The number of Web3 venture capitalist deals also rose 36% in the first quarter of the year, indicating wider interest in Web3 protocols.
The total investment in Web3 firms increased by 55% in the first quarter of 2024, signaling the return of venture capital (VC) interest in crypto.
In addition to an increase of over 55% in total investment, the number of Web3 VC investment deals rose 36% in the first quarter of 2024 compared to the previous quarter, according to a Q1 on-chain report by QuickNode and Artemis.
Artificial intelligence (AI) and gaming-related Web3 protocols took the lion’s share of the investment. According to the report: