Invesco, a global asset management firm, has [launched a $30M Metaverse-focused investment fund](https://www.cryptotimes.io/invesco-launches-multi-million-dollar-metaverse-fund/).
 
Registered in Luxembourg, the Invesco Metaverse Fund has around $30 million in capitalization. The Metaverse is a network of immersive 3D worlds and online communities where people interact using virtual reality headsets and augment reality.
 
The Metaverse fund will be invested in large, medium, and small-cap companies across the Metaverse Value Chain, which "encloses many different interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds."
 
According to Tony Roberts, a fund manager at the investment firm, The interconnectedness of the Metaverse "will probably have a transformational effect across businesses as diverse as healthcare, logistics, education, and sport," noting a PWC December 2020 report that estimates virtual and augmented reality has the potential to add $1.5 trillion to the world economy.
 
Roberts continued, “We will aim to take advantage of these possibilities in a selective, valuation-conscious manner”.

## 7 core investment areas

The Invesco Metaverse Fund is an actively managed fund that will invest in seven key core areas, including:

1)	hardware and devices that provide [Metaverse](/news/article/farming-games-in-metaverse) access
2)	next-generation operating and computer systems
3)	hyper-connected networks
4)	artificial intelligence
5)	blockchain solutions
6)	interchange tools required to achieve system interoperability
7)	Other services and assets that will aid in digitizing the real economy.

All of these areas of focus are envisaged to plug together to form the Metaverse and next generation of the internet, also known as Web 3.
 
 
In March 2019, Invesco launched its first blockchain-related exchange-traded fund (ETF) on the London Stock Exchange. The firm was also actively seeking to launch several Bitcoin-related ETFs in the United States but to no avail.
 
Invesco partnered with crypto indices provider CoinShares in November last year to launch its first European exchange-traded product (ETP) backed by physical Bitcoin.

Fund investing is a great way to get exposure to companies involved in providing the picks and shovels needed to create the Metaverse, and that is where Invesco see’s the market opportunity which will appeal to investors.


Invesco launches $30M Metaverse fund

Seed funding worth $9 million has been raised at the startup crypto exchange [Rocketplace](https://rocketplace.com/). It is a US-based startup looking to enter the digital asset management space. The firm aims to allow investors to do commission-free cryptocurrency trading. It is currently dealing with over 30 different tokens on which it charges 0% commission.

Recently, the company started a financing round in which it was able to secure a $9m in its seed funding round. It is quite remarkable as the market is going through a bear run, and cryptocurrencies are rapidly losing their value. Moreover, many digital asset companies like Celcius and Voyager have filed for bankruptcy. 

Earlier, one of the leading decentralised cloud computing networks, Cudos, concluded its series of funding rounds and secured over [£10 million](/news/article/cudos-funding-over-10-million). 

## Rocketplace plans to grow its crypto offering with seed funds

Ben Hutchinson and Louis Beryl, who are the co-founders of Rocketplace, will mainly focus on fund management and distribution. They believe that cryptocurrencies are likely to see an explosion of new projects. And in this scenario, services related to administering and distributing funds will be in high demand. 

Also, Louis Beryl mentioned that their distribution model will also be in full compliance with regulations. It will educate investors to comprehend the regulations to correctly follow them. This is why they claim ‘to not just be another exchange’.

## How did Rocketplace secure the seed fund crypto?

As of now, Rocketplace is only a 10-member company, having two experienced co-founders. Both Hutchinson and Beryl have been in the industry for a long period. They have worked with firms like Earnest, Y Combinator, a16z, and SolidEnergy Systems. Their reputation of prior experience and expertise allowed the startup to secure substantial funding in the seed round. 

It acquired financing from renowned firms like Accomplice, TTV, Soma Capital, and Menlo Ventures. Moreover, throughout the funding round, Launchpad Capital was the lead investor for the firm. 



Rocketplace crypto exchange lands $9m seed funding

[Monochrome](https://monochrome.co/), a capital growth fund, has been granted an Australian financial services licence (AFSL). It has become the first crypto firm in the country to secure approval. Now, Monochrome can expand its services by offering [Bitcoin spot Exchange-traded Fund](/news/article/btc-etf-approval) (ETF) in Australia. 

Former Binance Australia CEO Jeff Yew established Monochrome in 2021. Since February, the firm has been working on the crypto Exchange-traded fund. For this, they partnered up with the [Vasco Trustees](https://vascofm.com/), which helped the firm to get the licensing from the country’s authorities. The Australian Securities and Investments Commission (ASIC) granted permission for Monochrome to launch the crypto spot exchange traded fund. 
 
