VC Roundup: Investors continue to back DePIN, Web3 gaming, layer-1 RWAs

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Alchemy, Mavryk, Rho Labs, Teneo, Fluent Labs, The Game Company and ACID Labs headline the latest venture capital roundup.

The first quarter of 2025 has been highly volatile for crypto. Investor sentiment has swung from one extreme to the other as Bitcoin (BTC) rallied to all-time highs, endured a major correction, and received a major presidential boost from Donald Trump.

Amid all the noise, venture capital firms continued to broaden their exposure to blockchain and crypto startups across decentralized physical infrastructure networks (DePINs), Web3 gaming, real-world asset (RWA) tokenization and derivatives exchange markets. 

The latest edition of VC Roundup features seven funding announcements from across the industry. 

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