Crypto Funding Highlights: Investments in Web3 Gaming, Ethereum Scaling, Bitcoin Infrastructure, and Decentralized AI

In a week filled with exciting developments in the world of cryptocurrency funding, several projects stood out for their significant investments and strategic moves. One of the highlights was the takeover of Block Mining by Riot Platforms, a Bitcoin mining firm, in a deal worth $92.5 million. This acquisition is expected to boost Riot’s operational capacity by 60 megawatts, with plans to expand further in the coming years.

Another standout was NPC Labs, a web3 gaming infrastructure startup, which raised $18 million in a seed funding round led by Pantera Capital. The project aims to increase the adoption of on-chain gaming through its gaming scaling ecosystem, B3.fun, built on Base.

Caldera, a web3 infrastructure platform, also secured $15 million in a series A funding round led by Founders Fund. The U.S.-based startup helps developers launch Ethereum rollups or scaling networks with ease, boasting clients with a total value locked of over $800 million.

Igloo Inc., the parent company of NFT project Pudgy Penguins, raised $11 million to develop Abstract, a new layer-2 scaling network on Ethereum. The funding round was led by Founders Fund and will be used to establish a new entity, Cube Labs, to oversee the development of Abstract.

Lastly, Bitlayer, a Bitcoin Layer-2 startup, successfully raised $11 million in its series A funding round, with Franklin Templeton and ABCDE leading the investment. This marks a significant milestone as Bitlayer becomes the first Bitcoin Layer-2 project to receive strategic investment from an ETF-licensed institution.

Overall, the week’s crypto funding activities totaled over $210 million, with other notable rounds including aPriori, Mezo, OpenSocial, DAOBase, Network3, and Redpill AI securing significant investments. The growing interest and support for projects in the crypto space highlight the continued evolution and innovation within the industry.