The State of Web3 M&A in 2025: Deal Flow, Valuations, and What Buyers Want
An analysis of 214 closed transactions on Level.io — what categories are trading, at what multiples, and which buyer profiles are most active.
November 8, 2025
Market analysis, deal-making guides, and insights from the Level.io advisory team.
An analysis of 214 closed transactions on Level.io — what categories are trading, at what multiples, and which buyer profiles are most active.
November 8, 2025
We break down the three most common valuation frameworks used in Web3 M&A and explain when each applies.
October 22, 2025
From SAFEs to token warrants, a breakdown of every instrument type and how to price your secondary position.
October 5, 2025
As protocols wind down and teams pivot, acqui-hires are becoming the most common transaction type. Here's how they work.
September 18, 2025
All-token deals, hybrid structures, and earnouts — the mechanics of closing when neither side wants to touch fiat.
September 2, 2025
Technical, financial, legal, and community health — the 47-point checklist our team uses on every transaction.
August 14, 2025