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The amount of venture capital funding directed towards cryptocurrency initiatives in Q1 2024 rose by 38% in comparison to the same quarter last year, indicating potential for continued expansion.
When compared to Q4 2023, the investment volume in cryptocurrency firms saw a 38% increase, while the number of projects receiving funding grew by 49%. This information comes from analysts at Crypto Koryo. The total investments raised surpassed $2.4 billion, as reported by the RootData service.
Specifically:
- In January, $684.16 million was secured across 123 funding rounds;
- In February, investors contributed $760.73 million in 146 funding rounds;
- In March, the total investments reached $1.16 billion in 180 funding rounds.
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The top three sectors for fundraising in Q1 were:
- Infrastructure projects — $408.3 million.
- Decentralized finance — $333.9 million.
- CeFi projects — $304.9 million.
According to Crypto Koryo, venture capitalists in Q1 primarily concentrated on the Web3 sector, with notable funds such as a16z crypto, OKX Ventures, and Multicoin Capital participating. Analysts observe that banks and venture capital firms that previously did not focus on the cryptocurrency market have taken a leading role in this area in earlier periods. Furthermore, there is a consistent upward trend in investment volume within the sector, which may signal a larger influx of capital into the Web3 industry.
GameFi projects garnered nearly $113 million in Q1, highlighting the vigorous growth of the Web3 gaming sector. Among individual initiatives, the EigenLayer restaking protocol emerged as a significant recipient of investments.
Сообщение Web3 Industry Raises $2.5 Billion in Q1 2024 появились сначала на CoinsPaid Media.
