Financing Overview of the Encryption Industry Last Week

Last week, ( 6.30-7.6), there were a total of 15 public financing events in the global blockchain sector, with a total funding scale exceeding $224 million. The main distribution of fields is as follows:

• There are 2 incidents in the DeFi sector, including the Islamic DeFi project inshAllah Finance which completed a $2.1 million seed round.

• Web3 games have raised 30.5 million dollars, with the game studio Distinct Possibility Studios securing its largest funding round.

• In the AI+Web3 field, Zypher Network secured $7 million in financing, the highest in the field.

• Starting with infrastructure and tools, the Swiss cloud platform Impossible Cloud Network has raised approximately $33.91 million, the largest scale.

• Other applications include 3 cases, among which the prediction market Limitless.exchange on the Base chain completed a strategic financing of 4 million USD.

• Centralized Finance 2 has emerged, with Japanese exchange operator BACKSEAT raising approximately $9.69 million.

In addition, the total financing amount of listed companies' encryption asset reserves exceeds 140 million USD.

Financing Details in Various Fields

DeFi

The Islamic DeFi project inshAllah Finance has completed a $2.1 million seed round financing. The project aims to combine Islamic finance with DeFi through the Solana network, providing Sharia-compliant financial services to the global Muslim community. Its products include the Sharia-compliant yield-bearing stablecoin iAUSD and the zero-interest lending protocol iABorrow.

The decentralized stablecoin infrastructure project Perena has completed a new round of financing, attracting over 350 supporters.

Web3 Games

Distinct Possibility Studios, a game studio founded by EverQuest co-creator John Smedley, has completed a $30.5 million funding round. The funds will be used to develop and publish the AAA shooter game "Reaper Actual," which is planned to launch on Steam and the Epic Games Store. The studio has chosen the Layer 2 network Etherlink, built on Tezos, as the blockchain foundation for the game.

Swedish game studio Cold River Games has completed a $2 million financing round to develop the free ARPG game "Crystalfall." The game is expected to launch on Steam in 2025, featuring a steampunk style, focusing on item growth and skill theory construction, and may introduce Web3 elements to enhance equipment circulation and player economic security.

AI+Web3

Zypher Network has completed a $7 million funding round aimed at accelerating the development of its zero-knowledge protocol stack and AI-specific Rollup infrastructure. The project provides a decentralized trust infrastructure for autonomous AI agents.

AI-driven superstructure network Datagram completes $4 million Pre-Seed funding round. The funds will be used to build a sovereign Layer 1 blockchain on Avalanche and accelerate the deployment of the node network. Datagram builds decentralized infrastructure by integrating idle computing resources and is currently serving 200 enterprises and 1 million users globally.

The Dubai AI and Web3 startup validation platform Idea-L has completed a $1 million Pre-Seed round of financing. The new funds will support the launch of the DAO-managed venture capital fund deVC Fund, and plans to issue governance tokens to build reasoning-driven large language models in multi-model and multi-modal environments.

Infrastructure and Tools

The Swiss cloud platform Impossible Cloud Network has completed a financing of approximately 33.91 million USD, with a post-investment valuation exceeding 398 million euros. ICN is a data sovereignty Web3 cloud platform, and its native token $ICNT has officially launched.

The Open Platform, a Telegram ecosystem development platform, has completed a Series A funding round of $28.5 million, with a post-investment valuation of $1 billion. The company is the core developer of Telegram's official blockchain TON, and its "Telegram Wallet" has been opened to users in certain regions. The new funds will be used to expand into the compliant markets of Europe and America, as well as to incubate blockchain games and AI applications based on TON.

The fintech company AllScale has completed a $1.5 million financing round to develop stablecoin invoices, social e-commerce, and payroll solutions. AllScale is committed to providing small and medium-sized enterprises with a one-stop stablecoin payment tool, reducing the barriers to use and addressing compliance and complex process issues.

Other Applications

The prediction market platform Limitless.exchange on the Base chain has completed a strategic financing of $4 million, with Arthur Hayes joining as an advisor. Limitless is the largest prediction market on Base, with a unique contract betting volume exceeding $250 million, allowing users to bet on the future performance of assets.

The Japanese content tokenization platform Questry raised approximately $1.8 million in the first half of its Pre-A round. The funds will be used to strengthen its content business and digital finance operations, including exploring the application of blockchain technology in cross-border investments.

The UK cloud mining platform TWL Miner has completed a $95 million Series B financing to support the integration of AI technology and cloud mining business. The funds will be used to strengthen the construction of a global renewable energy data center network and develop an AI mining system to optimize operational efficiency.

Centralized Finance

The Japanese encryption exchange operator BACKSEAT has completed approximately $9.69 million in financing. The funds will be used for product development, talent recruitment, and organizational structure strengthening. BACKSEAT plans to upgrade its existing services within the year and launch new encryption asset trading services.

Australian cryptocurrency exchange Coinstash has completed approximately $3.08 million in Series A financing, bringing its total funding to over 8 million Australian dollars. The funds will be used for platform development, team expansion, and user acquisition, with a goal of attracting 100,000 Australian investors. Coinstash was founded in 2017 and currently serves over 50,000 users, offering trading services for more than 1,000 cryptocurrencies including Bitcoin and Ethereum.