## The first AFSL-approved crypto ETF Australia

Monochrome crypto ETF will be the first AFSL-approved one in the country. Though the Australian ETF market is quite saturated, no asset managers are dealing with cryptocurrencies directly. Most fund managers operate as general financial asset managers and do not offer digital assets directly. Also, these firms are only compliant with the regions financial regulations to offer a crypto based product.

With Monochrome receiving an Australian financial services licence. This will allow it to offer a crypto spot ETF in the publicly traded and regulated Australian financial market, making it the first exchange to achieve it.  

## Jeff Yew on the AFSL approval

While sharing his views on the approval, Monochrome’s CEO said it is a significant move that will introduce direct dealings with the cryptocurrencies in the country. He also mentioned that their fund will be a secure option for the investors as it will work within the ASIC’s regulations. 

Moreover, Jeff Yew disclosed that the investors can not only deal with Bitcoin but can also invest in other cryptocurrencies like Ethereum (ETH), Binance coin (BNB), and others. 

The final date for the Bitcoin spot ETF Australia launch is not yet finalised. However, it is has been said that it is likely to be launched next month. This move will give crypto trading exposure to the Australian market with substantial transparency and security.
 



Monochrome to offer crypto spot ETFs in Australia

Ukrainian Deputy Prime Minister revealed that the crypto community had contributed [$54 million in crypto funds](https://cointelegraph.com/news/aid-for-ukraine-s-54m-crypto-fund-buys-vests-scopes-and-uavs) through "Aid For Ukraine" initiative to support the country's military efforts against Russia.

On Thursday, Ukrainian Deputy Prime Minister Mykhailo Fedorov's disclosed via his Twitter post that the $54M was channeled through the Ukrainian government-run initiative "Aid For Ukraine."

The crypto fund initiative operates by transferring cryptocurrency to the crypto exchange FTX, which converts cryptocurrency into fiat currency, which is then withdrawn and transferred to the National Bank of Ukraine.

## Funding received and its usage by Ukraine

According to Ukrainian Ministry of Digital Transformation, the initiative received $54 million in the form of 595 [Bitcoin](/articles/learn-moni/what-is-bitcoin) worth $13.9M, 10,190 Ether worth $18.7M, USD Coin worth $2.2M, and Tether worth $10.4M.

The cryptocurrency payments have gone toward military equipment, hardware, and munitions, including unmanned aerial vehicles (UAVs) worth $11.8 million, which are typically used to locate enemy troops and targeted attacks.

Among other army and medical accessories, the donations also included $6.9M for armour vests, $3.8M for field rations, $5.2M for anti-war media drive, and $5M for "weapons of the Ministry of Defense request.”

"Crypto is playing a critical role in Ukraine's defence," said Deputy Minister of Digital Transformation Alex Bornyakov on the government-affiliated donation website.

Founder of the Ukrainian crypto exchange KUNA Mike Chobanian added that the crypto community's contributions had demonstrated blockchain technology's influence on nation-states, claiming that it can serve as a "backbone of global security" in times of crisis.

However, the Aid For Ukraine crypto fund is not the only campaign raising funds to support Ukrainian defence efforts. The Reserve Fund of Ukraine, Come Back Alive, UkraineDAO, and Unchain Fund have also contributed funds in the seven-figure range. However, the amount of cryptocurrency-based funds they've received hasn't been disclosed since March 2022.



Crypto has funded $54M to Aid for Ukraine

One of the leading decentralised cloud computing networks, Cudos, concluded its series of funding rounds. In this successful series, [Cudos funding](https://www.cudos.org/blog/cudos-raises-10million-in-funding/) hit the £10 million mark. Initially, the firm raised around £2 million in seed funding and has further capitalised on that with a series of subsequent funding rounds. 

Cudos is one of the projects of the Cudo ventures. It has now become a global leader in cloud computing and blockchain-related services. The firm is working on providing sustainable and decentralised cloud computing services with its innovative approach. 

Let's see how Cudo Ventures managed to close the capital and what its plan is to grow after securing the substantial Cudos funding! 

## What's Cudo Ventures?

Cudo Ventures is a highly acclaimed, United Kingdom-based firm. A serial tech entrepreneur, Matt Hawkins founded the company in 2017 and still serves as its CEO. Its offerings involve cloud computing networks and developing decentralised platforms. It also has two more projects under its umbrella. These projects are related to sustainable computing and [crypto mining](/news/article/sustainable-mining). 

