Investing in AI in the crypto industry has reached new heights
October 21, 2024
In the third quarter of 2024, crypto venture investors invested $213 million in projects related to artificial intelligence. This is a 340% increase compared to last year's figures and 250% higher than in the previous reporting period.
Investment sectors
The main areas of investment include decentralized platforms, social networks, DeFi, DePIN, and other innovative technologies.
Total funding volume
Despite the overall decline in cryptocurrency venture funding, which amounted to $3.8 billion in the third quarter of 2024, the primary investments were directed toward AI and DePIN.
This indicates that venture capitalists are positioning themselves for long-term growth in these sectors, which could become the key drivers of the next phase of evolution in the crypto industry.
Investments beyond the digital market
In a broader technological context, investments in generative artificial intelligence outside the digital assets sector amounted to $3.9 billion across 206 deals.
This surge in investments coincided with the rise in Nvidia’s stock, which reached a new all-time high, driven by strong demand for chips for AI-focused startups.