In the third quarter of 2024, crypto venture investors allocated $213 million to AI-related projects, according to a report by Messari.
This marks a 340% increase from the previous year and a 250% rise from the prior reporting period.
Investments are directed towards various sectors such as decentralized platforms, social networks, DeFi, DePIN, and others.
“Although the total venture funding in the third quarter of 2024, amounting to $3.8 billion, slightly decreased compared to previous quarters, the strong focus on AI and DePIN indicates that venture capitalists are positioning themselves for long-term growth in sectors they believe will define the next phase of the crypto industry,” experts noted.
Beyond the digital asset sector, total investments in generative AI reached $3.9 billion across 206 deals, according to PitchBook, as reported by TechCrunch. However, this does not include OpenAI’s deal, which in early October raised $6.6 billion at a valuation of $157 billion.
Growing Interest in AI
In October, discussions on AI-related topics increased by 50%.
This positive trend coincided with Nvidia’s stock reaching a new all-time high. The company is a key beneficiary of the AI boom due to its chip sales to technology-focused startups.
Back in August, Binance Labs’ investment director Max Konilio explained the reasons for the company’s dive into the artificial intelligence sector.