Crypto VC funding rose 15% from July, with growing investor interest in blockchain infrastructure development.
Crypto venture capitalist (VC) funding had a resurgence in August despite the summer illiquidity in the wider crypto markets. Crypto VC funding rose to $633 million in August, up over 15% from $550 million in July, according to DefiLlama data.
Most of the VC interest was captured by blockchain infrastructure development firms, according to Luca Prosperi, the CEO and co-founder of on and offchain payments protocol M^0 Labs. Prosperi expects continued VC interest in blockchain infrastructure. He told Cointelegraph:
“Given the early stage of development, we anticipate continued investment at various levels: the infrastructure level, the middleware level (which connects the infrastructure seamlessly with the distributed application layer), and the application layer itself, where everything can be reimagined as it was during the late 1990s and early 2000s.”
VC capital is crucial for funding the continued development of blockchain technology. The surge of blockchain investment in August signals that VC interest is returning to crypto from the artificial intelligence industry. Showcasing the growing interest, VC firm Lemniscap secured an investment for a new startups in early-stage development on Aug. 28.
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