Crypto startups saw a 30% VC funding increase in October, driven by infrastructure and gaming investments.
Blockchain gaming funding surged 75%, with Azra Games securing $42.7M from top venture capital firms.
DeFi sector funding rebounded to $98M in October, signaling renewed investor interest in decentralized finance.
October saw VC funding for crypto startups stand at $860 million, which is 30% higher than that of the previous month. This jump represents the most substantial monthly total since April, when investments peaked at $954 million, according to DefiLlama.
This resurgence reflects growing interest across several blockchain sectors, including blockchain gaming, infrastructure, and decentralized finance (DeFi).
https://twitter.com/freedom198735/status/1853959447430758560 Blockchain Gaming Investments Rise
The blockchain gaming industry also recorded increased funding with over $110 million invested in the sector. Compared to September, this is a 75 % rise, which makes October the third consecutive month that has recorded higher investment.
Azra Games, a mobile gaming studio, attracted the largest share, securing $42.7 million from prominent VC firms like Pantera Capital, a16z Crypto, and NFX. This funding underscores the rising confidence in blockchain-based gaming ventures.
Infrastructure Solutions Dominate VC Funding
Infrastructure solutions took the lead, capturing $609 million in venture capital, up by 33% from September. The sector’s largest investment went to Blockstream, a Bitcoin-focused infrastructure provider, which raised $210 million from Fulgur Ventures.
Yellow Card, another infrastructure startup focused on simplifying crypto access for African users, followed with a $33 million Series C round. Glow Labs, a company leveraging blockchain to support solar energy adoption through community platforms, secured $30 million, marking it as the third largest infrastructure-related funding round.
DeFi Funding Shows Signs of Recovery
After facing a 55% funding decline from August to September, the DeFi sector rebounded with $98 million in October. Solv, a platform offering Bitcoin staking services, led the way, raising $11 million from investors like Laser Digital, Blockchain Capital, and OKX Ventures.
Another notable player, Variational, raised $10.3 million in seed funding, backed by Bain Capital Crypto and Peak XV Partners, to develop its decentralized derivatives platform.
This robust wave of investments across gaming, infrastructure, and DeFi highlights a renewed confidence in crypto ventures. Venture capitalists are increasingly placing bets on diverse blockchain innovations, suggesting a strong belief in the sector's potential for growth.
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