mimStream Fuels ANT.FUN's SocialFi-DeFi Hybrid to Tackle Web3 Adoption

Decentralized exchange platform ANT.FUN has completed a multi-million-dollar Series B1 funding round led by mimStream Investment, a U.S. dollar-backed venture capital firm focused on artificial intelligence and Web3[1]. The round also attracted participation from leading domestic brokerage funds and personal overseas investment platforms of senior executives from top international investment banks. mimStream, which has a portfolio including AI-driven platforms like Ximalaya and Fanshu Media, will assist ANT.FUN in expanding its social media reach and establishing a traffic-to-conversion system, with plans to launch short video and livestreaming features soon.

The funding marks a strategic pivot for ANT.FUN, which aims to leverage mimStream's expertise in AI and Web3 to enhance its decentralized trading ecosystem. The platform's CEO emphasized that the investment will accelerate the development of user engagement tools, including social media integration, to compete in the rapidly evolving Web3 landscape[1]. This move aligns with broader trends in the crypto sector, where venture capital firms are increasingly prioritizing startups with scalable, user-centric models over speculative projects[4].

ANT.FUN's funding comes amid a surge in Web3 investment activity, with global venture capital firms deploying over $30 billion into crypto startups in 2021 alone[5]. The platform's focus on social media and content-driven features reflects a growing emphasis on hybrid models that blend decentralized finance (DeFi) with SocialFi, or social finance, to monetize creator content[4]. This strategy mirrors efforts by Web3 firms to address scalability and user adoption challenges, as highlighted in recent critiques of the sector's centralization tendencies[4].

The Series B1 round also underscores the role of Hong Kong as a emerging hub for blockchain innovation. Ant Group, the parent company of ANT.FUN, has separately launched Zan, a blockchain venture targeting Web3 developers in the Asia-Pacific region[2]. Zan's CEO has emphasized Hong Kong's regulatory environment as a critical enabler for global expansion, a sentiment echoed by ANT.FUN's strategic focus on cross-border collaboration[2]. Meanwhile, Ant International, another Ant Group subsidiary, has denied rumors of integrating Circle's USDC stablecoin but affirmed its commitment to Hong Kong's blockchain ecosystem.

Industry analysts note that ANT.FUN's funding reflects a broader shift in Web3 investment toward projects with clear regulatory compliance and real-world applications[4]. For instance, the Hong Kong Monetary Authority's Ensemble sandbox program-participated in by Ant Digital Technologies-has facilitated experiments in asset tokenization, including electric vehicle charging stations and shipping industry bills of lading[3]. Such initiatives highlight the potential for blockchain to streamline traditional financial infrastructure while navigating regulatory scrutiny.

The completion of ANT.FUN's Series B1 round positions the platform to capitalize on the $10 trillion global Web3 market, projected to grow as institutional investors and tech giants like Alibaba and JD.com deepen their blockchain strategiesthe complete web3 vc investment funds list 2024 - Lunar Strategy^[5]. With mimStream's backing and a roadmap that includes AI-driven user analytics and decentralized content monetization, ANT.FUN aims to bridge the gap between Web2's social media dominance and Web3's decentralized ethos[1].