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Coinbase Says Web3 Projects Led Record Venture-Arm Investments

  • Coinbase Ventures poured money into almost 150 deals in 2021
  • About 90% of capital raised since inception deployed last year
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WATCH: The tech world is buzzing with Web3 and its possibilities, but what is it exactly?Source: Quicktake

Coinbase Global Inc. said its venture- capital arm dramatically increased its investments last year, pouring money into nearly 150 deals that focused in large part on supporting Web3 projects and services. 

About 90% of the capital Coinbase Ventures allocated since its inception four year ago was deployed last year, the largest U.S. cryptocurrency exchange said in a blog. The company didn’t give a total amount. Web3 has been described as a decentralized environment built on crypto technology in which swarms of collaborators take back control of the internet from giant tech companies.