DoraHacks Raises $20 Million from FTX Ventures, Others, to Launch Its NFT-Focused Fund and More

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NFT
DoraHacks Raises $20 Million from FTX Ventures, Others, to Launch Its NFT-Focused Fund and More

DoraHacks has successfully raised $20 million via a funding round led by FTX Ventures, and Liberty City Ventures, with participation from other notable investors, including Circle Ventures, Gemini Frontier Fund, Sky9 Capital, Crypto.com Capital, and Amber Group. The firm says the funds will be used to launch its decentralized grant platform and a non-fungible token (NFT) focused fund, according to a May 18, 2022 announcement.

DoraHacks  Raises $20 Million 

DoraHacks, a global leading hacker organization that acts as a bridge connecting hackers to enterprise challenges and entrepreneurial ideas, has raised $20 million in its Series B1 fundraise.

Per sources close to the matter, the funding round was led by FTX Ventures, the venture capital arm of Sam Bankman-Fried’s FTX crypto exchange and Liberty City Ventures, with participation from other investors, including Crypto.com Capital, Amber Group, Circle Ventures, Gemini Frontier Fund, and Sky9 Capital.

Established in 2014, by Jiannan Zhang, DoraHacks has functioned as a curator for more than 200 Web3 startups and blockchain projects, including Solana, Polygon, and Avalanche, amongst others.

DoraHacks Grant DAO and Dora Infinite NFTs Fund

Notably, investors that took part in the latest DoraHacks fundraise have made it clear that they see their participation in the round as an attractive opportunity to put themselves in the frontline of blockchain development.

Since 2020, the firm has invested in and incubated several projects, including Dora Factory, Zecrey, Thetan Arena, a play-to-earn platform, and more. DoraHacks will use the funds as a capital to launch its non-fungible tokens (NFTs) focused fund dubbed Dora Infinite Fund and Dora Grant DAO, a decentralized grant community.

It will be recalled that DoraHacks raised $8 million in November 2021, in a funding round led by Binance Labs.

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.