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ConsenSys, OliveX, and Talon Take Giant Leaps into the Metaverse with new funding round         

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Aiming to leverage the opportunities of the decentralised web, three Cyberport community companies—blockchain tech company ConsenSys, digital health and fitness company OliveX, and esports brand Talon—have successfully secured expansion and development funding from global investors. Animoca Brands, a Cyberport unicorn specialised in blockchain gaming  and NFT with seed investments in both OliveX and Talon, was among the start-ups’ recent funders.

 

ConsenSys: US$200 Million

ConsenSys, creator of cryptocurrency wallet MetaMask and the Ethereum developer tool Infura, was able to raise US$200M in funding from several venture capitalists, including Marshall Wace, Third Point, ParaFi Capital, Think Investments, IOSG Ventures, Dragonfly Capital, Electric Capital, Spartan Group, DeFiance Capital, Animoca Brands, Coinbase Ventures, and HSBC.

 

With Metamask recorded remarkable growth of 36 times last year hitting 21 million monthly users currently, ConsenSys has been rapidly gaining traction on the Ethereum front. To keep this momentum, the company seeks to use its newly acquired funds to competitively grow its team and support its expanding suite of MetaMask and Infura products. The software branch of ConsenSys plans to expand a new department focusing on NFT, and potential game and other content software development tools.

 

OliveX: US$5.8 Million

Dedicated to building the first fitness-focused metaverse, OliveX has received investor-backed Australian funds equivalent to US$5.8M. The funding was secured via share placement with Animoca Brands, One Football, and Bombora Investment, among other VCs.

 

The digital health and fitness company plans to use the funds to further develop “Dustland Runner”, the first-ever fitness metaverse game designed to reward players with digital items for workouts completed in the physical world. Resources will also be allocated to other development projects in the pipeline, especially as the company works to combine immersive fitness games, augmented reality, and blockchain-based play-to-earn experiences into one open metaverse. To date, the company has already created the DOSE token, a cross-platform, ERC-20-compatible fungible token that also functions as a utility token for existing OliveX games.

 

Talon: US$5 Million

Talon’s announcement following its reported quadrupled revenue since 2019 have only stirred the competitive gaming company to secure an additional US$5M in equity capital through a Series A funding round. The financing was led by the company’s long-time investor, Animoca Brands. The round also included existing investors like Hana Digital Transformation Fund and HZL Capital, as well as new investors, such as AK Partners, Token Bay Capital, and Foxmont Capital.

 

The raised capital will be used to further build Talon’s lifestyle and cultural platform around the interests of GenZ and millennials. Together with Animoca Brands, it will be using cutting-edge digital and blockchain technologies to engage its users across diverse metaverses, P2E games, and NFT platforms. The esports company has also set its sights on Southeast Asia, tapping regional opportunities, particularly in the Philippines and Vietnam.

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