Episode 53|Force Web3 Weekly Investment and Financing Events November17–24, 2022

Force Community
4 min readNov 24, 2022

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On November 24, the minutes of the Federal Reserve meeting indicated that most Fed officials supported a slower pace of interest rate hikes. Some officials believe that slowing down rate hikes can reduce financial system risk to some extent, and given the lag in monetary policy, market feedback will come much later to see a more comprehensive picture of progress.

Moving on, let’s look at today’s bitcoin price, which by the last 12 hours of data has seen a small, slight increase in price, finally coming out of the three-day low range from the 21st to the 23rd. From this perspective, news without an exact rate hike in basis points does not have a particularly direct impact on bitcoin. The 75 basis point rate hike in September brought strong positives for cryptocurrencies, which many investors see as an investment hedge to mitigate asset depreciation.

The FTX collapse will gradually come out of the shadows as time grows, and on November 17, Genesis, the head lending platform of DCG, was exposed as insolvent. The market has become relatively calm after the FTX thunderstorm of up to $10 billion, and the Genesis side has directly stated that there is a funding gap of close to $1 billion; if not, it will go straight to bankruptcy.

On the other side of the exchange, for example, OKX has learned from the lessons of SBF and has announced to the public that it has officially gone live with proof of reserves, which all users can check on the official webpage. According to its current data, its Bitcoin, Ethereum, and USDT have a reserve ratio of over 100%.

To some extent, the crisis event will in turn prompt the industry to operate more prudently and optimize management, thus minimizing the risk of systemic collapse.

One of the more interesting funding events this week was the Temasek-led decentralized identity project Carv which takes a different approach than other all-encompassing DID solutions, focusing first on the gaming industry. Its main product consists of an engine that aggregates player data from Web2 and Web3 and centralizes that information under a unique user ID. Six months after launching in beta, Carv has worked with more than 90 games and has over 300,000 registered users. Of these, approximately 160,000 are active monthly and spend an average of 9 minutes per session on the platform. The DID system is compatible with more than 20 Layer 1 networks, including Ethereum and Solana, and internally, Carv can cover 95% of blockchain games on the market.

The perspective of using games as an entry point for identity is very advantageous; after all, the potential of the Web3 gaming market is far from being fully explored.

1.Project Name: Tilia

Project Category: Payments Platform

Project Description: Tilia provides developers with the tools to enable profitable in-world economies that empower their players and users to buy and sell virtual goods and services and facilitate play-to-earn programs.

Financing: Strategic Round

Amount of Financing: Unknown

Investors: J.P. Morgan

2.Project Name: Onomy

Project Category: DeFi protocol

Project Description: Onomy aims to converge DeFi and forex markets through its products including a DEX and a wallet.

Financing Round: Private Token Funding Round

Amount of Financing: $10Million

Investors: The round was backed by investors including Bitfinex, GSR, Ava Labs, CMS Holdings and DWF Labs

3.Project Name: BrandNation.io

Project Category: Web3 Startup

Project Description: BrandNation.io is an influencer marketing platform for digital and Web3 brands

Financing Round: Seed Round

Amount of Financing: $2Million

Investors: Led by Sonla

4. Project Name: Vinci Protocol

Project Category: NFT infrastructure

Project description: With Vinci Protocol, Web3 builders and companies can leverage our tools and services, which encompass NFT finance, NFT Oracle, NFT Governance, and NFT Commerce, to bring mass adoption to NFT and Web3

Financing round: Seed Round

Amount of financing: $2.1Million

Investors: led by UOB Venture Management, SigNum Capital, and TGE Capital

5.Project Name: Thirdverse

Project Category: Web3 Startup

Project Description:Thirdverse dedicated to innovation and expanding the boundaries of VR and Web3 gaming

Financing Round: Unknown

Amount of Financing: $15 Million

Investors: Led by MZ Web3 Fund

6.Project Name: Carv

Project Category: Web3 Identity Platform

Project Description: An array of solutions for decentralized identity or DID

Financing Round: Unknown

Amount of Financing: $4 Million

Investors: Led by Vertex

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