This report reviews Web3 industry funding activity in August 2025. A total of 112 deals were completed, with total funding reaching $2.05 billion—a marked decline from previous periods. CeFi once again demonstrated strong capital absorption capacity, infrastructure and mid-sized growth projects received steady support, while application-layer projects faced accelerated elimination. With the emerging trend of “on-chain reserve assetization” and institutional capital increasingly concentrated in Series B and strategic rounds, the Web3 industry is entering a more stable, diversified, and sustainable growth stage. The report also highlights major funding cases, including SuperGaming, Multipli, BOB, HoneyCoin, and Perle.
Key Takeaways:
- Overall fundraising: In August 2025, the Web3 industry recorded 112 deals totaling $2.05 billion, a significant decline in overall scale compared to earlier months. Despite the drop in total funding, the consistently active deal count indicates investor confidence remains intact, suggesting the industry is moving toward a more rational and healthier growth phase.
- “On-chain Reserve Assetization” as a Hot Theme: Among the Top 10 funding deals, traditional capital market instruments (IPOs, convertible bonds, PIPEs) became the primary financing channels. “On-chain reserve assetization” has emerged as a popular theme, with several listed companies integrating public-chain tokens into their financial strategies.
- Hot sectors and funding distribution: The financing landscape showed a clear pattern of “CeFi dominance, steady infrastructure expansion, and pressure on application-layer projects.” CeFi led with $1.3 billion, followed by blockchain services with $240 million. Funding continued to display the structure of “mid- to small-sized deals as the majority, with strong concentration among large rounds.” Growth-stage projects remained the investment focus, with deals in the $3–20 million range accounting for 58.8% of the total.
- Active funding stages and investment institutions: Seed and strategic rounds together accounted for nearly 70% of all deals, reflecting strong investor focus on innovation potential and ecosystem synergies. Unlike last month, when Series A attracted the most capital, August saw a clear shift toward Series B, which accounted for only 9.3% of total deals but absorbed 45.7% of total funding, making it the month’s top capital magnet. On the investor side, leading VCs and industry funds remained the most active. Coinbase Ventures topped the list with eight investments, spanning DeFi, blockchain infrastructure, and CeFi.
- Rapid growth of key projects: Key-funded projects like SuperGaming, Multipli, BOB, HoneyCoin, and Perle—spanned multiple innovative fields, including Web3 gaming, real-yield protocols, Bitcoin ecosystem infrastructure, payment platforms, and AI training data platforms. These cases demonstrate continued exploration of emerging technologies and applications.
Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.
Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.
Gate Team
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