加密貨幣的資金有望完成高度活躍的Q1，最高為73億美元的資金回合

這次，主要資產仍然柔和，但風險投資的交易仍在繼續。根據彌賽亞的說法，過去一個季度結束了550筆交易。

Cryptocurrency funding is on track to finish a highly active Q1, with up to $7.3 billion in funding rounds already closed by the past quarter, according to Messari. About 550 deals were also finalized in the past three months.

據Messari稱，加密貨幣的資金有望完成高度活躍的Q1，在過去季度之前已經關閉了高達73億美元的資金回合。在過去的三個月中，大約還有550筆交易。

Crypto funding accelerated in March, expanding funding to $7.3B for Q1, 2025. Usually, crypto funding follows the expansion stages of a bull market. This time, major assets remained largely subdued, yet VC deals continued at a fast pace.

加密貨幣資金於3月加速，將資金擴大到2025年第1季度的$ 7.3B。通常，加密貨幣資金是在牛市的擴張階段之後的。這次，主要資產仍然在很大程度上被屈服了，但風險投資的交易仍在快速發展。

According to Messari’s data, crypto funding closed $154M in funding for just the past week, while the entire quarter was on track to surpass the previous slow months.

根據Messari的數據，Crypto資金僅在過去一周的資金上收盤1.54億美元，而整個季度則有望超過前幾個月。

Despite the shift in focus on meme tokens, new projects and platforms are still building under all market conditions. Investment activity switched to ‘high’ after showing a ‘low’ indicator in January and February. Activity is up by 13% in the past month, based on Cryptorank data.

儘管關注模因令牌的關注轉移，但在所有市場條件下仍在建立新的項目和平台。投資活動在1月和2月顯示“低”指標後轉為“高”。基於Cryptorank數據，過去一個月的活動增長了13％。

The top 12 funds have diverse investment portfolios, but all have a focus on AI funding. The projects include both AI agent platforms and AI infrastructure. In total, AI takes up 14% to 22% of the Tier 1 top VC funds.

前12名資金具有多種投資組合，但所有人都專注於AI資金。這些項目包括AI代理平台和AI基礎架構。 AI總共佔14％至第1級頂級風險投資基金的22％。

The expansion of AI affected crypto funding as well. Over 30% of deals flowed into AI projects, becoming the biggest investment sector. Over 22% of deals flowed into developer tools. A new trend emerged for payment services, taking up 18% of funding in the past month.

AI的擴展也影響了加密貨幣資金。超過30％的交易流入AI項目，成為最大的投資部門。超過22％的交易流入開發人員工具中。付款服務出現了一種新趨勢，在過去一個月中佔據了18％的資金。

March was a particularly strong month for VC deals, as revealed by Cryptorank data. By the end of the month, a total of 122 deals were closed, raising a total of $4.84B. After two relatively slow months, March stood out as a period for rapid deal-making, suggesting older narratives may reawaken.

正如Cryptorank數據所揭示的那樣，對於VC交易而言，三月是一個特別強大的月份。到本月底，總共完成了122筆交易，總計籌集了4.84B美元。經過兩個相對較慢的月份，三月作為快速交易的時期脫穎而出，表明較舊的敘述可能會喚醒。

The recent growth comes from undisclosed rounds, while seed rounds still make up around 30% of all funding. The most common rounds are for $3M to $10M, followed by smaller fundraising of $1M to $3M. Those types of rounds make up around 60% of all funding activity. Around 6.28% of all deals are for over $50M.

最近的增長來自未公開的回合，而種子回合仍然佔所有資金的30％。最常見的回合是300萬美元至1000萬美元，隨後籌款為100萬美元至300萬美元。這些類型的回合佔所有資金活動的60％。所有交易中約有6.28％的價格超過5000萬美元。

Animoca Brands leads with the most funding rounds

Animoca品牌以最多的資金回合領先

For the first quarter of 2025, Animoca Brands and OKX Ventures were tied with 14 funding rounds each. Coinbase Ventures completed 13 funding rounds, and Amber Group closed 10 VC deals.

在2025年的第一季度，Animoca Brands和Okx Ventures都有14個資金回合。 Coinbase Ventures完成了13輪資金，Amber Group完成了10次VC交易。

Animoca Brands stood out for being the only fund still trying to rebuild on-chain gaming. GameFi now makes the bulk of fundraising for Animoca Brands, with 177 deals to date.

Animoca品牌是唯一仍在嘗試重建鏈遊戲的基金而脫穎而出。 Gamefi現在為Animoca品牌提供了大部分籌款活動，迄今為止達成了177筆交易。

In March 2025, a total of 30 GameFi deals were completed, with another 30 for blockchain services.

2025年3月，共完成了30次GameFI交易，另外30次用於區塊鏈服務。

Animoca Brands completed its biggest round in March for Slingshot, a new GameFi project. The fund led an undisclosed round for $16M. Animoca Brands also supports NFT projects, remaining one of the last backers for this type of activity.

Animoca Brands在3月份為新的Gamefi項目Slingshot完成了最大的回合。該基金以1600萬美元的價格領導了未公開的回合。 Animoca品牌還支持NFT項目，仍然是此類活動的最後支持者之一。

Despite the recent revival, VC funding is still down from the levels of 2021. Quarterly funding easily surpassed $10B during the 2021 bull market. The current recovery helped the market reach 50% of that level.

儘管最近有復興，但風險投資仍然比2021年的水平下降了。在2021年牛市中，季度資金很容易超過10B美元。目前的回收有助於市場達到該水平的50％。

Token-based fundraising slows down

基於代幣的籌款減慢

The first three months of 2025 caused token fatigue after the launch of thousands of meme tokens. For that reason, token launchpads saw a significant outflow of activity and significant losses from most launches. Only Bybit retained its positive ROI, with 700% in gains for the first three months of 2025, while other platforms posted significant losses from their token launches.

2025年的前三個月引起了成千上萬個模因令牌後的令牌疲勞。因此，令牌發射台看到大多數發射的大量活動和巨大損失。只有Bybit保留了正投資回報率，在2025年的前三個月中，增長700％，而其他平台則因其令牌發布而造成了巨大損失。

Overall, private token sales made up just 2.8% of VC rounds, as more projects decided to go tokenless. Offering tokens to early VC backers continues to be a red flag for projects, due to selling pressure over the years.

總體而言，隨著越來越多的項目決定無用的項目，私人代幣銷售僅佔風險投資回合的2.8％。由於多年來銷售壓力，向早期風險投資支持者提供代幣仍然是項目的危險信號。

Token creation is more curated, with some of the new TGE happening on the Binance ecosystem. Each launchpad is becoming specialized in different types of tokens. Gate.IO is the leader in launching GameFi assets, while others focus on DeFi tokens.

代幣的創建更具策劃，其中一些新的TGE發生在二元生態系統上。每個LaunchPad都將專門從事不同類型的令牌。 Gate.io是推出GameFI資產的領導者，而其他人則專注於Defi令牌。

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

加密大都會學院：想在2025年養活您的錢嗎？在即將到來的WebClass中學習如何使用Defi進行操作。保存您的位置