The firm has launched its own digital token, known as CUDOS. It is the native token that helps in monetising platforms by working as a utility token for them.

## The services Cudos offers

The venture has three main projects in its ecosystem, offering different services. All these projects can work together to combine the power of cloud computing and blockchain technology. These projects include:

1.	Cudos - A decentralised cloud-based computing network.

2.	Cudo Compute - Sustainable computing that utilises the unused power from systems

3.	Cudo Miner - An automated crypto mining service.

## How did Cudos funding raise £10 million?

The press release from the company disclosed that its worth had reached £10 million. It also declared that the Cudos funding took place in a series of rounds. Moreover, it also provided a breakdown of the capital. 

The initial seed funding for the company raised around £2 million. Then, in the pre-series A round, it closed another £2 million. This was further followed by £3.7 million for the token raise. Apart from that, an advanced subscription agreement (ASA) added £2.2 million. Lastly, the firm's strategic partners helped in raising £1 million.

The network has the support of numerous enterprises that helped it secure decent funding rounds. It is backed by enterprises like [Moonrock Capital](https://www.moonrockcapital.io/), BlackDragon Research, BMW Capital, [CSP DAO](https://cspdao.network/), Floem Capital, Exnetwork Capital, and others.  

## What does Cudos funding mean for its growth?

As the company has managed to secure modest capital, it is now looking to expand its business. The firm is looking to attract crypto investors by launching it on several exchanges. After the funding, it launched its token on the Bitmax exchange. 

Moreover, the Crypto.com exchange has also listed the coin, which is now available in over 90 countries. Other notable exchanges that listed the token are Kucoin, Huobi Global, and Bittrex Global. 

In addition, Cudo also launched a mainnet for its network that will further help build decentralised computing infrastructures. Matt Hawkins, the CEO of Cudo, termed the launch an 'incredible achievement.' Also, he expressed that the mainnet launch will help develop sustainable and decentralised computing networks for a more connected world. 

Non-fungible tokens might also enter the Cudos network. Its roadmap suggests that the network may introduce native support for NFTs usage. Also, there can be a bridge between Ethereum and Cudos for conveniently transferring NFTs. With all these innovations, the company seeks to expand its operations. 



Cudos funding round secured over £10 million

One of the leading Solana NFT marketplaces, Magic Eden, has announced a venture capital fund focusing on web3 games. The marketplace is looking to expand in the web3 games as it has launched an investment arm. 

Magic Eden is a Solana NFT marketplace that recently became a crypto unicorn startup. It's worth reached more than $1.6 billion. Now, the marketplace is preparing for expansion as it will focus on web3 games. The platform has announced a venture capital fund specifically for web3 games. 

## What's the gaming VC fund for Solana NFT marketplace Magic Eden for?

A venture capital fund is a pool of investments of small or medium-sized companies or startups. It is used to organise and regulate all the funds for the company's growth. Magic Eden, a growing startup that deals in Solana NFTs, has also announced a venture capital fund. 

According to the [press release](https://www.prnewswire.com/news-releases/magic-eden-launches-magic-ventures-with-focus-on-web3-gaming-301584577.html), the company has named the recently launched investment arm Magic Ventures, which is dedicated to web3 games. In addition, it will also scale up its gaming subsidiary, Eden games, through it. 

The company has diversified its team by onboarding several experienced game developers. Moreover, the company has established new partnerships with various gaming leaders.

## Tony Zhao, the head of gaming investments at Magic Eden

Besides, Magic Eden has appointed Tony Zhao as the gaming investments head. Zhao is a prominent name in this industry as he was associated with the leading Chinese game company, Tencent.  

It is expected that the appointment of Tony Zhao will help Eden games to develop its portfolio. Zhao will be working on developing web3 game infrastructures which can turn this Solana NFT market into a promising web3 games startup. 

In other news, Shanghai has developed a five-year plan that includes policies for crypto, NFTs, and also web3. Moreover, a leading video game enterprise, GameStop, has introduced its own marketplace for NFTs. Learn more about cryptocurrency, NFT, and blockchain-related news on [Moni Talks](/news). 
  



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Crypto Funding News

Read the latest Crypto Funding news.

Invesco launches $30M Metaverse fund

Rocketplace crypto exchange lands $9m seed funding

Monochrome to offer crypto spot ETFs in Australia

Crypto has funded $54M to Aid for Ukraine

Cudos funding round secured over £10 million

Solana NFT marketplace launch Web3 gaming fund

Crypto app and Mastercard launch first NFT card

Crypto lender Voyager's assets auctioned to FTX US

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