔹 UNXD raises $4M in Seed Round · Founded in 2021 ·
UNXD is a curated marketplace for digital luxury and culture.
The Polygon-based metaverse fashion company calls itself a “business-to-business-to-customer” platform, collaborating with established brands while creating its own NFT collections and marketplace.
Upcoming launches for UNXD include a Dolce & Gabbana release, as well as an NFT collection with Jacob & Co.
Round led by Animoca Brands, Polygon Studios and Red DAO.
🔹 ETHsign has raised $12 million in Seed Round · Founded in 2019 · US
EthSign a decentralized, electronic signing platform built on Ethereum.
It allows users to sign and manage agreements electronically. Users can log in to EthSign via crypto wallets such as MetaMask, upload documents, and electronically sign it.
EthSign is planning to use the funds to launch an execution platform called Smart Agreements. It will allow users to execute signed agreements via smart contracts based on predetermined conditions.
Round led by Sequoia VC.
🔹 Cega raises $4.3M in Seed Round · Founded in 2022 ·
Cega is a DeFi application built on Solana that creates exotic derivative contracts as well as consumer-facing staking products for the retail audience.
The funds will be used to accelerate the development of Cega’s technology as well as to create a community focused on expanding product offerings, calibrating statistical models, and educating users about DeFi and derivatives.
Round led by Dragonfly Capital Partners with participation from Pantera Capital, Coinbase Ventures and more. The round was raised at a valuation of $60 million.
Acquisitions
🔹 Blockdaemon acquires Gem
Terms were undisclosed
Blockdaemon is a blockchain deployment facilitator that manages nodes and payment rails for blockchain networks.
Gem is an application programming interface (API) company that offers fiat-to-crypto on-ramps and off-ramps, or bridges between fiat and digital assets. The company also offers a trade data aggregation service and a KYC product.
The acquisition’s aim is to integrate Gem’s on and offboarding solutions.
🔹 Public.com acquires Otis
Terms were undisclosed
Public.com is an investing platform that empowers members to build a diverse portfolio of stocks, ETFs, and crypto.
Otis is a marketplace that lets anyone invest in exclusive alternative assets including NFTs and sports memorabilia.
Public.com aims to be a place where people can invest in any fractional asset. That means NFTs, art, collectibles, real estate, crypto, funds, stocks, and more.