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NEAR Foundation Funding Team Report: September 2022

Welcome to the NEAR Foundation Funding Team Report that captures and highlights data for the month of September 2022. The purpose of this document is to provide transparency regarding what happened during the last month in our Funding Team, and is to be shared publicly to the ecosystem and our investor network.

Summary

1. Grant data

1.2. Approved Grant program data

1.2. Grant highlights

1.3 Completed Projects & Milestone data

1.4 Effectiveness of the funding program

2. External funding in the NEAR Ecosystem

3. Ecosystem highlights

1. Grant data

1.1. Approved Grant Program data

Data reflects projects that have applied for a Grant via the Grants Program and that have been signed by the NEAR Foundation during the month of September(01.09.2022 to 30.09.2022).

*Note: all applications have been processed.

General Grant data

Applications received* 📥Grant Agreements signed ✅Conversion rateAverage Grant amount Committed amount in dollars 💵1392517%$78 K$1.9 M

Grant tracks**

Activation (up to $10 K)5Small Builder (up to $25 K)4Builder (up to $50 K)11Advanced Builder (up to $100 K)4Partner ($ ∞)2

** Please note that our current grant tracks have been updated. For more information please have a look at our updated grant tracks.

Grants per category

Gaming / Metaverse — 7

Infrastructure / Wallets — 6

NFTs — 4

Other — 4

Social Impact — 2

Institutional / Financial — 2

Grants per country (Top 5)

United States — 8

United Kingdom — 2

Switzerland — 2

Malaysia — 2

Ukraine — 1

1.2. Grant highlights

This section provides highlights of grants that have been signed during the month.

Gaming / Metaverse projects

Name / Website / Grant track / Location

Arcnes / website / Advanced Builder / Poland

Bonuz / website / Advanced Builder / Dubai

Arhead / website / Builder / United Arab Emirates

Bearverse / website / Builder / United States

Gameplace by ZomboDucks / website / Builder / Israel

Joystick / website / Small Builder / Nigeria

Open character creator / website / Activation / United States

Infrastructure / Wallets projects

Name / Website / Grant track / Location

OnMachina / website / Partner / United States

Meteor Wallet / website / Builder / Malaysia /

Verisoul / website / Builder / United States

near.js — / / Small Builder / Ukraine

Java-SDK part 3 / website / Small Builder / Switzerland

Tonana Bridge & Connectors / website / Activation / Czech Republic

Institutional / Financial projects

Name / Website / Grant track / Location

Defolio/ Partner / United Kingdom

Near Access / Activation / United States

Social Impact projects

Name / Website / Grant track / Location

BeeTogether / website / Builder / Switzerland

GRVTY / website / Builder / United Kingdom

NFTs projects

Name / Website / Grant track / Location

NEAR NFT DAO / website / Builder / United States

Naksh / website / Small Builder / India

3six9 NFT Marketplace / website / Activation / Malaysia

Solar Dex / website / Activation / United States

Other projects

Name / Website / Grant track / Location

Three0 / website / Builder / United States

NextHollywood / website / Builder / United States

Crowdclass / website / Builder / Portugal

Alpha Leaks/ Activation / Australia

1.3 Completed Projects & Milestone data

Grant agreements are structured with milestones. Depending on the selected grant track, a grant can have from 1 to 5 milestones. For more information the funding team invites you to explore our milestone guide.

Projects having completed a milestone ☑️61Projects having completed final milestone ✅13

Projects completed per category

Gaming / Metaverse — 1

Infrastructure / Wallets — 5

NFTs — 1

DAOs — 3

Other — 3

Gaming / Metaverse

Alien Esports Industry / website / Builder / United States

Alien Esports Industry is a platform to hold esports tournaments with integrated game mechanics that provide unique opportunities to gamers.

Infrastructure / Wallets

Kuutamo / website / Advanced Builder / Denmark

Kuutamo is building out an enterprise-grade staking node management and reporting system dedicated to support NEAR and NEAR-affiliated networks. Kuutamo will provide practical tooling to enable individuals and organizations to operate secure, honest, and profitable validators in a straightforward way.

Blockperks / website / Advanced Builder / United Kingdom

Blockperks is building a complete Web3 infrastructure and NFT marketplace for brands, artists, and creators to successfully bridge from Web2 to Web3 with NEAR. Blockperks provides the platform architecture and an adaptive social media dApp so that organizations, clients, and end-users can easily onboard and tokenize assets through the creating and trading of NFT’s.

Solace Protocol / website / Activation / India

Solace is a program (smart-contract) based non-custodial wallet for NEAR which eases user’s onboarding and enhances security using social recovery, written in Rust.

