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The Venture Codex

Formless Capital

201 Folsom St, San Francisco, California, 94105, United States

Overview

Formless Capital is a cross-border investment fund that invests in the future of blockchain and technologies.

Total investments
14
Lead investments
0
Investments · 12mo
0
Active investors
1
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Investment portfolio

  • Blade Games

    Participated · Seed · May 2024

    Blade Games develops a proprietary zk game engine that runs game logic inside a zkVM and pushes state diffs as zkSNARK proofs to the chain for L2 verification. The engine currently supports survival, tower defense, RPG and roguelike card-building game genres. Blade Games also publishes games built on that engine; its in-house title Dune Factory entered closed beta on May 1 and is planned for public beta at the end of May. The studio positions itself as both a game developer and infrastructure provider for other studios seeking zk-native game execution. Financially, Blade Games has just completed a seed financing to support product and go-to-market activities. No operating metrics (revenue/users) are reported in the article.

  • Rug.ai

    Participated · Seed · Apr 2024

    Rug.AI is an artificial intelligence security platform focused on on-chain security. The company aims to create end-to-end on-chain security solutions. It announced the completion of a $1.1M Pre-Seed financing. The round was led by No Limit Holdings and included both institutional and angel participants. Participating investors named in the article include Mask Network, Builder Capital, Formless Capital, Prismatic Capital, Roshun Patel, Pentoshi, Avi Felman, MacnBTC, and Andrej Radonjic. The financing was reported by IT桔子 and DoNews.

  • bbox

    Participated · Seed · Feb 2024

    BBO Exchange operates a remote decentralized derivative trading platform focused on perpetual DEX trading. The platform incorporates Oracle Extractable Value into its liquidation process and uses an auction mechanism that capitalizes on latency in oracle price updates. It also features a multi-asset, signal-driven dynamic distribution AMM that lets liquidity providers correlate price ranges with other assets, emulating proactive market maker strategies while preserving passive liquidity provision. BBO provides an interface and a scalable SDK designed for both DeFi power users and casual investors. The company says its Beta is open for registration and will use the funds to continue developing the platform. Last year BBOX was one of 12 projects selected by Binance Labs in its incubation Season 6.

  • Forge

    Participated · Seed · Oct 2023

    Forge is a platform that allows players to link disparate online gaming and social accounts to create a unified Forge profile representing their gaming history and achievements. At launch in beta, users can access a seasonal Season Pass with quests to earn XP, level up, and unlock in-game content and rewards such as cosmetics, item/character unlocks, virtual currency, and early beta access from partner games. The platform also offers weekly bonus rewards for participating beta users, including Amazon gift cards and hardware prizes. Forge originated as a project within GGWP (launched in 2020) and was spun off as a new company founded by Dennis “Thresh” Fong, Kun Gao, and George Ng. For launch week the company is partnering with titles including Genopets, Mojo Melee, Pixelmon, Portal Fantasy, Rushdown Revolt and The Sandbox, and it says new games will be added each week during the beta period. Strategic and financial backers named in the article include Makers Fund, BITKRAFT Ventures, Animoca Brands, Griffin Gaming Partners, Riot Games and Sony Innovation Fund.

  • Curio Research

    Participated · Seed · Feb 2023

    Curio is a San Francisco-based crypto games studio focused on building blockchain-enabled, skill-based wagering experiences. Its flagship title, Duper, launched in May 2024 and is a wagering social strategy game that emphasizes collusion, deception, and team play in 40-minute browser matches. The studio previously developed Treaty, a 4X strategy game that enables on-chain social agreements. Curio aims to integrate stakes and crypto directly into core game design to create accessible, infinitely replayable experiences and intends for Duper to become a household name like Poker or Catan. The team combines web2 gaming veterans from MiHoYo and Lilith with top web3 talent. Financially, Curio announced new capital in 2024 and builds on an earlier raise from 2022. Curio Research is an on-chain gaming lab building next-generation Web3 games and underlying infrastructure focused on composability and user-generated content. Founded in 2022 by Kevin Zhang and Yijia Chen, the company’s first title, Treaty, launched in January 2023 and lets players write and deploy smart contracts called Treaties to define in-game rules and interactions. Curio’s platform enables players to build tooling and applications—marketplaces, lending primitives, guilds—entirely within a shared on-chain universe. The team is also developing custom infrastructure to make on-chain games more performant and accessible to non-crypto native users. Curio positions its games to blur the line between players and developers by enabling user-generated logic and shared multiplayer computation. The recent seed funding will support new game development, onboarding players, and expansion of its development and design team in San Francisco and remotely.

Team