2023 Web3 Financing Report: Infrastructure Sector Leads the Way, 5 High-Potential Projects Favored by Capital

Data shows that there were a total of 1,178 financing events in 2023, with a total financing scale of $2.839 billion.

In terms of financing scale, the infrastructure sector ranks first. Several top investment institutions, such as a well-known venture capital firm, a trading platform laboratory, and an investment fund, have all positioned the infrastructure sector as a key focus area. Although different investment institutions have varying degrees of preference for the sector, the infrastructure sector undoubtedly occupies a significant proportion of their investment landscape. In addition, a well-known venture capital firm pays more attention to the gaming field; an investment company, a venture capital department of an exchange, and a trading platform laboratory focus on the DeFi sector, while the number of investments from an investment fund is relatively small, with investment frequencies in other areas being fairly average.

Here are a few potential projects in the infrastructure sector:

1. B² Network

B² Network is an EVM-compatible Rollup based on Bitcoin zero-knowledge proof verification commitments. Rollup data and zk proof verification commitments are recorded on the Bitcoin network and ultimately confirmed through a challenge-response mechanism.

The project participated in a Bitcoin ecosystem project roadshow organized by a certain institution in 2023 and received investment. According to reports, the core members of the B² Network technology team are active members of mainstream open-source communities such as Ethereum and Bitcoin.

Recently, B² Network will upgrade from the Alpha testnet to the Haven Beta testnet. Currently, their Odyssey mission is underway, and users can participate through the official website.

2. Mind Network

Mind Network is a zero-trust layer designed to bring the next billion users and trillions of dollars to Web3. The project offers security and data privacy solutions that enable true CrossFi scale, comply with regulatory requirements, and adhere to Web3 principles of asset tokenization and personal data ownership. Previously, Mind Network was also selected for the fifth season incubation program of a certain exchange platform's lab and the BUILD program of a well-known project.

On June 29, 2023, Mind Network announced the completion of a $2.5 million seed round financing, with participation from several well-known investment institutions.

3. Omni Network

Omni is the interoperability layer for Ethereum, serving as core infrastructure to support all modular applications on Ethereum. Developers will be able to seamlessly build applications that exist throughout the Ethereum ecosystem, while accessing all users and all capital. Omni is the successor to the DeFi protocol Rift Finance, which provided financial services for Web3 projects.

Omni has secured $18 million in funding, with investment firms including several well-known venture capital companies.

In June 2023, the Omni test network went live. Currently, the official announcement regarding any airdrop plans has not been made.

4. Wormhole

Wormhole is a decentralized universal messaging protocol that enables developers and users of cross-chain applications to leverage the advantages of multiple ecosystems.

Wormhole completed a $225 million financing with a valuation of $2.5 billion, with participation from several well-known investment institutions, making it the largest financing round in 2023.

5. CESS

CESS is committed to building a blockchain-based distributed cloud storage system, effectively managing distributed resources through virtualization technology, and providing customers with consistent and efficient distributed storage services. The CESS global content delivery network enables users to easily access their data anytime and anywhere.

In December 2023, CESS completed a financing round of 8 million USD, with participation from multiple investment institutions.

The CESS team won the championship of a Web3 hackathon organized by a certain foundation in 2021 and has completed all three milestones funded by the foundation. According to the officially released roadmap, CESS plans to issue tokens in the 2024 fiscal year. Currently, CESS is active on a certain task platform where users can participate in the testnet phase.