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

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Skrypnykov Dmytro/Shutterstock modified by Blockworks

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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.

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