According to online crypto projects database Rootdata, crypto funding in September 2023 has seen a significant surge compared to that in August 2023. In August 2023, there were 78 funding rounds, which is comparatively few percent greater than September 2023 (so far). $549.86 Million was generated in August.
In September 2023, the crypto infrastructure category attracted the largest share of the funds, followed by decentralized finance (DeFi), non-fungible tokens, games and centralized finance.
Over the past few months, funding for centralized finance fell sharply. In the ongoing month, approximately 15 infrastructure projects raised funds and around 19 decentralized finance projects gathered funding.
Infrastructure and DeFi categories are evolving fast. Various data sources and on-chain analysts claim that the Defi market is projected to reach $16,960.00 Million by the end of 2023.
Thousands of crypto projects register their presence in the market every month, but ultimately by the end of every year majority of them shuts their operations by the end of the financial year.
Top 10 Funding Rounds in September 2023
Recently a crypto miner which filed bankruptcy on December 21, 2023, has raised $53.9 Million to refuel its sinking business.
Rootdata(dot)com highlights that Bitmain, Blackrock and B Riley are Core Scientific’s major backers. Core Scientific is one of North America’s largest miners also provides blockchain data centres and digital assets.
Some other projects that raised funding in September 2023 include Proof of Play, Zeebu, Mesh, Mocaverse, Brine Finance, Flipto, Pahdo Labs and Bastion, among others.
Andreessen Horowitz cracked most of the deals in September 2023 by investing in more than 4 projects. Base Ecosystem has invested in approximately five projects in different categories.
Shima Capital is a major investor in the rapidly growing crypto gaming industry; the venture capitalist firm has invested in 62 budding gaming companies.
Shima Capital has funded more than 40 decentralized finance projects.
As per the funding portfolio of Coinbase Ventures, it has invested in104 infrastructure category projects, followed by 87 DeFi, 41 centralized finance, 27 NFT projects and 12 gaming projects.
Summary
Data on online cryptocurrency projects database Rootdata shows that crypto funding will cross the $700 Million mark by the end of September, which is higher than funding generated in August. The likely reason behind the surge is the rise in crypto adoption. Crypto infrastructure has the lion’s share of investments, followed by the crypto gaming sector (so far into September).
