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

July 30, 2023 01:00 pm

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.

“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.

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