Venture Trotter Weekly Review: Week Ending May 26, 2023

Ruceto tracked over $164.4 million in institutional investments into crypto or Web3 companies last week. Covered investments include Worldcoin, Lab Dao, Pomerium, Burgercities 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
Blockchain Capital
The project was co-founded by OpenAI CEO Sam Altman. Using your biometric data, the company claims it “proves you are a real and unique person while fully protecting your privacy.”
A gaming studio that focuses on creating a stable and sustainable P2E platform
Foresight Ventures
A decentralized app (DApp) utilizing AI tools on web3, aiming to facilitate an easy, free-speech, and permanent storage DApp for the creator economy
Vega Ventures
A play-to-earn (P2E) MetaFi platform on which the users can enjoy various gaming activities such as PVP, quests, monster combats and more
in-game token (BURGER)
Alpha Transform Group, Alphemy Capital, Denali Digital, Saxon Ventures, and FirstBlock Capital
An AI-powered digital technology platform that claims to be “the first fully-distributed routing protocol for the Internet”
Inflection, Village Global
A decentralized organization connecting scientists and engineers by facilitating the sharing of tools and resources for open-source collaboration in life science research
The General Partnership, Lemniscap
A development platform designed to streamline the integration of data from smart contracts into decentralized applications (DApps)
Arrington Capital
An app chain infrastructure protocol that aims to simplify and accelerate app chain deployment, and provides permissionless infrastructure tools and services
gumi Cryptos Capital, Maven 11 Capital
A crypto infrastructure project offering customizable "wallet-as-a-service" software for game developers and publishers. It facilitates secure in-game transactions, promoting cryptocurrency adoption in the gaming industry
Multicoin Capital
An incentivized, reward protocol on Polygon. It promotes efficiency by reducing transaction spam and addresses propagation bottlenecks through an auction system
Company offers multiple products to enable Web3 users to represent themselves with animated avatars

Worlcoin was co-founded by OpenAI CEO Sam Altman. The company verifies that a person is real through the use of a biometric imaging device. Their first token, WLD, will have utility and governance functions and will be freely distributed to anyone who proves that they are a unique individual. Per Spencer Bogart of Blockchain Capital, “By leveraging a novel distribution strategy, Worldcoin has a unique opportunity to become the biggest onramp to crypto, complemented by the most widely adopted crypto wallet, and, most importantly, to establish a new primitive for the Internet — Proof of Personhood.” This technology may become very important in an environment where rapid advancements of AI make it difficult to distinguish between bots and humans. Although the project is still in its initial testing stage, it already onboarded nearly 2 million people.

Pomerium is gaming studio that is aiming to bridge the gap between Web2 and Web3 platforms in the gaming industry by developing a stable and sustainable P2E platform. In addition to creating their own games, Pomerium also publishes the games of others and include those games in their ecosystem. Pomerium has three tokens, Pomerium ecosystem token (PMG) which can be earned by contributing to the ecosystem, Pomerium utility token (PMR) which can be earned through Pomerium games, and the Pomerium community meme token (PME).

LabDAO is an online organization of scientists and engineers which allows users to solve biological problems using machine learning (BioML) directly from their computer’s command line through a tool maintained by LabDAO called PLEX. LabDAO’s token, LAB, is in its pre-launch phase which the users will be able to earn by contributing to the maintenance of open source tools, LabDAO’s community or by using services on the openlab exchange. LAB tokens will give its holders LabDAO membership.

What’s happening at Ruceto?

We just released our Deep Dive & Estimated Value Range report on Arbitrum on our website. We are also running a special, limited time campaign for new subscribers (“Founding Members”) where Founding members can lock in lifetime discounts and early adopter benefits. Keep an eye on our website and Twitter page for news on community events and our upcoming deep dive report on Injective.

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