Crypto Attracts More Money in 2021 Than All Previous Years Combined

Need more proof that this is the year digital assets went mainstream? How about the fact that venture capital funds have poured about $30 billion into crypto, or more than in all previous years combined for the little more than a decade-old technology.

That’s almost quadruple the previous high of around $8 billion in 2018, or the year following Bitcoin’s more than 1300% breakthrough gain, according to transaction data compiled by Pitch Book data Inc.

“We’ve moved beyond just digital gold. We’ve got financial services, art, gaming as a subcategory of NFTs, Web 3.0 decentralized social media, play-to-earn all of that made investors think “We don’t have enough exposure,” said Spender Bogart, general part at San Francisco-based Block chain Capital LLC, one the largest investors in the industry after financing more than 120 companies since its inception in 2013.

As other established firms such as Coin Base Ventures, Digital Currency Group and Poly chain Capital bet on the next big crypto thing, all manner of experimental projects- a social media app that turns celebrities into tokens, a play-to-earn non fungible token game inspired by Elon Musk or a collectible consisting of a list of words- secured funding. S-ET

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