2024: A Year in Review

As 2024 comes to an end, it’s time to reflect on an incredible year of growth, innovation, and milestones at Morningstar Ventures. From exciting new investments in projects to hosting unforgettable events, we’ve had a year of progress and collaboration.

Investments & Portfolio Companies

This year, we’ve been proactive in identifying and connecting with innovative Web3 projects. Thanks to the efforts of our investment team, we’ve successfully selected and supported some top ventures with our capital and expertise.

Our 2024 investments span across diverse sectors, including infrastructure, gaming, and the Bitcoin ecosystem, featuring KIP Protocol, Cudis, Lingo, Movement Labs, Sonic, PINGPONG, COTI, Tap Protocol, Gudchain, Kollectiv, Bondex, Playember, Sharpe, Allo, Merkle Trade, E Money Network, Defi.Money, Tevaera, Treat, Evedex, Nexio, Tadle, ETHgas and Synthr.

We also made big new bets via follow-on investments in existing projects such as Gunzilla Games, XION, Particle Network, and Ethernity.

• Gunzilla Games: Our flagship investment and the gaming publisher behind Off The Grid, a Web3 game making waves globally. Since its launch on PS5, Xbox, and PC, it has achieved over 11.7M users, 233 million transactions, 14.5 million blocks mined, 4 million+ Twitch watch hours, and a peak of 155,274 viewers.

• XION: An infrastructure project focused on simplifying crypto through Generalized Abstractions. With the successful launch of the $XION token this month and major partnerships, the team has laid a strong foundation for 2025. More than 4.25 million meta accounts have been created, and over 200 projects are actively building within the XION ecosystem.

• Particle Network: A modular Layer-1 blockchain platform that streamlines cross-chain interactions with universal accounts, liquidity, and gas solutions, serving over 4 million daily users across 56 chains, securing $2 billion in assets, and partnering with 60+ blockchain projects while integrating with 900+ dApps.

• Ethernity: An entertainment-focused Layer 2 blockchain platform built on Ethereum, designed to bring global entertainment franchises onto the blockchain with enhanced security, low transaction costs, and AI-driven digital rights management. It has conducted over 2.74 million transactions on its testnet and counts over 127,000 Twitter followers.

Last but not least, we have made several liquid bets on traded coins such as humans, Injective, World Mobile, Zentry, Covalent, and Biconomy.

Achievements & Initiatives

• MSV Creators: We launched a platform to connect content creators with exclusive events, deal flow, and performance analytics within the Web3 ecosystem. Learn more: here

• Podcasts Recap: In 2024, we hosted 14 Twitter Spaces, attracting more than 30K listeners. If you missed our sessions, you can visit our Spotify page here. In the meantime, feel free to check out some of our best sessions:

1. Roundtable: "How Blockchain Technology Is Shaping the Future of Gaming" with Sonic, Legend of Arcadia, and PlayEmber
2. Roundtable: “Growing the Bitcoin Ecosystem” with TAP Protocol, XVerse, and Bitfinity

Events and Conferences

Our investment team has been actively participating in and hosting events worldwide to strengthen our presence in key regions and forge connections with founders, builders, and investors. We have hosted over 8 events across 10 countries and 12 at our Web3 space 37xDubai.

• Token 2049 Series: To celebrate the crypto community’s gathering at this year’s Token 2049 conference in Dubai, we hosted a week of side events at 37xDubai, our premier Web3 venue, welcoming more than 5k attendees. See highlights: here

• Gaming Night Series: We organized two successful events (Bangkok & Dubai) centered around the Off The Grid game, bringing gamers together to play, connect, and engage. Building on this success, we are excited to announce plans for new gaming events in the near future. Check our past events: here

• Binance Private Meetup: We are proud to have hosted Binance for a private event at 37x to bring together blockchain enthusiasts and community leaders for insightful discussions and networking. Watch our event recap: here

That's it for 2024! Thank you again for your continued support. We look forward to connecting with many new founders and our community throughout 2025.

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