We are in an uncertain time to invest in cryptocurrencies. Despite this, VCs continue to invest in cryptocurrencies that have the potential to be successful in the future. Here are some altcoin projects that big investors are betting on.
At a time when cryptocurrency investments are uncertain, it’s worth looking at where big investors are investing. When the bear turns into a bull market, projects with large investor support have a good chance of growth. cryptocoin.com , we’ve brought you a list of places where VCs invested in August. However, we selected some projects among them and described them.
VCs’ favorite altcoin projects
The NFT altcoin project called VeeFriends has received an investment of $50 million from the investment fund a16z. Gonzilla Games, on the other hand, raised a total of $46 million from various VCs such as KuCoin and Blizzard. These two cryptocurrency projects were the assets that received the highest investment. They were followed by HashFlow with 25 million investment, Pinata with 21.5 million investment and Creator DAO with 20 million investment.
There are 8 projects under the $20 million band. Three of them raised over $10 million in August. Luxeon ranks first with $10.8 million, followed by Satellite IM and Jito Labs, which have raised $10.5 and $10 million respectively. The remaining projects received less than $5 million in investment. These projects are; Gunzilla Games, Coherant, MetaverseGo, Datawisp and DebtDAO. Let’s take a look at some of the VCs’ favorite altcoin projects.
Gunzilla Games
The new funding will enable him to build the new GunZ platform, which gives him full control over in-game properties. GunZ will be the basis for the high-budget third-person shooter “Off The Grid.” The studio describes “in-game item swapping” as one of the game’s standout mechanics. Accordingly, the game will be the studio’s first game to feature item swapping.
In the game, users will be able to purchase new in-game items from other players who have collected the items. Trading will be conducted through a Blockchain-based marketplace or any third-party marketplace that supports NFT technology.
CreatorDAO
CreatorDAO focuses on advancing artists in their careers and finding joint access to funds. Thus, it works as a DAO dedicated to empowering the community. In addition, mentoring provides professional tools to help artists grow their businesses. The result is a community that is invested in each other’s success.
Satellite IM
Satellite IM is the first Web3 communication platform to include private messaging. It was designed as an EVM compatible development protocol for easy independent storage and peer-to-peer communication leveraging the interplanetary file system (IPFS). The platform uses users’ decentralized identifiers (DIDs). Thus, it allows signing, encrypting, publishing, searching and recording of documents or communications. Additionally, the altcoin eliminates the need for a wallet or on-chain data.
pinata
Pinata provides media infrastructure for marketplaces, Metaverses, Web3 applications and NFT projects of all Blockchains. The funds are used to continue investing in its technical infrastructure and grow its team. Pinata provides super fast uploading, streaming and sharing through 200 server locations worldwide. Thus, it offers a set of tools for managing and presenting content. It also allows creators to develop their content on any Blockchain.
luxeon
Luxeon aims to aid the Web3 transition of traditional games for gamers and game creators. It works as a new Blockchain gaming platform created to accelerate this. Accordingly, the platform includes a market, a store and various games. Users can purchase and exchange NFT game products created by game events using LXN tokens.
The altcoin wants to launch high-quality Blockchain games with a sustainable ecosystem and tokenomics. Thus, it aims to expand its ecosystem and community. It also creates great GameFi and Web3 experiences for gamers.
