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Quarterly Crypto Fundraising Review: Q3 2024
Key Insights
- Overall deal announcement activity has ticked down QoQ in Q3, but the total dollar value raised is in-line with the past three quarters at almost $4 billion.
- DeFi and A.I. remain the primary focus for venture funds as NFT, gaming, and metaverse projects lose some steam versus prior quarters.
- A.I. and DePIN sectors have both grown tremendously in terms of dollar value raised versus a year ago. Meanwhile, the DeSci sector saw large increases in number of rounds versus last quarter.
- While the US still dominates the crypto venture scene, investor entities in the APAC region are growing in influence and participation across rounds. Eastern entities tend to invest more in games, game studios, and metaverse-adjacent projects.
- VC theses this quarter focused on how blockchains can democratize access to A.I. models, how DePIN can incentivize useful infrastructure building, and even how financial nihilism impacts consumer apps.
Quarterly Overview
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Prior to joining Messari, Andrew was an equity trader at a proprietary trading firm. His primary interests are understanding market dynamics, riding trends, and finding the occasional onchain winner.
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