Emblem Vault / website / Builder / United States

Emblem Vault is an application that collects the value of a portfolio within a token, you can also add non-blockchain assets to the portfolio.

Java SDK — Part 3 / website / Small Builder / Switzerland

From the team who delivered the Java-API part 1/2 and that took over the Borshj for maintenance. This time they would like to further enhance the Java API and implement services to create accounts, manage additional reward structure, and call other smart contracts methods.

NFTs

NFT Marketplace for Science IPs / website / Advanced Builder / United States

NFT Marketplace for Science IPs is building a NFT marketplace for science IPs on top of our data & AI ecosystem platform, for which the project innovates with smart contracts for best services to scientists worldwide.

DAOs

Deep Skills / website / Builder / British Virgin Islands

Deep Skills aims to diverse options of how current organizations recruit, educate, and coordinate talented individuals.

Gyde / website / Builder /United States

Gyde connects users with helping services that they are looking for. The DAO provides incentives via a token to allocate to reviewers on the platform. The DAO also acts as a data provider selling to governments and think tanks driving incentives for power users.

NEAR Alexandria / github /Builder / Brazil

NEAR Alexandria is building the largest virtual library for NEAR content and academic content. The team will use metabuilders, meta designers, NEAR DAO council members and academics to build the virtual building, the objects, and the links from all the real books, papers, articles and texts in general that will be in the library.

Other

Vital Point AI / website / Builder / Canada

Vital Point AI is focused on open-source blockchain development using NEAR Protocol. With a proven record of delivering quality tutorials and dedication to the NEAR ecosystem, helping scale Vital Point Academy will benefit NEAR and the ecosystem in various ways.

Aerx / website / Builder / Russia

A decentralized modular social network where any user can own their content according to the create2eart principle.

NEAR NYC / website / Builder / United States

NEAR NYC is a dedicated NEAR community in NYC that will scale NEAR awareness and education by organizing bi-weekly meetups, managing localized social media accounts (Twitter, Telegram, Instagram, Meetup, Eventbrite), establish partnerships with community leaders, and organizing a NEAR NYC hacker house.

1.4 Effectiveness of the funding program

Total external funding (overall amount) came from projects that have received a grant (around 44%).

2. External funding in the NEAR Ecosystem

This section provides information about external funding in the NEAR ecosystem

  • 12 closed projects in Q3 ’22 — ($92.2M)
  • 4 finalizing rounds
  • 18 new fundraising processes kicked off
  • 38 VC intros made

Closed Rounds (September data)

  • Sender Wallet — Raised a $4.5M private round led by Pantera Capital with participation from Crypto.com, Jump, Amber Group, Woo Network, SevenX Ventures, Shima Capital, and others.
  • Hillridge — Raised a $2.3M seed round to address climate protection in the agriculture industry with their Insurtech solution building on NEAR.

Closed Rounds (Q3 data)

  • Portalverse Network — raised a multi-million $ seed round with participation from Big Brain Holdings, 2Moon Capital, and Cogitent Ventures to bring the first decentralized cloud gaming and rendering network to the NEAR ecosystem.
  • Scorefam — secured a capital commitment of up to $25M from GEM Digital to expand their gaming NFT suite of products.
  • Token Terminal — raised $6.5M to expand their crypto asset data coverage, which will soon include NEAR Protocol and NEAR ecosystem projects.
  • Mystiko.Network — raised a $10M round this past month. Mystiko received a grant from NEAR Foundation to support NEAR through their transaction privacy layer.
  • Sweat Economy — raised $13M in funding including a private token sale, to accelerate their move into Web3.
  • Niche — closed a $1.8M pre-seed to bring decentralized social media to NEAR.
  • Aurigami — raised $12M in token rounds earlier this year to continue to grow DeFi on Aurora.
  • Play Ember — just closed a $1.4M token seed round to bring mobile gaming to NEAR. The team is currently exploring an equity round at this moment as well.

3. Ecosystem highlights

NEARWEEK is the one-stop-shop for all NEAR related news. Each weekly newsletter and edition is made possible via news contributions from the NEARWEEK community to the NEWS DAO. Subscribe or visit NEARWEEK.com to get your weekly dose of news from the NEARverse!

For the month of September we invite you to read through the following newsletters :

Newsletter 74

Newsletter 75

Newsletter 76

Newsletter 77

If you are interested in getting funded :

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NEAR Team

NEAR is the network for a world reimagined. Through simple, secure, and scalable technology, millions are empowered to invent and explore new experiences.