enture Capital Funds invested $527 million for crypto startups during the month of July and It was 14% higher than last year’s investment. This ongoing investment in crypto startups, highlights the ongoing demand and interest in the space.
DeFi Sector Attracts Investment
Back in July, Decentralized Finance (DeFi) protocols saw $86 million dollars in funding by VC’s. For example, a Bitcoin restaking protocol, Lombard closed its seed and private sales at $16 million. ZAP, a token distribution protocol, received $15 million in funding. Moreover, The Monad ecosystem also saw significant gains with the help of its funded projects. All this is reassuring investors that attention is still on the crypto sector as a whole.
Gaming Projects Secure Funding
The Blockchain gaming sector has witnessed increased attention as well, with $20.5 million dollars funding in July. A Runescape-inspired game, Cambria was able to secure $2.5 million is a huge milestone for the project. Another evidential case includes NPC Labs that raised $18 million for the development of the blockchain ecosystem.
Year-to-Date Comparison
Comparing the funds secured from previous years, we can see an increase in investment which is a great sign. Crypto projects, from January to July 2024, secured approximately $5 Billion. On the other hand, during the same period in 2023, projects saw $4.22 billion dollars during the same period.
Crypto Startup Funding Surge Fuels Innovation
Crypto startup funding in July 2024 witnessed healthy activity and once again, blockchain infrastructure emerged as most active. More investment in different fields shows investors’ confidence in the crypto business. In this case, as the year progresses this will push the innovation in the crypto space to highs we have never seen before.
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