Crypto funding: A $44M week for up-and-coming Web3, blockchain scalers

Web3 gaming and social media development brought home a few raises of their own this week

article-image

Skrypnykov Dmytro/Shutterstock modified by Blockworks

share

Crypto firms announced fundraising more than $44 million in fresh capital, but one raise was a clear standout among all the rest. 

Hi, a burgeoning Web3 ecosystem, raised $30 million from Animoca Brands. 

Hi has a litany of listed products on its website, ranging from a crypto exchange to a savings program that offers annual percentage yields. 

The partnership between Hi and Animoca will focus on the Hi payments app, which isn’t available in the US, and its layer-2 protocol. 

Read more: Mastercard, Hi Launch NFT-customized Debit Cards as NFT Interest Dips

“We are looking forward to investing in and partnering with Hi, which is committed to bridging the gap between the fiat and cryptocurrency worlds,” Yat Siu, co-founder and executive chair of Animoca Brands, said in a statement.

Scaling in focus

EthStorage secured a $100 million valuation with the successful completion of a $7 million seed round. 

Crypto investor dao5 led the round with participation from SevenX Ventures, Sky9 Capital, Foresight Ventures, among others. 

EthStorage, a layer-2 storage rollup that’s under development, is trying to scale Ethereum’s storage from the terabyte level to the perabyte level, according to its website. A perabyte is about 1,000 terabytes.

Other notable fundraises

  • Web3 game developer Delabs raised $4.7 million.
  • Releap, a decentralized social graph, brought in $2.1 million.

Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

The network is at a “pivotal juncture,” Blockworks Research’s Marc-Thomas Arjoon said

article-image

Altcoin trade volume has returned to pre-FTX levels, but with a shrinking pool of market leaders

article-image

Solana Foundation’s former head of strategy proposes increasing the disinflation rate

article-image

With much of the bitcoin mining supply chain based in Asia, US-based operations now face higher equipment prices

article-image

Anticipating an economic downturn, venture firms may be less likely to invest

article-image

Trump’s tariffs may have potentially significant impacts on GDP, household spending and food prices — if they hold