South Korea’s Largest Crypto Venture Invests $28.44 Million in Blockchain Projects
Hashed, the biggest crypto venture in South Korea, has invested 36.8 billion won ($28.44 million) in blockchain projects this year. Despite the challenges faced during the crypto winter, Hashed managed to make numerous new investments in blockchain infrastructure and gaming projects throughout the year. The focus of these investments was on early-stage ventures that have the potential to attract more users by improving blockchain infrastructure and integrating content and intellectual property rights.
Investment Distribution
Hashed made a total of 29 investments, with an almost equal distribution across sectors. Blockchain infrastructure, games, and finance each accounted for 21% of the investments, while IP and content-related startups received 15% of the allocations. Additionally, Hashed invested in a diverse range of early-stage startups capable of leveraging blockchain infrastructure in various fields such as O2O platforms, sharing economy initiatives, and artificial intelligence startups.
Geographical Distribution
Korea held the largest share at 38%, followed by North America at 21%, Europe at 7%, and other Asian regions including Singapore at 34%.
Hashed Invests in New Crypto Companies
Among Hashed’s investments were 20 new companies, mostly early-stage startups ranging from seed to Series A stages. Some of these companies include Radius, Decentralized Gaming Ventures (DGV), Another Ball, Izumo (operator of the Virtuber platform), and DeLabs.
Follow-Up Investments
In addition to new investments, Hashed also made follow-up investments in companies such as Archway, Payhere, and DFNS.
Total Portfolio and Performance
Hashed currently manages two funds, with a total portfolio of 86 companies. The proportion of investments in domestic companies stands at 55%. Several portfolio companies have demonstrated notable performance throughout the year, including Aptos, Story Protocol, Dune, and dYdX.
Hashed’s Contributions to Web3
Aside from investments, Hashed actively contributes to the Web3 ecosystem through initiatives such as supporting meetings and hackathons for college students, co-hosting blockchain conferences like Korea Blockchain Week, conducting the Hashed Protocol Camp, and engaging in research and policy proposal activities through Hashed Open Research (HOR).
Hot Take: South Korea’s Crypto Venture Continues to Lead Investments in Blockchain Projects
Despite the challenges posed by the crypto winter, South Korea’s largest crypto venture, Hashed, remains committed to investing in blockchain projects. With a focus on early-stage ventures and a diverse range of sectors, Hashed has allocated a significant amount of funds to enhance blockchain infrastructure and integrate content and intellectual property rights. The company’s investments in new crypto companies and follow-up investments demonstrate its dedication to fostering the development of a Web3 ecosystem. Additionally, Hashed actively contributes to the Web3 community through various initiatives and events. As a result, Hashed continues to play a leading role in supporting the growth and innovation of blockchain technology in South Korea and beyond.
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