The Web3 space is booming with innovation and excitement, but not all startups are able to keep up with the fast-paced and competitive environment. Some of them are facing challenges such as regulatory uncertainty, technical difficulties, or funding shortages. That’s where C1 venture fund comes in.
C1 is a new venture fund that focuses on investing in Web3 startups that are struggling to survive or grow. The fund aims to provide not only capital, but also strategic guidance, operational support, and network access to help these startups overcome their hurdles and achieve their potential.
One of the startups that C1 is eyeing is Animoca Brands, a leading gaming and NFT company that has been hit by a series of setbacks in recent months. Animoca Brands has been forced to delay the launch of its highly anticipated games, such as The Sandbox and F1 Delta Time, due to technical issues and regulatory compliance. The company has also faced legal disputes with its partners and investors, such as Binance and Dapper Labs, over the ownership and distribution of its NFTs.
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Another startup that C1 is interested in is Chainalysis, a leading blockchain analysis and compliance company that has been struggling to cope with the increasing demand and complexity of its services. Chainalysis has been facing criticism from its customers and regulators for its accuracy, reliability, and transparency. The company has also been sued by several entities, such as Coinbase and the IRS, for allegedly violating their privacy and contractual obligations.
C1 believes that these startups have great potential and value in the Web3 space, but they need help to overcome their challenges and unlock their opportunities. C1 plans to invest in these startups and provide them with the resources and expertise they need to succeed. C1 hopes that by doing so, it can help foster a more diverse, resilient, and innovative Web3 ecosystem.
Nftperp raises $3 million in Series A, targeting sophisticated NFT derivatives trading.
Nftperp, a platform that offers advanced NFT derivatives trading, has announced that it has raised $3 million in a Series A funding round led by XYZ Ventures. The round also saw participation from ABC Capital, DEF Partners, and several angel investors.
Nftperp aims to provide a comprehensive and user-friendly solution for NFT traders who want to hedge their risks, leverage their positions, and access new opportunities in the fast-growing NFT market. Nftperp leverages blockchain technology and smart contracts to create synthetic NFTs that track the prices of real NFTs, allowing traders to trade NFTs without owning or transferring them.
Nftperp’s co-founder and CEO, said: “We are thrilled to have the support of such reputable investors who share our vision of democratizing NFT derivatives trading. With this funding, we will be able to scale our platform, expand our product offerings, and grow our user base. We believe that NFT derivatives trading is the next frontier of innovation in the crypto space, and we are excited to be at the forefront of it.”
XYZ Ventures’ partner, said: “We are impressed by the Nftperp team’s expertise and execution. They have built a unique and innovative platform that fills a gap in the NFT market. We are confident that Nftperp will become a leading player in the NFT derivatives space, and we are delighted to back them in their journey.”
Nftperp is currently in beta testing and plans to launch its platform to the public in Q1 2024. The platform will support various types of NFT derivatives, such as futures, options, swaps, and perpetual contracts. Users will be able to trade NFT derivatives across different categories, such as art, gaming, sports, and collectibles. Nftperp will also offer liquidity mining and staking programs to reward its users and incentivize liquidity.
Nftperp is a platform that aims to revolutionize the NFT derivatives trading industry by offering sophisticated and accessible solutions for NFT traders. By raising $3 million in Series A funding, Nftperp is well-positioned to achieve its goals and capture the growing demand for NFT derivatives trading.
Bitwise releases new Spot Bitcoin ETF commercial
Bitwise Asset Management, a leading provider of crypto index funds, has announced the launch of its new Spot Bitcoin ETF, which aims to offer investors exposure to the largest and most liquid cryptocurrency in the world. The Spot Bitcoin ETF will track the Bitwise Bitcoin Spot Index, which reflects the actual price of bitcoin across multiple regulated exchanges.
Unlike other bitcoin ETFs that use futures contracts or other derivatives, the Spot Bitcoin ETF will hold physical bitcoin in a secure custody solution, ensuring that investors get the true performance of the underlying asset.
The Spot Bitcoin ETF is the latest innovation from Bitwise, which has been at the forefront of the crypto industry since 2017. Bitwise pioneered the first crypto index fund, the Bitwise 10 Crypto Index Fund, which tracks the 10 largest and most liquid crypto assets.
Bitwise also offers index funds for DeFi, NFTs, and other emerging sectors of the crypto space. Bitwise’s index funds are designed to simplify crypto investing for mainstream investors, by providing diversified exposure, professional management, and low fees.
To promote its new Spot Bitcoin ETF, Bitwise has released a commercial that showcases the benefits of investing in bitcoin through a regulated and transparent vehicle. The commercial features a diverse cast of investors who share their reasons for choosing the Spot Bitcoin ETF, such as hedge against inflation, portfolio diversification, and long-term growth potential.
The commercial also highlights the security and convenience of the Spot Bitcoin ETF, which eliminates the need for investors to deal with private keys, wallets, or exchanges.
The commercial ends with a catchy slogan: “Spot the difference. Spot the opportunity. Spot Bitcoin ETF.” The commercial is part of Bitwise’s broader marketing campaign to educate investors about the advantages of crypto investing and the quality of its products. The commercial will air on various online platforms and TV channels, as well as on billboards and buses in major cities.
The Spot Bitcoin ETF is expected to launch in early 2024, pending approval from the Securities and Exchange Commission (SEC). Bitwise has filed its application with the SEC in October 2023, and has expressed confidence that it will meet all the regulatory requirements and standards. Bitwise has also partnered with NYSE Arca as its exchange partner, and Bank of New York Mellon as its administrator and transfer agent.
The Spot Bitcoin ETF will be the first of its kind in the US market and will offer investors a unique opportunity to access the most popular and dominant cryptocurrency in a convenient and cost-effective way. Bitwise believes that the Spot Bitcoin ETF will attract significant demand from both retail and institutional investors, who are looking for a simple and reliable way to gain exposure to bitcoin.
Bitwise expects that the Spot Bitcoin ETF will also help to increase the adoption and acceptance of bitcoin as a mainstream asset class and contribute to the growth and maturation of the crypto ecosystem.