Web3 Funding 2023
How was web3 funding for 2023?
The decline in funding for web3 startups in 2023 was observed across the crypto, blockchain, and web3 protocols sectors.
How bad was it?
Funding to web3 startups, defined as those in the crypto and blockchain sectors, fell by 74% year-over-year, with less than USD7 billion invested in 1,564 deals. This decline represents the least amount of cash rolling into the industry since 2020.
When was the worst?
The decline in web3 funding was particularly notable in the fourth quarter of 2023, with only USD1.1 billion raised by web3 startups in 221 deals.
Whatto look forward to in 2024?
With the FTX Bahamian shadow behind us and some key web3 trends to look forward to in 2024 notably streamlined user experiences, widespread AI accessibility, DePINs and phygital marketing, web3 fundraising is set to be back with a bang in 2024.
Watch this space for our partnership announcement tomorrow with a web3 market fundraising intelligence provider.