Boardroom’s latest Metaverse VC Roundup highlights the top venture capital deals and trends across the market this year.
A year to remember in the metaverse VC world, 2022 saw investments and fundraising totaling millions (and occasionally billions) of dollars.
When the video game and software producer was looking to further its goals, particularly to create digital sports fan experiences and other virtual production projects, Epic Games secured one of the largest deals. This was a significant one, although the flow of venture capital was fluctuating greatly in different regions. What hasn’t changed is that businesses continue to invest money in this risky yet forward-thinking sector.
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mple and sweet by laying out the top crypto funds and Web3 venture capital deals announced in 2022.
Web3’s $4.5 billion cryptocurrency fund is one of the top 5 new funds investing in it. The Silicon Valley company created its fourth cryptocurrency fund to invest in blockchain and cryptocurrency businesses. To invest in middle- and late-stage metaverse firms, the blockchain and gaming industry pioneer established the Animoca Capital fund. To continue funding cryptocurrency entrepreneurs, the VC firm with a focus on the industry created its third venture fund. In order to take advantage of the slowing cryptocurrency market, cryptocurrency exchange Binance established its own venture capital fund under its VC arm. With a goal of investing all of the funds by the middle of 2023, the company is investing in cryptocurrency businesses utilizing its third crypto fund.
In addition, a bunch of Web3 VC deals closed this year. These were the most impactful:
Top 10 Web3 VC deals from 2022:
The parent business of Bored Ape Yacht Club secured substantial funding to create Otherside, an NFT metaverse. The Berlin-based soccer gaming and media company raised the cash necessary to grow, make investments in Web3 businesses, and establish OneFootball Labs, a partnership with Animoca Brands and Liberty City Ventures.
$300 million invested by Mysten Labs The cryptocurrency business completed the financing with a $2 billion value. (We’ll have more on FTX’s investments and what will happen to them in the near future.)
Immutable’s $280 million Series C funding round saw the company’s valuation jump to $3.5 billion as it attempts to expand blockchain gaming globally. The largest decentralized exchange’s creator closed the financing at a $1.66 billion value in order to increase investment in its app and expand developer tools. The cash will be used by the cryptocurrency exchange, which is now valued at $10 billion, to diversify its product line and penetrate more of the Web3 market.
Magic The one-year-old NFT marketplace Eden leveraged the $130 million Series B funding to develop its primary and secondary platforms in order to accommodate blockchain networks besides Solana. The well-known gaming company will use the money for licensing, product development, acquisitions, and investments. The NFT initiative secretly raised $54 million at a valuation of $704 million to pay for product development, acquisitions, media, additional collector experiences, and unique technology. The funds will be used by the group behind the Moonbirds NFT project to expand its development team, start a Moonbirds DAO, construct a social platform, and publish a fresh batch of NFTs