According to ChainCatcher news, according to analysis by RootData, a Web3 asset data platform, Web3 primary market financing activities showed a downward trend in the third quarter of 2024. A total of 321 rounds of financing occurred in this quarter, a decrease of 25.7% from the previous quarter, and the total financing amount reached US$2.406 billion, a decrease of 15.0% from the previous quarter. The infrastructure track continued to lead the way, with total financing reaching US$745 million, accounting for 30.9%. It is worth noting that the total financing in the "other" track (other sectors excluding infrastructure, DeFi, NFT, games, CeFi, DAO, social, and tools) reached US$453 million, accounting for 18.8% of the total financing. There are multiple driving factors behind this phenomenon. The Meme sector continues to be hot this quarter, the integration of AI and Web3 projects has increased significantly, and the DePin and Bitcoin ecosystems have continued to expand. Investors and markets are looking for more new narratives and innovations.
In terms of financing scale, the number of large-scale investment (more than US$10 million) projects was 43, a decrease of 35.8% from the previous month. The number of medium-scale (US$5-10 million) financing projects decreased by 30.4% from the previous month, while the number of early-stage investment (less than US$5 million) projects decreased by 14.4% from the previous month. The largest single financing this quarter came from Bitcoin mining company Iris Energy, with a financing amount of US$413 million. It is worth noting that among the top ten financing projects, the total amount of M&A transactions reached US$681 million, accounting for as high as 57.5%.
In terms of investment institutions, Robot Ventures became the most active investment institution this quarter with 22 investments. Among the 12 institutions with more than 10 investments, infrastructure is still the most popular track, and DeFi-related projects received 56 investments. Binance Labs and OKX Ventures, both invested 16 times in the third quarter, and participated in GamFi-related projects 5 and 6 times respectively, which is more active than other investment institutions in this track. In addition, DAO, NFT and Tools & Information projects remain cold.
