Recent reports have indicated that the cryptocurrency fundraising market has experienced an increase in the number of donations, totaling over 160 million dollars. The funding was introduced by a variety of sources, including Sequoia, a16z, Circle, Kycoin, OKX, Polychain, and many others.
The donations were given to a number of different cryptocurrency initiatives, one of which was LayerZero Labs, which garnered an astounding 120 million dollars. Another one of the beneficiaries was Polyhedra Network, which brought in $15 million, followed by the cryptocurrency platforms Bitget and IOST, each of which brought in $10 million. Additionally, crypto firms like Roseon Exchange, Ens.vision, Kryptview, and Halo Wallet were recipients of sizeable contributions.
Significantly, this surge in donations is a positive sign for the crypto fundraising market, which has struggled in the past due to market turbulence. However, 2022 was a successful year for the industry, with the second-highest fundraising year in The Giving Block’s history.
The most recent report from The Giving Block, titled “Crypto Philanthropy Data, Trends & Predictions,” forecasts that the total value of contributions made using cryptocurrencies will exceed $10 billion in the next ten years. Also, the report disclosed that contributions made using cryptocurrencies hit a new all-time high of over 125 million dollars in 2022.
The Giving Block predicts that cryptocurrency donations will continue to rise, with $1 billion in donations expected by August 2027, $5 billion by June 2031, and over $10 billion by November 2032. These donations are a reliable source of major gifts for non-profit organizations, according to the report.
