Crypto Attracted More Money in 2021 As Compared To Previous Combined Years

Cryptos-make-Money-in-2021

According to Bloomberg News, there is enough proof that digital assets have occupied center stage the current year. But how about fact funds from venture capital have injected around $30 billion in the crypto market or perhaps much more than the amount injected by the same in previous years or a decade? 

The figure comes at almost four times compared to what it was way back in 2018 when it was $8 billion, or the following year, when Bitcoin gained a breakthrough figure of 1300% more, as per compiled data from PitchBook Data Inc. related to the transaction data. 

Many other firms like Digital Currency Group, Coinbase Ventures, and Polychain Capital have their hopes pinned on crypto, which is the next big thing, and every experimental project related to the same. However, a social media app inspired by Elon Musk secured funding. 

According to the analyst of PitchBook, Rob Le, investors are eagerly funding “anything and everything.” The crypto industry has received $30 billion from Venture capital companies. 

There were niche sectors that emerged suddenly like NFTs, only to make investors realize what they might be missing on, as per Bogart, how OpenSea, an online non-fungible marketplace for tokens is now being compared to an e-commerce site Etsy. 

Here is a tabulated form of the Crypto VC Shops in the United States

Bloomberg 2 Table
PitchBook.The period for deals counted was from December 2016 to December 15th, 2021. 

According to Bloomberg News, $30 billion tallies comprise fundraising rounds carried out by and Revolut Ltd, and Robinhood Markets Inc, financial companies related to crypto that are financial revenue-generating. 

But looking at transactions of venture capital in the United States, it is seen that it is outsizing this year’s investment of $7.2 billion deals, which is quadruple of the record set in the year 2018, as per PitchBook data. 

Fast facts

  1. FTX, the exchange of crypto derivatives, closed series B funding of $1 billion in July, thereby pushing the valuation to around $18 billion. 
  2. New York Digital Investment Group raised $1 billion in the middle of December, raising in valuation more than $7 billion.
  3. Dapper Labs, which is an NFT platform, raised around $350 million in the month of March from the investors.
  4. Forte, a blockchain integration tools provider, closed at $725 million in fundraising in November. 
  5. Axie Infinity, developed by Sky Mavis, raised $150 million at the valuation of $3 billion in the month of October for an online crypto-based game. 
  6. MoonPay, a provider for crypto payment infrastructure, closed at $555 million in November in its fundraising efforts, thereby taking the valuation to $3.4 billion.