Blockchain technology continues to attract significant venture capital, with three notable projects securing funding this week. These developments signal a renewed interest from investors in the web3 sector. Let’s take a closer look at the latest funding rounds:

Peaq

Peaq, a layer-1 (L1) blockchain focusing on decentralized physical infrastructure networks (DePINs), recently announced a successful Series A funding round, raising $15 million. Generative Ventures and Borderless Capital led the investment, with support from other prominent investors like Spartan Group and CMCC Global.

Peaq aims to create an “Economy of Things” network by decentralizing physical infrastructure and systems. The platform offers backend functions for app builders, including access management, AI agents, and device data verification. Peaq plans to use the raised funds to expand its ecosystem, which currently hosts over 20 DePINs across various industries.

Midas

Another project, Midas, secured $8.75 million in funding to develop a protocol that issues real-world assets as ERC-20 tokens. Led by CEO Dennis Dinkelmeyer, Midas introduced mTBILL, a stablecoin that allows users to earn yield from U.S. Treasury bills on-chain. The funding round, led by Framework Ventures and BlockTower, will support Midas’s expansion and the development of its asset tokenization protocol.

Midas’s innovative approach to stablecoins has the potential to disrupt the industry, particularly in a non-zero interest rate environment. According to Dinkelmeyer, Midas is committed to bringing innovative products to investors while harnessing the benefits of DeFi applications.

BOB

Build on Bitcoin (BOB), a hybrid layer-2 network, raised $10 million in seed funding. The project, led by co-founder Alexei Zamyatin, aims to introduce the first Bitcoin L2 solution with Ethereum Virtual Machine (EVM) compatibility. Castle Island Ventures led the funding round, with support from Mechanism Ventures, Bankless Ventures, and notable angel investors like Dan Held.

BOB’s innovative approach to combining Bitcoin’s security with Ethereum’s capabilities has attracted attention from investors. The project is set to launch its Fusion program, offering early access to its platform and showcasing its potential for bridging the gap between different blockchain ecosystems.

These recent funding rounds highlight the growing investor confidence in blockchain technology and its real-world applications. As projects like Peaq, Midas, and BOB continue to innovate and attract funding, the future of decentralized finance looks promising.

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