Bitcoin (BTC) and the broader cryptocurrency market have provided very little comfort in recent weeks, as macroeconomic headwinds and the implosion of the Terra ecosystem continue to reverberate. But, if we look beyond the immediate price action, we observe an industry that continues to grow and evolve, as well as attract sizable capital investments from major funders. The latest edition of venture capital (VC) Roundup highlights the continued growth of Web3 gaming, metaverse applications and even decentralized finance (DeFi) protocols.
DAO management platform closes funding round
Common, a community management initiative for decentralized autonomous organizations, or DAOs, has closed a $20 million funding round to expand its platform and further decentralize its operations. Common gives users the ability to create, manage and govern their own blockchain communities. The company claims to have 500 active communities including crypto projects dYdX, Axie Infinity, Solana and Polygon.
Explain DAOs in 5 words or less.
— Cointelegraph (@Cointelegraph) February 28, 2022
Centrifuge lands BlockTower partnership
DeFi protocol Centrifuge has partnered with blockchain venture firm BlockTower to accelerate the financialization of real-world assets on-chain. To support this initiative, the partners secured $3 million in treasury token sales from both traditional and crypto investors. The incorporation of real-world assets is considered by many to be an important step in further cementing DeFi’s role in mainstream finance. Centrifuge co-founder Lucas Vogelsang said his firm’s partnership with BlockTower aims to “accelerate the adoption of DeFi in institutional capital.”