Virtual currency sucks up money in 1 year more than in all previous years combined

Virtual currency sucks up money in 1 year more than in all previous years combined

With a multitude of digital assets and related projects exploding in the community and prices of this kind skyrocketing, all pilots are guaranteed to attract capital flows.

And there’s growing evidence that this is the year digital assets go mainstream. In fact, about 30 flowed. Venture capital fund Billion USD in cryptocurrencies or more in all previous years together.

That number has almost quadrupled from the previous high of around 8 Virtual currency . Billion USD in 2018 – the year Bitcoin broke more than 1,300%, according to data from PitchBook Data Inc.

Spencer Bogart, partner of Blockchain Capital LLC based in San Francisco, one of the largest investors in the industry, said, “Digital assets are not just digital gold. They have now invaded services like finance, artwork, video games in the NFT platform, Web 3.0, decentralized social media, and monetized games. “

While other established companies such as Coinbase Ventures, Digital Currency Group and Polychain Capital are betting on the next big cryptocurrency, many other investment funds are looking for new experimental projects in this area such as the app or NFT game, inspired by Elon Musk.

“Investors buy into everything,” said PitchBook analyst Rob Le.

According to Bogart, the sudden emergence of an NFT once considered a niche market has shown investors what they may have been missing out on. The expert noted how the online NFT marketplace OpenSea is currently compared to the ecommerce site Etsy.

Number 30 Billion USD The above includes capital raised through rounds of funding from Robinhood Markets and Revolut. These are financial technology companies that generate income from the digital currency alone. In the US alone, venture capital transactions were 7.2. made Billion USDwhich, according to PitchBook data, is four times the previous record in 2018.

FTX cryptocurrency derivatives exchange has completed a Series B financing round of 1 Billion USD in July and raised the stock exchange’s rating to 18 Billion USD. New York Hay Custodian Digital Investment Group at 1. elevated Billion USD Mid December and has a rating of over 7 Billion USD. Forte, a provider of blockchain integration tools for game publishers, closes a 725 round of funding Million dollars in November, Dapper Labs, an NFT platform behind CryptoKitties, raised 350 Million dollars in March by investors, including basketball legend Michael Jordan, and increased the total to 2.5 Billion USD.

MoonPay, provider of payment infrastructure for digital currencies, has 555. raised Million dollars At the end of November, the rating was raised to 3.4 Billion USD. Sky Mavis, developer of Axie Infinity, has more than 150. collected Million dollars with a 3 rating Billion USD in October for crypto-based online gaming.