Web3 projects see 78% drop in VC investments as crypto funding falls
- Web3 projects have raised $3.6 billion from venture capital firms in the first half of this year.
- This represents a 78% drop compared to the same period last year.
- Deal flow for web3 projects is at its slowest pace since the final quarter.
- The overall funding for crypto projects has also experienced a decline.
It seems that the enthusiasm for web3 projects has cooled down among venture capital firms, as evidenced by the significant drop in investments. This decline in funding can be attributed to the overall downward trend in crypto funding. While the web3 ecosystem may be experiencing a temporary setback, it is important to remember that the world of crypto is highly volatile and unpredictable. It will be interesting to see how these projects adapt and attract investors in the future.