Irreverent Labs, Lighthouse Labs, N3TWORK Studios, DoraHacks, iZUMi Finance, Common and Centrifuge headline the latest funding deals from the world of blockchain.

Bitcoin (BTC) and the broader cryptocurrency market have provided very little comfort in recent weeks, as macroeconomic headwinds and the implosion of the Terra ecosystem continue to reverberate. But, if we look beyond the immediate price action, we observe an industry that continues to grow and evolve, as well as attract sizable capital investments from major funders. The latest edition of venture capital (VC) Roundup highlights the continued growth of Web3 gaming, metaverse applications and even decentralized finance (DeFi) protocols.

Andreessen Horowitz backs Irreverent Labs

Blockchain video game developer Irreverent Labs has raised $40 million from venture capital firm Andreessen Horowitz (a16z) to further the development of its immersive play-to-earn game Mecha Fight Club. Andreessen’s general partner Arianna Simpson described the “outlandish” premise of the game in a blog post: “Robotic roosters and hens battle it out in a hilarious combat sport that is part MMA, part Tamagotchi, part Gundam Wing, part Mortal Kombat, with a twist of humor from Family Guy, Monty Python and South Park.”