Blockchain startups raise funding from a vibrant ecosystem
Wellfound, formerly AngelList Talent, recently released another tally of rapidly-scaling blockchain startups. Some names you may recognise, whilst others are just breaking into the space: Gemini, Injective Labs, Fold, RabbitHole, Futureswap, 0x, CoinAlpha. These startups are part of a growing ecosystem of entrepreneurial and intrapreneurial projects, each using blockchain technology to address a slightly different challenge.
A broader community helps founders launch these types of projects. Although the path to building a profitable venture seems pricey, founders rarely fund their ideas alone: they receive support from corporations, venture capitalists, blockchain protocols, and governments. Mastercard invites crypto and blockchain startups into its global accelerator programme. Cryptocurrency exchange Binance runs programmes to expand its blockchain ecosystem. Venture capital firms CoinFund, Orange DAO, and Shima Capital each invest millions of dollars in crypto and web3 startups.
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Venture capital funding for blockchain startups
One of the top ways blockchain entrepreneurs fund their projects is through venture capital (VC) funding. Although initial coin offerings (ICOs) once represented a primary funding source for blockchain projects, intense regulatory scrutiny of ICOs has shifted the balance of power. As shown in the chart below, venture capital plays a significant role in entrepreneurial and intrapreneurial blockchain projects, even during periods of depressed valuation.
Evaluating options besides venture capital
But venture capital isn’t the only source of blockchain startup funding. Since the blockchain space is highly decentralised and…
