Venture Capitalists Catch Crypto Fever, Stampeding Towards WEB 3.0
NDTV
Scared of being left in the digital dust, private equity investors are stampeding towards crypto projects.
Scared of being left in the digital dust, private equity investors are stampeding towards crypto projects - blockchain-based apps and platforms fuelled by cryptocurrencies that are native to the virtual economies of the metaverse and Web3.
VC investment in such projects totalled $10 billion globally in the first quarter of this year, the largest quarterly sum ever and more than double the level seen in the same period a year ago, according to data from Pitchbook.
A trickle has become a torrent: the full-year totals for 2019, 2020 and 2021 were $3.7 billion, $5.5 billion and $28 billion.
"You're seeing a lot of VC investment into a lot of protocols because they all believe, as we do, that some of these protocols are the infrastructure of the future," said Steve Ehrlich, CEO of crypto brokerage firm Voyager Digital.
