Web3-related firms attracted more than $55 billion of funding in 2021 and the first five months of 2022
Financial market infrastructure providers have attracted more than half of web3 funding, with gaming and other user applications the next-largest tranche
Companies involved in products and services related to web3 have attracted a surge in funding over the past two years, as Figure 1 shows. This next iteration of the web incorporates tools such as blockchains, smart contracts, and tokens. Most of the capital raised has gone to venture and growth investments, but later-stage funding has also soared. Investors spread their capital over a wide swath of subsectors and applications, shown in Figure 2. Financial market infrastructure firms compose the largest group funded, while gaming companies also attracted an outsized share of funds.