it did not work a good year for blockchain-based startups. In addition to one asset price adjustment During the general venture capital downturn, web3-focused emerging companies have also had to deal with a series of intra-industry crises that have sometimes dominated tech headlines.
The Terra/Luna Chaos Think about. as Three Arrows Capital’s crisis. And that’s not to mention the rapid demise of FTX and its related entities.
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Out of all of the above, many people building or investing in blockchain-based assets and protocols have kept their spirits up. The proof of that abounds – startups are still established and scaled in the web3 . space and venture capitalists are still writing checks. Business as usual then, right?
Probably.
It should be recalled that in 2022, the pace of venture capital disbursement into web3-focused companies — a broad term; I’m not trying to think about Cryptocurrency vs Bitcoin argument – has fallen this year. database data checked by my alma mater Crunchbase News For example, it was recently noted that after a peak in Q4 2021, funds raised from crypto or blockchain companies declined in each consecutive quarter until Q3 2022.
