Crypto startups secure $691 million in venture capital during September

Crypto startups attracted a total of $691 million in venture capital funding during the month of September, as reported by DefiLlama data. This represented a 3% increase compared to the previous month of August. The blockchain gaming sector experienced significant growth for the second consecutive month, with VC funds pouring $63 million into blockchain titles, marking a 32% monthly increase. Balance Games, in particular, received a major investment of $30 million to combine blockchain and artificial intelligence for enhanced user experiences. In terms of infrastructure, projects in this sector received the largest portion of funding, totaling $457 million, capturing 71.5% of the funds received by the entire crypto ecosystem in September. Celestia raised the largest amount in a strategic funding round, securing $100 million, while Huma Finance raised $38 million to develop its blockchain-based payment network. However, DeFi ecosystem startups experienced a decline in funding, receiving $58 million, down 55% from August. Despite this, there was a boost in funding directed toward startups building blockchain-based versions of traditional services, with $59 million allocated for Web3 adoption. Notably, Tune.fm, a decentralized music streaming platform similar to Spotify, attracted $50 million in funding during the month.