Crypto Venture Capital Market is Tepid

Some sectors of the crypto ecosystem saw more interest than others. Crypto exchanges, lending, investing and trading platforms raised 18% of VC capital, over $460 million. Layer 1 projects came in next, at roughly $440 million, then Web3/Metaverse projects, at about $360 million, then infrastructure projects at $340 million. Meanwhile, projects combining crypto and artificial intelligence (AI) took in about $270 million – five times more than in the previous quarter, Galaxy said.