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2023 Web3 Financing Focus: Infrastructure Leads, In-Depth Analysis of 5 Potential Projects
In 2023, data shows that there were a total of 1,178 financing events, with a total financing scale of 2.839 billion USD.
In terms of financing scale, the infrastructure sector ranks first. Several top investment institutions have also positioned the infrastructure sector as a key layout direction, occupying a significant proportion in their investment landscape. In addition, different institutions have their own preferences: a well-known investment institution focuses on the gaming sector; several large exchanges and investment institutions pay attention to the DeFi sector; another renowned investment institution has fewer investment transactions but maintains a relatively balanced investment across other sectors.
Here are a few potential projects worth noting in the infrastructure sector:
B² Network
B² Network is an EVM-compatible Rollup based on Bitcoin's zero-knowledge proof verification commitment. Its Rollup data and zk proof verification commitments are recorded on the Bitcoin network and are ultimately confirmed through a challenge-response mechanism.
The project participated in a Bitcoin ecosystem project roadshow organized by a certain institution in 2023 and received investment. It is reported that the core members of the B² Network technical team are active members of mainstream open-source communities such as Ethereum and Bitcoin.
Recently, B² Network has upgraded from the Alpha testnet to the Haven Beta testnet. Currently, its Odyssey mission is ongoing, and users can participate through the official website.
Mind Network
Mind Network is a zero-trust layer aimed at bringing the next billion users and trillions of dollars in scale to Web3. It provides security and data privacy solutions to achieve true CrossFi scale, comply with regulatory requirements, while adhering to the Web3 principles of asset tokenization and personal data ownership. The project was selected for the fifth season incubation program of a well-known exchange's lab and the BUILD program of a well-known oracle project.
On June 29, 2023, Mind Network announced the completion of a $2.5 million seed round financing, with participation from several well-known investment institutions.
Omni Network
Omni is the interoperability layer for Ethereum, serving as core infrastructure to support all modular applications on Ethereum. Developers can seamlessly build applications that exist throughout the Ethereum ecosystem while accessing all users and all capital. Omni's predecessor is the DeFi protocol Rift Finance, which provided financial services for Web3 projects.
Omni has secured 18 million USD in funding, with investment firms including several well-known venture capitalists.
In June 2023, the Omni testnet went live. Currently, the official has not announced any news regarding airdrop plans, so it is recommended to keep an eye on its updates.
Wormhole
Wormhole is a decentralized universal messaging protocol that enables developers and users of cross-chain applications to leverage the advantages of multiple ecosystems.
Wormhole completed a $225 million financing at a valuation of $2.5 billion, with multiple well-known investment institutions participating, making it the largest financing deal in 2023.
CESS
CESS is committed to building a blockchain-based distributed cloud storage system, effectively managing distributed resources through virtualization technology, and providing clients with consistent and efficient distributed storage services. The CESS global content delivery network enables users to easily access their data anytime and anywhere.
In December 2023, CESS completed a financing round of $8 million, with participation from multiple investment institutions.
The CESS team won the championship of a hackathon organized by a certain Web3 foundation in 2021 and passed all three milestones funded by the foundation. According to the officially released roadmap, CESS plans to conduct a token issuance in 2024. Currently, CESS has activities in the testnet phase available for participation on a certain task platform.