Traditional VCs go nuts for crypto. I’ve analyzed 7,400 crypto projects by VC funding

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For several months I’ve been analyzing crypto projects from the data perspective (especially social and technology-related data), and this week I’ve managed to gather enough venture capital funding data to share with you.

We’ve analyzed the investments raised by more than 7,400 crypto startups from traditional VCs, and below are some interesting facts about the crypto market based on this data. The first in line here will be the top crypto projects by total funding amount:

https://preview.redd.it/4i6hxa58y8391.png?width=1318&format=png&auto=webp&s=a056ee67fa5cf6d76342d88ac71e62a36edc2b28

Below you can see the crypto projects that received funding most recently:

https://preview.redd.it/me0kymday8391.png?width=1344&format=png&auto=webp&s=4a701c585cf475d46175ed3617b6bd2105016a10

Let’s dive deeper into the projects from this dashboard.

1. Arianee (ARIA20) — launched in 2018, Arianee provides end-to-end web3 solutions for brands. They help brands tokenize all forms of valuable assets, distribute NFTs, and leverage the power of decentralization. The Arianee protocol is built both on Ethereum Mainnet, and a side-chain of Ethereum called POAnetwork.

On May 10th, ARIA20 raised a $21.4MM Series A round led by Tiger Global to bring luxury NFTs to the Metaverse. But in addition to Tiger Global, existing investors Bpifrance, ISAI, Noia Capital, and Cygni Labs were also participating in this round. Commerce Ventures and Motier Ventures are also investing in Arianee as first-time investors. We can see that Twitter users have started to mention and discuss ARIA20 on Twitter after this announcement actively:

https://preview.redd.it/nqhkc0ncy8391.png?width=1312&format=png&auto=webp&s=7ea05df0dbe769f795651ceb692a620193245ab8

We’re excited to see how the Arianee develops in the nearest future, but it definitely has a solid base for investing in.

2. Cometh (MUST) — launched in January 2021, Cometh is a groundbreaking strategy game where players can win valuable tokens and that leverages the Decentralized Finance ecosystem to create a persistent and sustainable outer space. All the core features of the Ethereum blockchain play a role in Cometh, which also leverages an Optimistic Rollup layer 2 scaling solution.

Cometh raised $10MM on May 5th to boost blockchain adoption in video games. The round was led by venture capital fund White Star Capital and Stake Capital DAO, other investors, followed by top tier participating VCs: Serena, FDJ v13 Invest, Shima Capital, IDEO CoLab Ventures, and Sparkle Ventures.

MUST also has a powerful social presence and significant community — 29K followers on Twitter, 9K members on Discord, and more than 2.5K members on Telegram:

https://preview.redd.it/mid0mlvgy8391.png?width=1400&format=png&auto=webp&s=1ad6e43ebd5556d902d770960a339c71f2a411be

3. 0x Labs (ZRX) — is an infrastructure protocol that allows users to easily trade ERC20 tokens and other assets on the Ethereum blockchain without relying on centralized intermediaries like traditional cryptocurrency exchanges. 0x currently supports 7 major blockchains: Ethereum, Polygon, Fantom, Avalanche, Optimism, BNB Chain, and Celo, and the 0x ecosystem has been rapidly expanding (integrations with MetaMask, Coinbase Wallet and NFT, Polygon Wallet, and much more).

On April 26th, 0x closed a $70MM Series B round led by Greylock Partners. The round also included investors such as CoinBase (+ NFT partnership), Jump Capital, OpenSea, and Jared Leto.

Seems like 0x Labs continues expanding Web3’s core exchange infrastructure, and most likely, soon we’ll see its team and product expanding as well. As for now, the development activity data (number of GitHub contributors and commits) doesn’t look promising:

https://preview.redd.it/99vjip0jy8391.png?width=1400&format=png&auto=webp&s=aaa502c9d399ef8356e6662bc789a37bf5f7dc1b

Let’s keep a closer eye on it and see how they’re will be developing with Ms they raised. It is also worth mentioning that the ZRX has a higher than average social presence — 263K on Twitter, more than 20K on its Subreddit, and 2K members on Telegram.

4. Near Protocol (NEAR) — is a layer-one blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput, and poor interoperability.

It raised funds almost 2 months ago (April 6th), but $350MM — big players are here. Let’s drop a few lines about it too. As you saw from the very first dashboard in this publication, NEAR is the 2nd of the top-funded crypto projects globally. The latest round was led by Tiger Global, with participation from Republic Capital, Hashed, FTX Ventures, Dragonfly Capital, and others.

What’s interesting is that Redditors have started to discuss NEAR more positively after raising the round in early April. Such a sentiment can be spotted very rarely on Reddit, very bullish!

https://preview.redd.it/rwb9mq2my8391.png?width=1350&format=png&auto=webp&s=147edc7da1ec73eccc608a0bb832b4ab835ca4a9

And yes, Tiger Global appeared as a leading fund 2 times just in this publication. Excited to see which other VCs are investing large amounts in crypto projects? We’ve got you covered with this data as well (and obviously a16z is taking the 1st place):

https://preview.redd.it/ct912f5oy8391.png?width=1400&format=png&auto=webp&s=89cd3ee6896a19369dedb7feceab3bb9dd07fe6c

Hope you enjoyed today’s analysis! Will be glad to hear feedback.

P.S. If you represent a business and are interested in getting access to these and many other dashboards (social media sentiment, development activity, etc) or API, just DM me

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