Project funding for sure. It is nearly impossible to beat last week’s massive numbers but $2.6B is nothing to shake a stick at.
Blowout week in funds moving into Digital Assets and Blockchain Tech; $4.4B (yes that is a B for Billion.) All tiers are up since last week. This continuous flow of money into this industry is being put to work to help build the “Internet of Value.”
The dolla dolla bills keep rollin’ in y’all! Over $1B once again flows into decentralized finance, NFTs, and a variety of other projects in the Blockchain industry. The big haul this week is from NFX which is a venture firm exclusively focused on pre-seed & seed-stage startups. However, the theme this week is exchanges and funds.
It would have been hard to beat last week’s Blowout Billions if it had not been for the $1B that flowed into Digital Asset and Blockchain Technology projects this week. NFT, Metaverse, DeFi, and Gaming by far were the winners as those sectors continue to gain attention from investors.
I’ve never seen a week like this since I’ve been curating the weekly update. But it’s abundantly apparent that there are quite a few folks excited about crypto. Now, this is a bit overblown by the $4.5B in allocations from Hedera. However, when taking that completely out of the equation, this week blows out all others with $2.5B in funds moving toward Digital Asset and Blockchain Technology projects. Gaming took the lion’s share this week.
From companies raising money to funds, nearly $2B is going to work on Blockchain Technology and Digital Assets. However, not all the funds have been put to work. As you can see below, we have a lot of funding being set up. So they are in the process of raising the funds indicated. That said, over $1B is fully committed. This is CrAzY!
Ok, let’s call it $1B because what’s $17MM in the grand scheme of things. It’s very interesting that while a majority of the funds weren’t directed toward this particular area, the number of deals done on smart contract platforms are notable: There have been three different projects on Solana and one on Polkadot. However, the lion’s share of the funds this week went into funds that will allocate that money across a variety of ventures and assets.
Half a billion dollars is heading toward DeFi, NFTs, and scores of other projects. So it’s time to party folks. And a16Z is hosting, as it is once again launching a $400MM fund to expand into new technology. The theme this week seems to be DeFi, where at each tier decentralized finance projects are getting funding.
Well, not quite the $1B mark this week but we did cross half a billion. While Mining and DeFi were the big winners, NFTs continued to attract investor attention, with a third of the projects being funded this week headed that direction. Apparently, they’re the new status symbol for investors.
We’ve crossed the $1B mark once again this week as Chime rings the register with a monster $750MM raise, scoring a $25B valuation. Chime is a financial technology company, not a bank, that is changing the way people think about banking. Bitpanda was right behind them pulling in $263MM, helping people invest in what they believe in — stocks, Crypto, and metals. Check out the rest!