Venture Trotter Weekly Review: Week Ending May 12, 2023

Ruceto tracked over $53 million in institutional investments into crypto or web3 companies last week. Covered investments include Pudgy Penguins, Odsy Network, Artifact Labs, Artizen, and various others.

Links to the target company website, investment announcement, and token info are provided via hyperlinks on the Target Name, $ Raised, and Token columns respectively.

Target Name $ Raised Lead Investors Description Token
10T Holdings
Crypto news and research platform
Brand that includes 8,888 penguin NFTs, merchandise, and toys
Blockchange Ventures
Developer of decentralized wallets ("dWallets") that allow for trustless access, and can sign transactions for any other blockchain
Polychain Capital, Lemniscap
Builders of infrastructure that connects zero-knowledge applications, with the goal of maintaining privacy on a multi-chain ecosystem
Mystenlabs, Polygon, Magic Eden, Polkastarter, Cogitent, Ultra, GSR, EMURGO, Master Ventures, Eclipse, and others
Game developer for both Web3 and Web2 audiences. Gates of Ethernity can be downloaded for free, and Cards of Ethernity is currently in beta
Ideo CoLab Ventures
Developer of an end-to-end observability platform that enables engineers to monitor, troubleshoot, and optimize Web3 apps
Blue Pool Capital
A spinoff from Hong Kong’s South China Morning Post, the company preserves historical records on the blockchain
Consensys Mesh, Animoca Brands, Protocol Labs, and others
Enable the sale of NFTs called "artifacts," where users can vote on which projects are featured
MaC Venture Capital, Tagus Capital, Superscrypt Alchemy, and others
Creator of an open-source smart contract registry, enabling discovery, contribution, and app integration
Open-source protocol and that enables the trading on-chain trading of volatility

Pudge Penguins is a brand that includes 8,888 collectible Penguin NFTs, merchandise, and various content including GIFs. The value of the company and NFTs will rely on growing brand awareness, and per the company, their $9 million seed round enables them to “build at a faster pace, get into the right rooms, amplify our existing launches, and continue to build in public.”

Odsy Network is a security-first L1 blockchain where decentralized wallets (“dWallets”) are the primary utility. dWallets are native to the blockchain and are bound by smart contracts that manage access to these wallets, bringing trustless access to each wallet. The advantages of dWallets include a blockchain agnostic signing mechanism that allows a single wallet to sign transactions for any blockchain, and the ability to transfer wallet ownership. The goal of the project is to make the Odsy network the main access control layer for all of Web3. The native token to the Odsy network is the ODSY token, which has fee, validation, and governance functions.

Artifact Labs uses blockchain technology to preserve records of historical events. An example of how this works can be seen here, where each of South China Morning Post’s front pages in the first half of 1997 (a major year for Hong Kong and Asia in general) were sold in various mystery boxes containing 5 NFTs. Each front page is assigned a rarity level of Legendary, Super Rare, Rare, or Uncommon. Phillip Pon, CEO of Artifact Labs, said, “We want to carve new space in the younger public’s consciousness for historical brands and artifacts…while supporting these important organizations with new revenue streams to fund their preservation work, we are also solidifying immutable on-chain data preservation through NFTs.”

Artizen is a platform where creators sell Artifacts (art on the Ethereum blockchain). Artists submit their projects to Artizen, and the community votes on which projects will actually be featured. The project that sells the most Artifacts in a set period of time receives a cash prize.

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