Crypto is an ever-evolving world and tracking VC funding and raises can help you stay informed of the market trends. Even amidst the bear market, when interest rates are high, capital continues to flow into the industry.
Although the growth rate is much slower than that of last year, a few teams can still proceed with their projects without worrying too much about market conditions.
DeFiLlama appears to be my go-to source for yield farming opportunities. I even created a tutorial on how to use it, though the sections covering FTX and Alameda should be disregarded. Other than that, I also keep an eye on Twitter and newsletters for extra insights but generally rely mostly on DeFiLlama’s data.
1. Phi
Crypto games are still popular, evidenced by the growing number of venture capital investors who are investing in them. It appears that this is a trend that’s here to stay for the foreseeable future.
Recently, Phi, a web3 social gaming project raised $2 million in seed funding. Notable investors from the crypto space and VC firms such as Delphi Digital & Polygon Ventures provided the financial support for this project.
I am quite excited about this project. The platform seems to be amusing and inviting to explore.
After further exploration, I’m confident this is an amazing project that can introduce newer audiences to web3 /DeFi. Phi allows users to go on a cryptocurrency journey, such as retrieving NFTs, exchanging tokens or purchasing NFTs. Plus there are tasks, compensations and tournaments available too!
Crypto & DeFi newbies are welcome to take part in this project as it offers a great interactive way of learning. There are quests available for multiple blockchains like Ethereum & Polygon and you get rewards for completing them. It’s an effective way to learn and earn at the same time, not just play-to-earn.
2. Space ID
The market today is filled with name services and it can be overwhelming to figure out what constitutes the right tool for your business. That being said, selecting the right name service can have a significant impact on your success.
In my opinion, the next wave of crypto-projects would involve building technologies that make it easier to live in a web 3.0 environment. Space ID is one such project pioneering this concept.
Registering web 3 domains is a breeze with this website, as the screenshot explains all about it. Right now, three blockchains are available for use — Ethereum, BSC and Arbitrum — but hopefully they’ll be incorporating more in the near future.
One of the most exciting features is the universal domain — with it, you won’t have to keep up with all the different “.something” domains. Regardless of which blockchain network you’re using, you’ll have one single identity that can be used throughout the entire ecosystem.
With the rising cost of capital, it has become difficult for VCs and investors to part with their money. I believe this is a positive development because it will force them to be more judicious with their investment decisions and only fund projects they consider viable.
The startup market is becoming increasingly competitive, so founders must be at their best in order to gain the attention of potential investors. This also leads to higher quality projects and makes it less likely for founders to overvalue their work.
The crypto sector is seeing an uptick in the quality of projects being developed. This is something that I personally noticed while in the process of making this list. The raises are now more interesting than they used to be, although there are still some illogical projects here and there.
3. Renegade
When I discovered the names of those supporting this project, my interest was piqued. The people behind it are recognized as innovative experts in the cryptocurrency market, so investing their resources into this venture is a strong indication that it must be something extraordinary.
As per the whitepaper, Renegade assures full anonymity while undertaking any trade dealings.
Their arrival is at the right time.
The lack of reliability in CeFi has been made evident by the FTX’s case, demonstrating the need for more trust in DeFi projects.
Times of greater conflict between the government and cryptocurrency can make it feel like Coinbase and UniSwap are extensions of The Federal Reserve.
3. When MEV trying to sabotage your trade somehow. In short, Renegade is an anonymous exchange with sophisticated offers related to security, privacy, and MEV protection.
MEV (Miner Extractable Value) is a phenomenon where miners can manipulate trades to their advantage. Renegade Exchange has come up with cutting-edge measures to secure & protect your trades from MEV and such exploitation. To sum up, Renegade provides anonymity and facilitates secure trading with MEV protection.
