What Are Crypto VCs Investing in? Binance Research
The gaming category sees 87 deals secure the top spot even as investments remain "conservative."...
- The gaming category has secured the highest amount of funding with 87 deals, indicating potential in the industry.
- Traditional VC share has surged to 45% since the beginning of the year, narrowing the gap with Web3 investors.
- Funding levels have stabilized after a decline in the aftermath of the FTX contagion.
- The number of deal funds increased in January and February 2023, driven by growth in the Infrastructure and Gaming sectors.
- Prominent VC firms like Pantera Capital, Dragonfly, Coinbase Ventures, a16z, and Polychain Capital frequently engage in co-investments.
- Polychain Capital and Coinbase Ventures have the highest number of joint investments, possibly due to their previous connection.
- Coinbase Ventures consistently leads deal counts, allocating a significant portion to DeFi and infrastructure.
- DWF Labs entered the investment activities in October 2022.
- Coinbase Ventures diversifies its portfolio with smaller investments, while a16z prefers larger lead investments in a selective number of projects.
The article provides a positive outlook on the gaming industry and its sustained growth in funding. It also highlights the stabilization of funding levels and the involvement of prominent VC firms in co-investments.