Chiron, a venture capital firm focused on blockchain projects recently announced that they had raised $50 million for their portfolio of companies. With this raise, Chiron will now be the leading investor in blockchain startups globally with over 100 investments to date.
The “blockchain news” is a VC firm that has raised $50 million for its Terra blockchain projects. Chiron plans to use the funds to build an enterprise-grade, private, permissioned blockchain infrastructure.
Chiron, a Hong Kong-based venture capital company, has collected $50 million to support Terra blockchain initiatives. The cash will be used to support “decentralized financial apps, metaverse-linked non-fungible token (NFT) platforms, and more,” according to the business.
Terra Ecosystem Development
Terra is a Defi technology that powers global payment networks using fiat-pegged stablecoins. The financing comes as the LUNA token, the blockchain’s native token, continues to set new highs despite the broader market decline. The price of LUNA has increased by nearly 9,000 percent this year, hitting $77.00 last month.
Chiron Partners’ Chief Operating Officer is Jake Cormack.
“The Terra ecosystem’s development potential is boundless,” said Cormack, “especially following the recent Columbus-5 upgrade and announcements on Risk Harbor insurance covered protection.” “We aim to collaborate closely with visionaries driving up-and-coming Terra initiatives, not merely with finance, but also with our strategic, comprehensive resources and knowledge.”
Gaps in the Digital Assets Space
The Chiron Terra Fund 1, or CTI, is the name of the new financing for Chiron.
Sean Hung is the CEO and Founding Partner of Chiron Partners.
“In the digital assets market, CTI fills a critical void. Every great project, we think, needs a well-built protocol to thrive, and CTI will make that happen. “We’re looking forward to expanding our theme approach and identifying attractive investment possibilities,” Hung added.
Terraform Labs just received $150 million in investment from a group of crypto investors including Arrington XRP Capital, Pantera Capital, Galaxy Digital, and BlockTower Capital. By early 2022, the blockchain is expected to include around 160 new projects.
Terraform Labs’ co-founder and CEO is Do Kwon.
“We’re excited to have Chiron Partners join the thriving Terra ecosystem as a great resource to support ecosystem initiatives and builders with funding, strategic knowledge, and other advice,” Kwon added.
Terra is one of the biggest DeFi-oriented blockchains on the market, according to industry statistics, with a total value locked (TVL) of over $13 billion. Ethereum is the only other blockchain with a greater TVL.
Web 3 Investments are Increasing
Chiron is one of a rising number of organizations that are investing in the metaverse and Web 3 gaming.
Hashed, a crypto investment business located in South Korea, announced $200 million in financing for the Web 3 ecosystem at the beginning of December. This money comes after a $120 million investment a year earlier.
A $100 million investment in Web 3 game development was announced at the same time by FTX, Lightspeed Venture Partners, and Solana Ventures. The money will be used to help game studios and technology companies incorporate the Solana blockchain into desktop and mobile gaming platforms.
The support for DeFi and Web 3 has never been greater, thanks to Chiron’s announcement, as well as prior investment announcements from other firms and the developing Terra ecosystem.
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