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$151 million was raised in this week’s crypto fundraising. Openfort has secured $3 million for him to develop a service product for Web3 games. Participants in the seed funding round are Maven11, Game7, Gumi cryptos Capital, NCG Ventures and Newman. Openfort was founded by Joao Alavedra and Jaume Alavedra. It focuses on providing infrastructure for cryptocurrency trading in popular games.
The technology Openfort uses is the account abstraction. This technique uses smart contracts to initiate the transaction process. This technique provides an easy and user-friendly gaming experience. Extraction gas fee will be charged separately. A user can trade using his ERC 20 tokens.
Pomerium secured $20 million. Web3 game developer.
Worldcoin Raises $115 Outside Crypto Bear Market
This funding is raised during bear markets. It is when asset prices fall from their highs. This low level is likely to persist for an extended period of time. The average duration of a bear market is 292 days, significantly shorter than a bull market.
Adding to the crypto bear market, blockchain-based financial network Worldcoin has raised $115 million in its Series C funding round. The round was led by Blockchain Capital Ltd, with investors including Bain Capital Crypto and Distributed Global.
Worldcoin is built by technology companies as a tool for humanity. It is built with the intention of inheriting the DAO structure. An Ethereum-based token, the currency is distributed freely to people.
Fundraiser such as Semafor, LabDAO, Num Finance
Among other notable fundraiser is the news site Semafor. It raised $19 million in exchange for funding it first received from FTX’s Sam Bankman-Fried last June. He returned the $10 million he received from Bankman-Fried in January.
Other investors in this round are H20 Scouter Fund, Ripio Ventures and Auth0. LabDAO raised $3.6 million in a seed round, Sort raised $3.5 million in a seed round, and Num Finance secured a $500,000 investment in a pre-seed funding round.
Latin American startup Num Finance is a local stablecoin issuer. Focus on developing real-world asset offerings and lending while ensuring stability and security.
Web3 development benefits games
All crypto funds raised will be used for the development of Web3. It aims to improve the user experience with a safe and convenient system. This allows personal interaction between the user and her website. Since the data is stored on the blockchain, it will be immutable. This makes Web3 ideal for financial services, gaming, and other industries.
Web3 development definitely reduces the costs associated with developing dApps. Works on a distributed ledger. Hence, there are no third-party intermediaries, which reduces commission costs.
Recognizing the importance of web3, the above companies participated in seed funding. The two companies aim to provide and leverage opportunities for security, greater data control and cost savings. Controlling assets such as character skins and other items enhances interoperability between games and platforms.
Nancy J. Allen is a cryptocurrency enthusiast and believes that cryptocurrencies encourage people to be their own bank and step away from traditional currency exchange systems. She is also interested in blockchain technology and its capabilities.
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