Breaking news
Crypto venture funding hits $860 million in October, highest in over 6 months Gino Matos · 19 seconds in the past · 1 min be taught
The gaming sector grew by the third consecutive month, adopted by the return of VC capital to Web3 general applications.
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Updated: Nov. 5, 2024 at 11:34 pm UTC
Cover art work/illustration via CryptoSlate. Image includes combined screech material that may well possibly include AI-generated screech material.
Venture capital (VC) funds invested $860 million in crypto startups closing month, a 30% soar from the volume registered in September and the highest since April’s $954 million earlier in the year, according to DefiLlama information.
Investments in the blockchain gaming sector surpassed $110 million, growing for the third consecutive month by showing a huge 75% soar between September and October.
The mobile gaming studio Azra Video games performed the excellent funding round in this sector, receiving $42.7 million from Pantera Capital, a16z Crypto, and NFX.
Breaking news Infrastructure dominance
Infrastructure solutions secured essentially the most prominent VC investments, with $609 million in venture money pouring into the sphere, up 33% from September.
Bitcoin-centered infrastructure provider Blockstream got $210 million from Fulgur Ventures, the excellent funding round in this sector by a distinguished margin.
Yellow Card, a startup building on and off-ramping solutions for African users, got the 2d excellent investment among infrastructure startups, with $33 million captured in a Series C round.
Glow Labs, a firm using blockchain to invent a community-powered platform to force photograph voltaic energy adoption, secured $30 million in the third excellent infrastructure-associated funding round.
Breaking news DeFi recovers
The DeFi sector saw a recovery in funding after experiencing a 55% decline in funding between August and September, securing $98 million in funding for the month.
Solv, a platform for Bitcoin staking, raised $11 million from Laser Digital, Blockchain Capital, and OKX Ventures in October’s most distinguished DeFi funding round.
Variational raised a identical quantity to invent its decentralized derivatives platform, with Bain Capital Crypto and Height XV Partners allocating $10.3 million in a seed round.
