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Home»TRADING NEWS»Blockchain startups Peak, Midas, and BOB secure venture capital
TRADING NEWS

Blockchain startups Peak, Midas, and BOB secure venture capital

By Crypto FlexsMarch 31, 20243 Mins Read
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Blockchain startups Peak, Midas, and BOB secure venture capital
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This week, three blockchain experts weigh in on venture capital. This is perhaps an optimistic indicator that investors are once again interested in the web3 sector.

vertex

On March 27, Peaq, a layer 1 (L1) blockchain specifically designed for Decentralized Physical Infrastructure Networks (DePIN), announced a successful Series A funding round, raising $15 million.

Generative Ventures and Borderless Capital led this effort with participation from several notable investors, including Spartan Group, HV Capital, CMCC Global, and Animoca Brands.

With a vision of building an “economy of things” network, Peaq aims to decentralize physical infrastructure and systems to provide permissionless and borderless digital infrastructure for increasingly intelligent machines.

The platform provides a variety of backend features for app builders, facilitating access management, AI agents, and device data verification. The ecosystem also boasts supporting tools such as a machine platform and a decentralized physical infrastructure network accelerator in partnership with Outlier Ventures.

Peaq plans to use the funds raised to expand its ecosystem, which already hosts more than 20 DePINs. These DePINs cover industries such as mobility, energy, connectivity, environment, agriculture, and digital infrastructure.

midas

Midas raised $8.75 million in funding. Led by CEO Dennis Dinkelmeyer, the company is developing a protocol for issuing real-world assets as ERC-20 tokens.

The funding round, led by Framework Ventures and BlockTower, will fuel Midas’ expansion efforts and further development of its asset tokenization protocol.

Midas will also launch mTBILL, a stablecoin designed to allow users to earn returns from U.S. Treasury bonds on-chain. According to the company, this move has the potential to shake up the stablecoin industry, especially considering the argument that launching a stablecoin during a period of non-zero interest rates could be disruptive.

7/ Fundamentally yield tokens are the core of on-chain finance in a world of non-zero interest rates.

For giant companies like Circle & Tether, which were born in the era of zero interest rates, disruption is likely.

future? Yield-focused stablecoins such as: $mTBILL.

— Midas (@MidasRWA) March 28, 2024

Commenting on this news, Dennis Dinkelmeyer emphasized Midas’ commitment to innovation, saying: “Midas is well-positioned to continue to provide investors with innovative products to maintain on-chain capital, especially stable capital, through its yield-generating tokens. Related defi application.”

Both Peak and Midas are headquartered in Berlin. The ability to attract funding signals growing investor confidence in the potential of blockchain technology for real-world applications and asset tokenization.

shot

Separately, a hybrid layer 2 network called Build on Bitcoin (BOB) successfully raised $10 million in seed funding.

Castle Island Ventures led the funding round. Mechanism Ventures, Bankless Ventures, renowned angel investor Dan Held, and Domo, creator of the BRC-20 token standard, all participated.

We are excited to announce 𝐁𝐎𝐁 त्त त्त्त्तत्त $𝟏𝟎𝐌 𝐁𝟎𝐌 𝐁𝐎𝐌 led by Castle Island Ventures along with other key investors! 🎉

This pivotal moment fuels our mission to launch the first hybrid L2 that blends the security of Bitcoin and the security of Ethereum. pic.twitter.com/lMwOcO5qTD

— Bob | Build Bitcoin foundation (@build_on_bob) March 27, 2024

The pioneering project led by co-founder Alexei Zamyatin seeks to introduce the first Bitcoin L2 solution compatible with the Ethereum Virtual Machine (EVM).

The London-based company is also gearing up for launch. fusion The program launches on March 27th, giving participants early access to the platform.

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