Crypto venture funding hits $860M in October peak
Crypto venture funding reached $860 million in October, a notable 30% increase from September and the highest monthly total since April’s $954 million, according to DefiLlama data.
This upswing highlights a renewed interest in blockchain applications, especially within gaming, infrastructure, and DeFi sectors, signaling a potential turning point for Web3 funding.
The blockchain gaming sector, in particular, saw significant growth for the third consecutive month, with investments surpassing $110 million in October—a 75% jump from September.
One of the most substantial contributions came from mobile gaming studio Azra Games, which raised $42.7 million in funding from notable investors such as Pantera Capital, a16z Crypto, and NFX.
This continued investment in gaming underscores the sector’s promise, as blockchain-based games evolve with increased user interest and the potential for mainstream adoption.
The infrastructure sector received the bulk of the venture capital, with $609 million channeled into projects focused on enhancing blockchain’s technical capabilities.
This represents a 33% rise from September, driven largely by investments in Bitcoin (CRYPTO:BTC) infrastructure.
Blockstream, a leading Bitcoin infrastructure provider, secured $210 million from Fulgur Ventures, marking the largest funding round within the infrastructure space.
Other noteworthy investments include Yellow Card, which raised $33 million in a Series C round to expand its on-and-off-ramping services for African users, and Glow Labs, which received $30 million to further its work in promoting solar energy adoption through blockchain technology.
The DeFi sector, which had experienced a 55% decline in funding between August and September, showed signs of recovery in October, securing $98 million in new investments.
Within DeFi, Bitcoin staking platform Solv raised $11 million from investors, including Laser Digital, Blockchain Capital, and OKX Ventures, marking October’s largest DeFi funding round.
Additionally, Variational, a platform focusing on decentralised derivatives, raised $10.3 million in a seed round led by Bain Capital Crypto and Peak XV Partners.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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