In September, crypto startups secured $691 million in venture capital (VC) funding, a 3% increase from August, according to DefiLlama data. Blockchain gaming sector received $63 million in particular, marking its second consecutive month of growth with a 32% rise.
Balance Games, a blockchain gaming project that integrates AI, received $30 million from Animoca, a16z, and Aptos Labs.
Blockchain infrastructure projects dominated the funding, capturing $457 million, which accounted for 71.5% of total crypto investments. Celestia led the race to raise $100 million in a strategic round led by Bain Capital Crypto. Huma Finance also secured $38 million to develop its blockchain-based payment network.
On the other hand, investments in DeFi projects declined significantly, falling 55% from August to just $58 million. Drift raised the largest share with $25 million in a Series B round, while Puffpaw, a “vape-to-earn” app, also garnered notable funding.
Meanwhile, Web3 startups attracted $59 million to build blockchain-based versions of traditional services. Notably, Tune.fm, a decentralised music streaming platform, raised $50 million from Global Emerging Markets Group.
