The crypto industry has raised $30.3 billion in funding, more than all of 2021, despite an ongoing market downturn, according to a new report.
In an Aug. 2 report by crypto analytics firm Messari and Dove Metrics, data showed that in the first half of 2022, the), Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), and Infrastructure raised $30.3 billion through 1,199 funding rounds.
The total amount raised during this six-month period has surpassed the $30.2 billion raised through 1,313 rounds in all of 2021.
More than one-third of the total financing went into the CeFi space, which has raised $10.2 billion.The infrastructure and NFT space also received a lot of investment, however, DeFi seems to have been left behind, receiving only $1.8 billion in investment during this period.
Most of CeFi's investments were in cryptocurrency exchanges, which received $3.2 billion in investment.Payment services, market makers and savings/bank account businesses tied for second place.
The Web3 and NFT space raised $8.6 billion during the half-year period, with gaming-related NFTs accounting for the largest share of investments, with other funds raisedMore than four times the size of the NFT vertical.
Some of the current popular NFT-based crypto games include Axie Infinity, Aavegotchi, CryptoKitties, Galaxy Fight Club, and Gods Unchained.
According to PwC's latest hedge fund report for June, 38% of hedge funds are currently investing in digital assets, up from 21% in 2021%.
Cryptocurrencies are increasingly being used by hedge fund managers, says John Garvey, global head of financial services at PwCGain a competitive advantage:
"This is looking for alpha. Everyone is looking for an angle...so how do you go beyond the benchmark? You have to try something different, something new and unconventional.”