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

article-image

Skrypnykov Dmytro/Shutterstock modified by Blockworks

share

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:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (3).png

Research

Pear Protocol has proven its market fit through its pair-trading infrastructure, sustaining consistent trading activity despite recent headwinds. Its strategic pivot toward Hyperliquid integration represents a major growth catalyst amid industry consolidation. While short-term token unlocks present challenges, current valuations and liquidity conditions may offer compelling opportunities for investors.

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors

article-image

The ETH products have notched $3.6 billion of net inflows from July 1 to July 22, Farside Investors data shows

article-image

With these levies, it’s cheaper for Japanese manufacturers to send cars to the US than it is for domestic makers to import parts from other countries