TAO - EXCLUSIVE: The Top Crypto VC Funding Trends In 2024 | Benzinga
The crypto venture capital landscape is showing signs of a significant shift, with a clear focus emerging on specific sectors attracting the most funding.
Benzinga talked to crypto venture capitalists and uncovered a newfound focus highlighting the industry’s changed priorities.
Crypto VC Funding Is Bouncing Back
Gone are the days of memecoin mania and generalized NFT hype.
Investors are now prioritizing projects with real-world utility and long-term potential.
Tom Schmidt, general partner at VC firm Dragonfly describes the early 2024 venture capital scene as the precursor to an imminent takeoff, noting a gradual yet promising increase in private valuations.
This cautious optimism is echoed by the gradual re-engagement of traditional VCs and crossover funds in the crypto space.
Schmidt anticipates a more vibrant and institutionally attractive crypto market landscape. As larger players re-enter the fray venture capital interest is surging and focusing on new sectors.
Anand Iyer, managing partner at Canonical Crypto, frames this resurgence in terms of a cultural evolution from meme-driven investments to a focus on utility and technological innovation, particularly in the AI-meets-crypto sector.
“Casino culture is graduating to computer culture. Meme coins are like the NFTs of this vintage, but given all the advancements in scalability and interoperability, we are starting to see true utility and manifestation of blockchain technology, starting with AI-related crypto,” he says.
This shift signifies a deeper maturation within the industry, ...