BRIEFINGS

NFT-based fantasy sports platform Sorare has raised $680M in a Series B round closed this week. The round, which values Sorare at $4.3B, was led by SoftBank and included participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree.

Brokerage app Robinhood has announced plans to launch in-app digital wallets to support its cryptoasset trading services. The firm says that wallets will be available to all users by early 2022. Robinhood initially began allowing users to trade cryptoassets on its platform in mid 2019.

NBA Top Shot developer Dapper Labs has raised $250M in its latest funding round closed today. The round was led by Coatue and values Dapper Labs at $7.6B. Other participants in the round include Andreessen Horowitz, GV and Version One Ventures.

Cryptoasset management platform Abra has raised $55M in a Series C round. The round was led by IGNIA and Blockchain Capital, and brings Abra’s total fundraising to $85M. Abra was fined $300K by the U.S. SEC and CFTC for railing to register sales in July of 2020.

Ethereum Layer 2 scaling solution Immutable has raised $60M in its latest funding round. The round was led by BITKRAFT Ventures and King Rival Capital. The raise brings Immutable’s total fundraising to $77.5M.

Yesterday, block production on smart contract platform Solana halted. The issue was reportedly caused by an sudden increase in transaction volume, which led to multiple network forks. Developers estimated that the transaction load peaked at 40,000 transactions per second.

Polkadot data indexing protocol SubQuery Network has raised $9M in a SAFT sale. The round was led by Digital Currency Group, Arrington Capital, and Stratos Technologies, with participation from Hypersphere Ventures, NGC Ventures, Wintermute, and Skynet Trading. The project raised $1.8M in a round closed earlier this year.

Avalanche-based DeFi protocol Trader Joe has raised $5M in a private token sale. The round was led by DeFiance Capital, GBV Capital, and Mechanism Capital. Other participant sin the round include Three Arrows Capital, the Avalanche Foundation, and Delphi Digital. The project, led by an anonymous team, is the second largest on Avalanche by total...

Last Friday, the Ethereum network burned more ETH than it minted for the first time in its history. Net issuance was -334 ETH, with 13,506 ETH minted and 13,840 ETH burned. The burning mechanism, EIP-1559, was introduced in August as part of Ethereum’s London hard fork upgrade.

Ethereum scalability project Arbitrum has raised $120M in a Series B closed this week. The round was led by Lightspeed Ventures and values the firm at $1.2B. The round also included participation from Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, and Alameda Research.