Gate Research: Web3 Industry Funding Report for November 2024

This report summarizes the key Web3 industry funding activities for November 2024. In November, the Web3 industry completed a total of 121 funding rounds, with total funding reaching $1.76 billion, representing a monthly decrease of 28.45%. The funding methods became more diverse, with MARA successfully raising funds through convertible bonds and OG Labs utilizing an innovative seed round combined with token purchase commitments. Blockchain services and public chain sectors emerged as key funding hotspots. The report also highlights major funding projects such as 0G Labs, StakeStone, KGeN, Noble, and Deblock.

Key Takeaways:

Funding Overview: In November 2024, the Web3 industry completed 121 funding rounds, with a total amount of $1.76 billion. Despite a monthly decline of 28.45% in total funding, it ranked as the second-highest monthly funding amount for the year, following the October peak driven by Stripe's acquisition of Bridge. This performance indicates that funding activities remain robust despite changes in the market environment.

Key Funding Methods and Innovations: November's funding methods demonstrated significant diversification and innovation. MARA raised $1 billion through the issuance of convertible bonds, making it the most notable case of the month. Additionally, OG Labs employed a "seed round + token purchase commitment" hybrid model, showcasing the flexibility and innovation of emerging projects in securing capital.

Hot Sectors and Funding Distribution: The blockchain services sector led the industry with $1.11 billion in funding, reaffirming its central role in the Web3 ecosystem. Meanwhile, the public chain sector attracted $356 million, reflecting ongoing market interest in infrastructure development. In terms of funding distribution, rounds between $3 million and $10 million were the most active, accounting for 37.68%, followed by rounds between $1 million and $3 million, representing 24.64%. This highlights the importance of small and medium-sized projects in the funding market.

Active Rounds and Investors: Seed and pre-seed stages were the most frequent funding rounds, indicating continued focus on early-stage projects and support for innovation and incubation. Among institutional investors, Animoca Brands maintained a high investment frequency, further solidifying its influence and presence in the Web3 space.

Leading Projects' Rapid Growth: Projects such as MARA, OG Labs, StakeStone, KGeN, Noble, and Deblock showcased outstanding performance in November, reflecting strong development momentum. Their success not only validates market recognition of innovative projects but also injects fresh energy and confidence into the entire Web3 industry.

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Gate Team
December 11th, 2024