July had heavy investments in Crypto and NFT companies
$16 Million to develop a NFT loyalty engine
$350 Million in total investment for Aptos
In the last 30 days there has been big movements in the crypto, NFT and blockchain space. Investors are starting to reassess the market and make large investments in the down crypto-economy. A new company, Hang, has received $16 million in startup funding to provide new NFT based loyalty programs to companies. Hang.com will go to work with investments from companies that consist of Allbirds, Tiger Global and Warby Parker to name a few as they look to help Budweiser, Bleacher Report, Pinkberry differentiate themselves from their competitors. More details can be found here.
Additionally, $150 million was raised to support Aptos Labs as it endeavors to create a more friendly and scaleable Layer 1 blockchain. This comes on top of the $200 million they already raised in early funding. More details can be seen here. The Aptos team consists of former Meta (Facebook) employees that are looking to revive the work that was done with the Diem cryptocurrency. This project was abandoned due to heavy legislation and resistance from regulators, but now under a new structure may be resurrected in the Aptos ecosystem.
This activity should be an indication that even with a decline in crypto currency and reduction in the value of NFTs, there is still an interest to take advantage of the technology and innovate. The bear market is a perfect time to invest and make some low risk bets on what will more than likely be a an interesting second half of 2022.
About the author:
Curtis Lupton is a curious entrepreneur who has successfully developed improved customer experiences for private and public organizations. If you would like to learn more about ValueProve and how they can help you in your re-imagined CX/BX journey please visit www.value-prove.com
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