CARV announces a $10M Series A funding to enhance its gaming and AI data layer, supported by Tribe Capital and IOSG Ventures.
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Funding
‘FOMO’ once drove GameFi funding, but VCs say it’s different this time
During the last bull run, VC firms were more concerned about missing out on the hype, but they’re taking a much more measured approach this time.
Venture capital firms haphazardly piled into blockchain gaming projects during the last bull run but are taking a much more mature and sustainable approach this time, according to industry executives.
“[It was] insane,” Shi Khai Wei, founder of cryptocurrency-focused VC firm LongHash Ventures, told Cointelegraph, adding that some GameFi projects were receiving up to $100 million with only a few team members and some lofty promises.
Keiran Warwick, founder of GameFi studio Illuvium, who recently raised $12 million in VC funding, said he saw the same thing, with much of the investor fervor then driven by a fear of missing out (FOMO).
Monad Labs nets $225 million in investment round led by Paradigm
Blockchain startup Monad Labs has raised $225M led by Paradigm to build an Ethereum-compatible blockchain that enables parallel execution.
Crypto startups received over $2 billion from VCs in Q1
DePIN platform peaq raises $15M ahead of launch
Avail secures $27 million in an early-stage funding round
Avalanche Foundation Release Eligibility Criteria for $100,000,000 Memecoin Fund
The Avalanche Foundation says it is funding select memecoins, non-fungible tokens (NFTs) and other similar crypto assets through its Culture Catalyst program. In 2022, the non-profit organization behind the layer-1 blockchain Avalanche (AVAX) launched the Culture Catalyst initiative to support community coins created for culture and engagement. In a new statement, the foundation says it […]
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OpenAI announces second round of AI startup fund
OpenAI said the startup fund initiative is an effort to do its part to help push the boundaries of applied AI in essential domains.
OpenAI has opened applications for the second cohort of its six-week program for artificial intelligence (AI) startups, Converge 2, through which it will invest $1 million into each of the 15 successful participants selected.
The organization behind ChatGPT announced that the initiative, accessible worldwide, is aimed at individuals like engineers, designers, researchers and product builders utilizing AI for innovative purposes. OpenAI founded the startup fund on the idea that robust AI systems will fuel a new era of groundbreaking startups.
The rapid proliferation of AI tools and solutions has ignited support from industry experts and investors alike. Generative AI startups have received considerable funding from various companies and organizations in 2023 alone.
Bitcoin derivatives data points to traders’ $50K BTC price target
Bitcoin bulls expectations of $50,000 and higher remain feasible according to BTC futures and options markets.
Bitcoin (BTC) price continues to trade below its 2023 high, a sign that investors may have underestimated the strength of the $44,000 resistance. Even as BTC price trades below $42,000, it doesn't necessarily mean that reaching $50,000 and beyond is no longer possible. In fact, quite the opposite seems more likely to occur. Looking at Bitcoin derivatives metrics, it is clear that traders ignored the 6.9% drop and remained optimistic. However, is this optimism enough to justify further gains?
The $127 million liquidation of leveraged long Bitcoin futures on Dec. 11 may seem significant in absolute terms, but it represents less than 1% of the total open interest – the value of all outstanding contracts. Nevertheless, it's undeniable that the liquidation engine triggered a 7% correction in less than 20 minutes.
On one hand, one could argue that derivatives markets played a crucial role in the recent negative price movement. However, this analysis overlooks the fact that after hitting a low of $40,200 on Dec. 11, Bitcoin's price increased by 4.2% in the following six trading hours. In essence, the impact of forceful liquidation orders had dissipated long ago, disproving the notion of a crash solely driven by futures markets.
French startup Mistral AI closes $415M funding round
The French artificial intelligence startup Mistral AI closed a funding round worth around $415 million as it strives to be the EU’s rival to OpenAI and accelerates the EU AI race.
French artificial intelligence (AI) startup Mistral AI has announced it raised €385 million ($415 million) in its latest funding round to develop its technology and open-source software.
Andreessen Horowitz and the company’s initial backers, Lightspeed Ventures, led the round, which closed on Dec. 11. This follows a previous funding round in June where Mistral raised $113 million in seed funding. The company is currently valued at around $2 billion.
Mistral AI focuses on open-source technology for generative AI tools, chatbot development and customizable features. It aims to make its products available to the general public in early 2024.