Crypto winter isn’t putting off VCs from investing in Web3 (+ find perks for NFT Paris inside)
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GM, Web3 buddy 🖖
Welcome to Epic Web3 Newsletter — your weekly dose of actionable insights from the major Web3 experts. Every Monday at 10 AM (WET/GMT) we take your products TO THE MOON 🚀
In this episode you’ll find ticket discount for NFT Paris — just be patient, and read it to the end 😉
🔥 You say it’s bear market — we say it’s high time
Yes, the crypto winter almost froze the sector of investment and we witnessed VC funding shifting away. However, there’s also a good part: bad players who only entered the space for fast money are gone, and the path for sustainable development is cleared.
Moreover, according to Robert Le, a senior analyst at data and research firm PitchBook, VC investors are still betting on Web3. During the third quarter of 2022, VCs invested around $1.5B into Web3-based companies. Of course, funding may be down comparing to 2021, but Web3 is still a space that excites investors and many see huge potential in the sector.
Top five Web3 fundraising deals
We’ve picked up five of the largest deals in Web3 that we found interesting (as for the year of 2022) — just to remind you that even the bear market is not an excuse to give up. Who knows, maybe you're gonna lead the next top?
1️⃣ Mysten Labs ($300M in a funding round led by FTX)
The startup was founded in 2021 and now provides infrastructure to accelerate Web3 adoption, building out its Sui blockchain. The Series B round also saw participation from big players — a16z crypto, Apollo, Binance Labs, Coinbase Ventures and others.
2️⃣ M² or MSquared ($150M in funding led by Andreessen Horowitz and SoftBank Vision Fund 2, followed by other Web3 and crypto investors)
This startup was initiated by Improbable, a metaverse technology company, as a planned network of interoperable metaverses. Their mission is to help create better metaverse experiences and to bring interconnected virtual worlds to life.
3️⃣ LayerZero Labs ($135M in a round co-led by Sequoia Capital, FTX Ventures and Andreessen Horowitz, followed by other prominent VCs)
Designed to unite decentralized applications across blockchains, this Web3 startup unlocks a future of blockchains without borders — at least that’s what Ryan Zarick, their CTO and co-founder, said. Users can interact with omnichain dApps that exist on multiple blockchains, and these dApps will seamlessly communicate over LayerZero without the user even realizing it.
4️⃣ Magic Eden ($130M in a Series B round co-led by Electric Capital and Greylock Partners)
The NFT marketplace was launched just 1.5 years ago but in June 2022 its valuation already reached $1.6bn! “These numbers more than ever validate the industry and market we’re in. There's an investor appetite to bet on this market,” shared Zhuoxun Yin, COO of Magic Eden.
5️⃣ 5ire ($100M in Series A funding at $1.5bn valuation from SRAM & MRAM Group)
5ire is a Web3 startup, a fifth generation Layer-1 blockchain network, and the fastest-growing unicorn in India. “We are on a mission to embed sustainability into blockchain and shift the current paradigm from 'for-profit' to 'for-benefit’,” shared Pratik Gauri, their CEO and Founder.
P.S. We invited Pratik Gauri to speak at Epic Web3 Conference this June! Why don’t you meet him & learn valuable insights?
💡 Where to get more data on deals in the decentralized space?
Go to Messari — it provides access to 3000+ funding rounds ranging from pre-seed to secondary.
👀 Are you also a Web3 founder? We’d like to give you an opportunity to raise funds & get your product to the Moon!
👉 You can apply as a startup at Epic Web3 Conference and save 50%, which will bring you:
— 2 tickets for the price of 1
— Meetings with top VCs and Accelerators & 1:1 networking sessions with investors
— Access to exhibition floor with 40+ curated talks
— Speed consultations with Web3-pure experts
— A chance to be selected for the Pitch Competition and present your startup on stage in front of VCs and investors
— After-party fun
This is the time to find investors and build useful connections. And we’re here to help you. But hurry up to secure your spot — we’ve got only a limited number of Startup Passes.
🧞♂️ What’s the buzz about NFT Paris? Community Insights on why you should go to France this February.
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It doesn't matter what time of the year it is, Paris is always a lovely place to visit. But this February it’s particularly special. Not just for Valentine's Day, but also because this month the biggest NFT event in Europe takes over the city. And it’s NFT Paris.
— What is NFT Paris?
NFT Paris 2023 is a real-life conference that provides a unique meeting point for traditional brands and NFT players. Their mission is to reinvent existing models and build a bridge to discuss upcoming NFT trends, covering all things from Fashion, Art, Finance, Gaming, Music and Media, and more.
Date: February, 24-25th
Venue: Grand Palais Ephémère (close to the Eiffel Tower)
— Why do we find it valuable?
During the event, you’ll be able to attend conferences with major NFT players and experts, as well as:
🔸 Meet NFT pure-players from Yuga Labs, Bored Apes Yacht Club, Animoca Brands, The Sandbox, NFT Now, Sorare, and more.
🔸 Enjoy the discussion platform between NFT experts and the executives of major pioneering brands that are committed to building the Web3, such as LVMH, L’Oréal, Shopify, Warner Bros and Volkswagen.
🔸 Join the side events and stands: the biggest brands will present their latest products.
🔸 Explore exciting areas and collect NFTs in the Collectible Village, Gaming and Metaverse Corners, and more.
— How to get 30% off on tickets?
Specially for Epic Web3 Subscribers, we asked for a sweet discount. Just click the button below — the link already includes a 30% discount for the “General Attendee” option.
See you there? 😉
P.S. To get more info about speakers and the agenda, visit the website.
Alright, that’s all for today! 👋 But wait…
You didn’t say “gm” on Twitter! Let’s catch up there for daily insights.
Until next time,