Cbinsights-区块链状况2021年第三季度报告（英）-2021.11-176页_3mb

State of Blockchain Summary - Q3 2021

Core Content

The State of Blockchain report for Q3 2021 highlights the rapid growth and transformation of the blockchain industry, emphasizing the surge in funding, the rise of unicorns, and the dominance of certain regions and investor types.

Key Statistics

• Global Blockchain Funding: Reached $15B in the first 9 months of 2021, a 384% increase compared to 2020.
• US Funding: Surpassed $2.9B in Q3'21, a 1,027% YoY increase and the highest in a single quarter.
• Deals per Business Day: 4.5 deals in Q3'21, totaling 286 deals, a 71% increase from Q3'20.
• Mega-Rounds: 15 in Q3'21, up 1,400% YoY, representing 66% of total funding dollars.
• Unicorns: The global blockchain unicorn count reached 31, with 12 new unicorns added in Q3'21. The US alone accounted for half of the total unicorns.
• Coinbase Ventures: Most active investor with 24 deals in Q3'21, surpassing other investors by over 2.5 times.
• Crypto Exchange Funding: Increased 2,240% YoY to nearly $2B in Q3'21, with 4 new crypto exchange unicorns.
• Custody & Wallets: Accounted for 26% of blockchain funding in 2021 YTD, with $4B raised so far.
• NFT Funding: Surged 6,523% YoY to over $2B in 2021 YTD, with 90% of NFT deals being early-stage.
• DeFi Funding: Saw 191 equity deals in 2021 YTD, a 57% increase from 2020, with $2.1B in total funding, over 6X the 2020 amount.

Main Viewpoints

• Growth in Investment: The blockchain industry experienced a significant increase in venture funding, with the US leading in both deal volume and funding amounts.
• Investor Activity: Venture Capital (VC) dominated the investor landscape, accounting for 26% of all deals, while asset/investment management firms were the second-largest group.
• Unicorn Growth: The US was the epicenter of blockchain unicorn creation, with more than half of the new unicorns in Q3'21 originating from the US.
• Market Concentration: A significant portion of funding went to late-stage and mega-rounds, with these rounds accounting for 66% of total funding dollars.
• Emerging Sectors: NFTs and DeFi continued to attract substantial investment, with NFTs seeing the highest growth rate and DeFi startups benefiting from increased funding.

Key Information

• Top Deals in Q3'21:

  • FTX: $1.0B in Series B, valuation $18.0B.
  • Sorare: $680M in Series B, valuation $4.3B.
  • Genesis Digital Assets: $431M in Series A, valuation N/A.
  • Fireblocks: $310M in Series D, valuation $2.0B.
  • Bitpanda: $263M in Series C, valuation $4.1B.
  • Dapper Labs: $250M in Series F, valuation $7.6B.
  • Blockstream: $210M in Series B, valuation $3.2B.
  • Mercado Bitcoin: $200M in Series B, valuation $2.1B.
  • Blockdaemon: $155M in Series B, valuation $1.3B.
  • TaxBit: $130M in Series B, valuation $1.5B.

• Top Unicorns in Q3'21:

  • FTX: $18.0B valuation.
  • Bitmain Technologies: $12.0B valuation.
  • Ripple: $10.0B valuation.
  • Dapper Labs: $7.6B valuation.
  • Blockchain.com: $5.2B valuation.
  • Sorare: $4.3B valuation.
  • Chainalysis: $4.2B valuation.
  • Bitpanda: $4.1B valuation.
  • FalconX: $3.8B valuation.
  • Blockstream: $3.2B valuation.

• Investor Activity:

  • Coinbase Ventures led with 24 deals.
  • CMT Digital and Polychain Capital followed with 9 deals each.
  • Andreessen Horowitz and Digital Currency Group each had 8 deals.
  • VCs were the most active investor category with 26% of all deals.

• Deal Size Trends:

  • The average global deal size reached $21M.
  • The median deal size for mid- and late-stage rounds increased to $50M+ in 2021 YTD.

• Valuation Trends:

  • Median valuations for blockchain companies hit record highs in 2021 YTD.
  • Dapper Labs had the highest valuation increase with $5.0B added in Q3'21.
  • FalconX and TaxBit also saw significant valuation growth.

Conclusion

The blockchain industry experienced unprecedented growth in Q3 2021, marked by record funding levels, a surge in unicorn creation, and a concentration of investment in the US. The rise of crypto exchanges, NFTs, and DeFi startups indicates a broader shift in how blockchain technology is being applied across various sectors. Investors, particularly VCs and asset/investment management firms, played a crucial role in this growth, with Coinbase Ventures being the most active. The trend suggests a maturing market with increasing interest and investment in blockchain's potential to disrupt traditional industries.