Startups
Cointelegraph’s Accelerator Program launches and is seeking Web3 startups
The Web3 space is growing rapidly, and new startups are emerging daily. Overall investment into Web3 projects skyrocketed to $30 billion in 2021 and $36 billion in 2022, even amid the market crisis. While many projects have good ideas and a strong value proposition to bring to the space, this is a challenging field riddled with competition and a lack of trust from the broader audience. Cointelegraph has established itself as a leader in the digital asset, Metaverse and emerging technologies media business since 2013, and is now looking to help other rising stars reach their full potential. Cointelegraph is delighted to introduce its Accelerator Program — a startup booster leveraging Cointelegraph’s capabilities as a strong media and strategic partner for promising Web3 companies. Paul Soln...
2023 could be a rocky year for crypto venture investments: Galaxy Research
Last year was a big one for crypto venture capital despite multiple high-profile meltdowns and the FUD (fear, uncertainty, and doubt) tsunami that followed. However, the funds may not flow as easily this year, a crypto researcher warns. The number of deals and amount invested by venture firms into Web3 and crypto startups was a little over $30 billion in 2022, according to Galaxy Research Galaxy’s head of firmwide research, Alex Thorn, described it as a “monster year” that was only just eclipsed by the $31 billion in VC investments in 2021. However, in a Jan. 5 report, Thorn stated that macroeconomic and crypto market conditions led to significant investment drawdowns in Q3 and Q4. This will likely continue into 2023, until macro and crypto market conditions improve. Thorn noted that there...
Axelar launches $60M startup ecosystem program
The proof-of-stake (PoS) blockchain Axelar launched on Dec. 19 a $60 million startup funding program dedicated to accelerating the development of decentralized applications and protocols that can replace centralized exchanges. The initiative is backed by over 15 blockchain investors. Dubbed Axelar Ecosystem Startup Funding Program, the initiative was designed to foster the development of Web3 applications addressing global issues that cannot be solved by the centralized internet. To qualify for funding, projects must also safeguard digital sovereignty, security and privacy, and work to onboard masses easily without unnecessary friction between specific blockchains or tokens, noted the company. Sergey Gorbunov, Axelar co-founder and CEO, told Cointelegraph about the development: “2021...
Crypto hotspots continue to thrive despite FTX collapse
The sudden failure of FTX has left many people questioning the impact this will have on the cryptocurrency ecosystem. For instance, it remains questionable whether or not crypto hotspots will continue to flourish or if there will be a decline in innovation. While it may be too soon to fully understand the impact of the FTX collapse, industry leaders within crypto-friendly geographies believe that the FTX failure will not hamper innovation. For example, Dubai — which has been dubbed as one of the most innovative regions for crypto and blockchain development — continues to see ecosystem activity. Most recently, The Algorand Foundation, the organization driving the growth of the Alogrand blockchain, hosted its second annual Decipher conference in Dubai. The event took place Nov. 29–30, ...
Web3 game DOGAMÍ secures $14M total funding
DOGAMÍ, an augmented reality mobile game involving nonfungible token (NFT) pet companions, has completed a $14 million seed funding round, according to a Dec. 12 press release provided to Cointelegraph. The Web3 mobile gaming company raised $7 million led by VC firm XAnge after initially securing $6 million from industry leaders in January 2022. DOGAMÍ, with community members in over 80+ countries, indicated that it has already sold 12,000 NFTs of dog avatars and 12,000 NFTs of canine accessories through a collaboration with omni-channel clothing retailer GAP. The company has also launched its first mobile application, “DOGA House”, which allows users to discover and interact with their “NFT puppies” in the “DOGAMÍ universe” while earning DOGA cryptocurrency. Relate...
FTX US ex-president reportedly seeks $6M funding to launch crypto startup
Just a month after the controversial fall of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is reportedly seeking out investors to launch a crypto startup. The ex-president of FTX US, Brett Harrison, is on the lookout for $6 million in funding to launch a start-up that would build crypto trading software for big investors, according to The Information. Harrison’s funding round would be against a $60 million valuation. On Sept. 27, Harrison announced his plans to step down as the president of FTX US as he moved into an advisory role — over a month before the infamous fall of FTX. As a result, the entrepreneur was not immediately accused of having direct involvement in misappropriating users’ funds. Like most here, I was surprised and saddened ...
Founders should consider VC firms their allies as they build in the bear market
This year’s bear market trajectory should be looked upon as a favorable opportunity for Web3 founders to raise capital and build cutting-edge products. Some of the most robust businesses today were built during market downturns, and founders now have a real opportunity to ensure they’re building products and services that meet genuine, real-world needs and look beyond oversized checks to find the most suitable business partnership. Determining the best methods to fund your product and company is of paramount importance and not a decision to be rushed into. It is an action that requires due diligence and an acute understanding of how the partnership will function and, more importantly, flourish in the face of adverse markets. Before a founder embarks on the journey of attracting inves...
Tech talent migrates to Web3 as large companies face layoffs
As inflation continues to grow, coupled with a looming recession, many tech firms are having to cut portions of their staff. To put this in perspective, data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally. It has also been reported that tech giants like Google, Netflix and Apple are undergoing massive job cuts. While many of these layoffs are likely due to an economic downturn, this has resulted in an overwhelming amount of talent flocking to early-stage Web3 companies. For example, Andrew Masanto, a serial entrepreneur who has founded a number of startups, told Cointelegraph that he recently launched Nillion, a startup specializing in decentralized computation, to help ensure privacy and confidentia...
Innovative Music Tech Companies Receive €100K After Winning ADE Startup Competition
Last Spring, the Amsterdam Dance Event and venture capital firm Antler asked the industry for their forward-thinking ideas in music tech. This week, two winning concepts were crowned, with each receiving six figures of investment. The ADE & Antler Startup Competition received more than 100 entries, but after a rigorous interview and pitch process, the pool was ultimately narrowed to just a handful of finalists who made their final pitch at Felix Meritis during ADE. Un:hurd is an artist-facing platform which helps creators better leverage their data and promotional insights through the help of artificial intelligence. The company was founded in 2019 by Alex Brees. The second winner, SYNKii, developed a clear use case as a result of the pandemic. Calling itself “the profession...
