From Boom To Gloom: Crypto VC Funding Takes A 68% Hit In 2023
Summary
In 2023, crypto VC funding dropped by 68% compared to the previous year, totaling $10.7 billion. Despite the decline, this amount exceeded investments in 2019 and 2020. Early-stage startups received more support, with a shift in deal allocation. Sectors like Web3, NFTs, gaming, and infrastructure attracted significant attention, while others experienced reduced deal frequency. Experts attribute the downturn to macroeconomic factors and regulatory uncertainties. However, there is optimism for a resurgence in funding and deal activities in 2024.
