August 16, 2022

A new report shows that despite the ongoing market stagnation, the crypto sector has already raised $30.3 billion in funds, surpassing a full year of fundraising in 2021.

In a report released on August 2 by crypto-analytics firm Messari and Dove Metrics, the data shows that $30.3 billion in central finance (CeFi), decentralized finance (DeFi), non-decryptable tokens (NFTs), and infrastructure was generated by 1,199 funding. Tours in the first half of 2022.

The total funds raised in the six-month period have already exceeded $30.2 billion raised in 1,313 rounds during the whole of 2021.

More than a third of all funds raised went to the CeFi segment, which saw $10.2 billion in funding. The infrastructure and NFT sector has also seen significant amounts of investment, however, it appears that DeFi investments have lagged behind with only $1.8 billion in funding in this period.

Most of the investment in CeFi was targeted at cryptocurrency exchanges, which raised $3.2 billion in total funding. Payment services, market makers, and savings/bank account companies ranked almost second.

The Web3 and NFT segment, which raised $8.6 billion in funds during the half-year, saw gaming-related NFTs capture the lion’s share of the investment, raising more than four times as much as any other vertical NFT.

Some of the crypto games based on NFT currently include Axie Infinity, Aavegotchi, CryptoKitties, Galaxy Fight Club, and Gods Unchained.

Related: NFT volume saw annual decline in June, but first-time buyers remain consistent

According to PWC’s latest hedge fund Report In June, 38% of hedge funds now invest in digital assets, up from 21% in 2021.

PricewaterhouseCoopers John Garvey, global financial services leader, said cryptocurrency is increasingly being used by hedge fund managers to gain an advantage over competitors:

“It’s the alpha quest. Everyone is always looking for a corner in… How are you going to beat the standards? You have to try something different, new and funky.”