The total volume of venture funding to cryptocurrency companies exceeded $ 8.2 billion in the third quarter of this year. During this period, more than 300 financing transactions were carried out.
According to a Dove Metrics report, about half of the $ 8.2 billion raised was in centralized finance (CeFi) companies, 17% in NFT startups, and just 4% in decentralized finance (DeFi) projects.
The FTX exchange became the leader in fundraising in the third quarter of 2021, which raised $ 900 million. Investors invested another $ 800 million in the startup Revolut. Fireblocks raised $ 443 million in two rounds of funding. NFT trading platform Sorare raised $ 680 million, while Dapper Labs and OpenSea raised $ 250 million and $ 100 million, respectively.
The data speaks to the rapid maturation of the centralized finance industry and the growing demand for NFT trading platforms. Interestingly, gaming projects using NFT, including Sorare, raised more than $ 1 billion, while the markets for trading collectible tokens received only $ 250 million.
FTX recently closed another round of funding, during which it raised $ 420 million. After the completion of the round, the firm’s capitalization is estimated at $ 25 billion.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
