ِAccording to a Reuters report, private equity investors are stampeding towards crypto projects - blockchain-based apps and platforms fuelled by cryptocurrencies.

VC investment in cryptocurrency projects totalled $10 billion globally in the first quarter of 2022, the largest quarterly sum ever and more than double the level seen in the same period a year ago.

Such projects, which can range from crypto and NFT exchanges to decentralized finance applications and token issuers, are often known as protocols in reference to the rules embedded in their computer code.

You're seeing a lot of VC investment into a lot of protocols because they all believe, as we do, that some of these protocols are the infrastructure of the future, said Steve Ehrlich, CEO of Voyager Digital.