In the midst of the crypto winter, the blockchain investment firm Hashed has announced a robust investment of $28.44 million in 2023, signaling resilience in the volatile market. Hashed strategically diversified its portfolio, focusing on early-stage projects in blockchain infrastructure, gaming, finance, and IP integration, with an eye on long-term growth and user engagement.
This year, Hashed strategically allocated resources across various sectors, making a total of 29 investments. Blockchain infrastructure, gaming, and finance sectors each accounted for a significant 21% share of the investment pie, while IP and content-related ventures received 15%.
Geographical distribution was equally diverse, with South Korea leading at 38%, North America at 21%, Europe at 7%, and other Asian regions including Singapore at 34%. The 20 new investments, mostly ranging from seed funding to Series A, reflect Hashed’s commitment to fostering innovation.
Notable ventures include Radius, a joint ranking layer developer; Centralized Gaming Ventures (CGV), a Web3 gaming venture studio; AnotherBall, operator of the video chat platform Izumo; and DeLabs, a Web3 gaming studio. Ongoing investments in nine projects like Archway, Payhere, and Dfns further solidify Hashed’s dedication to supporting promising projects.
Hashed manages two funds, Fund 1 with $92.7 million and Fund 2 with $184 million, playing a significant role in the development of the Web3 ecosystem. With investments in 86 companies through Funds 1 and 2, Hashed’s participation is globally expanding, with 55% directed towards domestic companies.
Layer-1 Blockchain Aptos is showcasing impressive performance with over 20,000 transactions per second (TPS) and 7.3 million active wallets. Other success stories include Story Protocol, supported by a16z, which recorded a successful hackathon and launched its alpha version. Decentralized exchange dYdX has reached the highest trading volume among decentralized exchanges, while Dune, an on-chain data analytics platform, maintains its dominant market position.
Beyond investments, Hashed has been contributing significantly to the Web 3.0 ecosystem. Supporting over 80 meetups, including hackathons and blockchain conferences, Hashed has co-organized Korea Blockchain Week for six years, making it one of the largest blockchain events in Asia. Protocol Camp, a Web 3.0 creator bootcamp, has graduated 59 students across five groups, significantly contributing to talent development. Hashed’s policy think tank, Hashd Open Research (HOR), conducts vital research and policy recommendation activities to foster a robust ecosystem.
Hashd CEO Seojoon Kim reflects on the challenges and successes of 2023 and anticipates significant growth in 2024. With the expected entry of institutional investors, approval of a Bitcoin ETF, and global platform companies launching wallets, Hashed is well-prepared for a notable year of expansion and progress in the blockchain space.
