Crypto is one of the most fast-growing industries, and it has a decent shot in shaping our future. It’s no wonder that investments are flooding in.
Last year VCs have poured an impressive $30Bn in crypto companies, and this year might be no different.
So far among the biggest fundraisers of 2022 we can name crypto derivatives exchange FTX and FTX US ($800M), NFT marketplace OpenSea ($300M), Near blockchain ($150M), Ethereum scaling solution Polygon ($450M), blockchain infrastructure firm Alchemy ($200M) and privacy-focused blockchain Aleo ($200M) – the last three announced just this week.
On the VC side, money is still being raised massively.
Andreessen Horowitz (a16z), which has already launched 3 crypto funds amounting to around $3Bn, is now seeking for $4.5Bn more for another crypto venture fund.
Seven Seven Six, Reddit Co-founder Alexis Ohanian’s venture capital firm that plans to invest primarily in crypto firms, has recently closed a $500 million venture fund.
Crypto-native companies are not staying on the sidelines and also jump into the VC business enthusiastically.
FTX launched a $2bn venture capital arm to invest in crypto firms, while another exchange Crypto. com extended its own venture fund size from $200M to $500 million. Even OpenSea has announced the launch of its investment arm.
It’s true that we are still very early, and so many things are yet to be improved in crypto to ensure its mass adoption. The colossal amounts of money that continues pouring into the crypto space is not only showing a long-term bullish stance on the tech, but most importantly ensures its development.