DeNet Raises $1 Million after Closing Pre-seed Funding Round

DeNet Raises $1 Million after Closing Pre-seed Funding Round

DeNet, a decentralized multichain storage platform, announced today that it had closed a pre-seed round, raising $1 million. According to a press release shared with Finance Magnates, DeNet is building an ecosystem based on decentralized data storage, targeting users seeking high data security services and NFTs storage.

The main participants of the round were Spartan Group, consulting and investment company; NGC Ventures, an investment company out of Singapore; Axia8 Ventures, a venture company out of  Shanghai; Red Building Capital, a techno-venture company out of Taiwan; Mr. Block, a well-known crypto-angel.

With the chosen participants of the round, DeNet also aimed to target the Asian market.

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Today, token offering platform CoinList raised $100 million in Series A funding, setting its valuation at $1.5 billion. With the token issuance market’s figures skyrocketing over the past year, the funding comes at a time when demand is on the rise. Participants include HashKey Capital, Access Ventures, Alphemy Capital, Broadhaven Ventures, Continue Capital, CMT Digital, DFG, FBG Capital, Fenbushi Capital, executives from GoldenTree Asset Management, Hack VC, Jsquare, LD Capital, Metaplanet, Perpetual Value Partners, Rising Tide Fund, and Taavet+Sten.

FTX Funding Round

Moreover, FTX, a major cryptocurrency exchange, saw a massive jump recently in its valuation after the latest Series B-1 investment round. The company has raised $420 million in the recent funding round and received a valuation of $25 billion.

In H1 of 2021, global cryptocurrency users increased by more than 100%. With growing adoption, leading players in the crypto ecosystem saw a sharp increase in their valuations. The $25 billion valuation makes FTX one of the most valuable cryptocurrency exchanges in the world. Leading global investors, including Ontario Teachers’ Pension Plan Board, via its Teachers’ Innovation Platform, Temasek, Sequoia Capital, Sea Capital, IVP, ICONIQ Growth, Tiger Global, Ribbit Capital and Lightspeed Venture Partners participated in the funding.