Crypto funding: A $44M week for up-and-coming Web3, blockchain scalers
Web3 gaming and social media development brought home a few raises of their own this week

Skrypnykov Dmytro/Shutterstock modified by Blockworks
Crypto firms announced fundraising more than $44 million in fresh capital, but one raise was a clear standout among all the rest.
Hi, a burgeoning Web3 ecosystem, raised $30 million from Animoca Brands.
Hi has a litany of listed products on its website, ranging from a crypto exchange to a savings program that offers annual percentage yields.
The partnership between Hi and Animoca will focus on the Hi payments app, which isn’t available in the US, and its layer-2 protocol.
Read more: Mastercard, Hi Launch NFT-customized Debit Cards as NFT Interest Dips
“We are looking forward to investing in and partnering with Hi, which is committed to bridging the gap between the fiat and cryptocurrency worlds,” Yat Siu, co-founder and executive chair of Animoca Brands, said in a statement.
Scaling in focus
EthStorage secured a $100 million valuation with the successful completion of a $7 million seed round.
Crypto investor dao5 led the round with participation from SevenX Ventures, Sky9 Capital, Foresight Ventures, among others.
EthStorage, a layer-2 storage rollup that’s under development, is trying to scale Ethereum’s storage from the terabyte level to the perabyte level, according to its website. A perabyte is about 1,000 terabytes.
Other notable fundraises
- Web3 game developer Delabs raised $4.7 million.
- Releap, a decentralized social graph, brought in $2.1 million.
Get the news in your inbox. Explore Blockworks newsletters:
- Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
- Empire: Start your morning with the top news and analysis to inform your day in crypto.
- Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
- 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
- Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
- The Drop: For crypto collectors and traders, covering apps, games, memes and more.
- Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.