Volume of blockchain venture capital declined to a year’s low in August | The Financial Express

Volume of blockchain venture capital declined to a year’s low in August

According to Cointelegraph, August comprised of the investment categories of Web3.0, infrastructure and non-fungible tokens (NFTs), which resulted in over $1.16 billion or 85.4% of the total capital

Volume of blockchain venture capital declined to a year’s low in August
Reportedly, Orange DAO raised $80 million from the Algorand Foundation and Near, with the expectations that it will grow as an investment-oriented decentralised autonomous organisation backing cryptocurrency startups

Insights from a research revealed that in August, 2022, that the blockchain industry witnessed $1.36 billion of venture capital invested in it, which was a 12-month low and fourth consecutive month-on-month fall in capital inflows. August’s inflows show a 31.3% drop from July’s $1.98 billion, and the 101 deals closed in August had an average capital investment of $1.43 million, as reported by Cointelegraph.

According to Cointelegraph, August comprised of the investment categories of Web3.0, infrastructure and non-fungible tokens (NFTs), which resulted in over $1.16 billion or 85.4% of the total capital. Some of the deals of the month included Web3.0 game developer Limit raising $100 million from Chillz, owner of the blockchain-based fan rewards platform Socios. While Ready Player Me, a platform that allowed people to create metaverse avatars, clocked $56 million in a Series B funding led by Andreessen Horowitz, Inworld AI, a developer platform for creation of AI-based virtual characters, raised $50 million through a Series A round conducted by Section 32 and Intel Capital. 

On the basis of information by Cointelegraph, venture capital funds have also been collecting funds through rounds. Web3.0 and cryptocurrency-based venture capital firm CoinFund unveiled a new $300 million fund to back early-stage startups, with the bullish aim that Web3.0 is expected to develop through all market cycles. Orange DAO raised $80 million from the Algorand Foundation and Near, with the expectations that it will grow as an investment-oriented decentralised autonomous organisation backing cryptocurrency startups. Meanwhile, Shima Capital unveiled a $200 million debut capital fund to support developing digital asset companies. 

Moreover, Cointelegraph noted that monthly “Investor Insights” report from Cointelegraph Research stated the full analysis of blockchain venture capital (VC) segment in August. Furthermore, the research team emphasised on the breakdown of past month’s top market-moving events and data points across the various sectors of the industry, including venture capital.

(With insights from Cointelegraph)

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