Venture capital (VC) firms are increasingly focusing on established crypto projects with predictable revenue models, signaling a shift driven by market maturation. Eva Oberholzer, chief investment officer at Ajna Capital, noted that this transition reflects a reduced interest in pre-seed investments, with VCs now prioritizing projects characterized by institutional adoption and stable revenue generation. Unlike the speculative environment of past cycles, current investments are more anchored in creating sustainable business models, according to Oberholzer. This trend aligns with demands from traditional financial investors seeking reliable revenue streams from digital assets. Recent interviews with industry experts reveal VC interests in stablecoin initiatives and payment infrastructure that can yield consistent fees. Additionally, the growth of tokenized Real World Assets (RWAs) is attracting attention from VC firms, highlighting a shift toward financial models that align with investors' expectations for earnings and growth in the blockchain landscape.

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