In 2023, Web3 financing focuses on infrastructure, with five potential projects leading industry innovation.

Data shows that there were 1,178 financing events in total in 2023, with a total financing scale of 2.839 billion USD.

From the perspective of financing scale, the infrastructure sector dominates. Several top investment institutions, such as a well-known venture capital firm, a large exchange investment department, and a famous crypto investment fund, have all prioritized infrastructure as a key focus area.

Although different investment institutions have varying preferences for different sectors, the infrastructure sector undeniably occupies an important position in their investment landscape. In addition, a well-known venture capital firm places significant emphasis on the gaming sector; several large investment institutions are more focused on the DeFi sector. Another well-known investment fund has a relatively small number of investments and maintains a more balanced investment approach across various fields.

Here are several potential projects worth paying attention to in the infrastructure sector:

B² Network

B² Network is an EVM-compatible Rollup based on Bitcoin's zero-knowledge proof validation commitment. It records Rollup data and zk proof validation commitments on the Bitcoin network and confirms them through a challenge-response mechanism.

The project participated in a Bitcoin ecosystem project roadshow organized by a certain institution in 2023 and received investment. It is reported that the core members of the B² Network technical team are active contributors in mainstream open source communities such as Ethereum and Bitcoin.

Recently, B² Network has upgraded from the Alpha testnet to the Haven Beta testnet. Currently, users can participate in the ongoing Odyssey mission through its official website.

Mind Network

Mind Network is a zero-trust layer designed to bring more users and greater scale of value to Web3. It provides security and data privacy solutions, supports true CrossFi scalable development, while complying with regulatory requirements and adhering to Web3 principles. The project was previously selected for the fifth season incubation program of a well-known exchange's investment department and the BUILD program of a certain blockchain project.

In June 2023, Mind Network announced the completion of a $2.5 million seed round financing, with several well-known investment institutions participating.

Omni Network

Omni is the interoperability layer of Ethereum, providing core infrastructure support for all modular applications on Ethereum. Developers can leverage Omni to build applications that span the Ethereum ecosystem, enabling seamless access to all users and capital. Omni is the predecessor of the DeFi protocol Rift Finance, which provided financial services for Web3 projects.

The project has secured a total of $18 million in funding, with investors including several well-known venture capital firms.

In June 2023, the Omni test network went live. Currently, the official has not announced any airdrop plans, but it is worth keeping an eye on its developments.

Wormhole

Wormhole is a decentralized universal messaging protocol that enables cross-chain application developers and users to leverage the advantages of multiple ecosystems.

The project completed a $225 million financing at a valuation of $2.5 billion, with several well-known investment institutions participating. This is the largest single financing amount in 2023.

CESS

CESS is committed to building a blockchain-based distributed cloud storage system. It effectively manages distributed resources through virtualization technology, providing users with consistent and efficient storage services. The CESS global content delivery network enables users to easily access data anytime and anywhere.

In December 2023, CESS completed a financing of $8 million, with participation from several well-known investment institutions.

The CESS team won the championship of a Web3 hackathon organized by a certain foundation in 2021 and has passed all three milestones funded by the foundation. According to the official roadmap, CESS plans to issue tokens in 2024. Currently, users can participate in CESS's testnet activities on a certain task platform.