Too Long; Didn't Read
Funding Continues to Decline:
The Crypto VC market is still facing headwinds as investors are cautious, with Q2 2023 attracting $2.32 billion in funding, slightly lower than the previous quarter.
Number of completed crypto VC deals increased in Q2, but pre-money valuations continued to decline, reaching $17.93 million, while the median crypto VC deal stood at $3 million in Q2 2023.
Web3 Gaming, NFTs, and the Metaverse are high-interest segments, this nascent crypto niche recorded the highest number of deals in Q2 2023.
Crypto VC Landscape:
Despite headwinds in 2023, the US remains the leading destination for venture capital funds in the digital asset industry, with over $2 billion invested this year.
Crypto Winter Continues:
46% of respondents in a survey carried out by InnMind believe that the crypto winter will persist throughout 2023, with market recovery expected in 2024.