2022 was a bumper year for Web3 and crypto VC investing despite the high-profile meltdowns, but that trend may not continue into 2023.
“The macro, monetary, and crypto asset environment portends a difficult year ahead for all involved.”
He added that declining company valuations and stricter demands from investors will bring about a more difficult fundraising environment for entrepreneurs. “Startups will need to be laser-focused on fundamentals, taming operational expenses, and driving revenue in 2023,” he continued. The United States regulatory environment will also have implications since America still dominates the crypto-startup ecosystem.deals last year involved a U.S.-headquartered startup, according to the report.
“The continued importance of the US to these markets, and its leading position, provide ample reason for US policymakers to clarify and codify rules and regulations for the emerging space.”Gene Frantz, General Partner at Google and Alphabet’s independent growth fund CapitalG, told“The current news cycle may be rough, but persistence and innovation combined with an improving economic outlook will restore the optimism that has always defined our [venture capital] industry.
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