Venture capital (VC) funds invested more than $659 million in crypto startups last month, an increase of 3% compared to August, according to data from DefiLlama.
The blockchain gaming sector grew for the second month in a row, with VC funds pouring $63 million into blockchain titles, posting 32% monthly growth.
Almost half of the funds raised by blockchain gaming startups went toward balance games. The project received $30 million from companies like Animoca, a16z, Aptos Labs, and DWF Labs to combine blockchain and artificial intelligence to create a more enjoyable user experience.
infrastructure
Projects building blockchain infrastructure received $457 million in September, accounting for 71.5% of the funds received by the entire cryptocurrency ecosystem during the same period. This is virtually the same amount the department caught in August.
Celestia (TIA) has raised $100 million in a “strategic” funding round, the largest of any infrastructure startup. The round was led by Bain Capital Crypto, with participation from 1kx, Robot Ventures, Syncracy Capital, and Placeholder.
Additionally, Huma Finance raised $38 million to develop a blockchain-based payment network in a round that included participation from Fenbushi Capital, HashKey Capital, and ParaFi Capital.
Decrease in DeFi funds
Despite steady investment related to blockchain infrastructure, startups in the DeFi ecosystem received $58 million last month, down 55% from August.
Drift led the largest DeFi funding round, securing $25 million in a Series B round led by Multicoin Capital. The second largest investment round by a DeFi startup was led by Puffpaw, a “vape and earn” application developed on Berachain.
Web3 adoption accelerated last month, with $59 million invested in startups building blockchain-based versions of traditional services.
Tune.fm, a decentralized music streaming platform similar to Spotify, raised $50 million from Global Emerging Markets Group during the month.
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