{"id":2083,"date":"2023-07-05T08:39:05","date_gmt":"2023-07-05T08:39:05","guid":{"rendered":"https:\/\/cryptofunding.vc\/?p=2083"},"modified":"2023-07-05T08:55:00","modified_gmt":"2023-07-05T08:55:00","slug":"venture-capital-funding-reaches-a-two-year-nadir","status":"publish","type":"post","link":"https:\/\/cryptofunding.vc\/venture-capital-funding-reaches-a-two-year-nadir\/","title":{"rendered":"Venture Capital funding in web3 falls to a two-years low \ud83e\udd14"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\"><strong>TL;DR Breakdown<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The crypto industry witnessed a sharp decline in Venture Capital (VC) funding, hitting a two-year low, as June 2023 saw a mere 83 public investments.<\/li>\n\n\n\n<li>In June, the funding amounted to $520 million, marking a 32% decrease compared to the prior month and a staggering 71% plunge from the previous year.<\/li>\n\n\n\n<li>In spite of the overall decline, Gensyn stood out as one of the few companies to secure a significant investment, raising $43 million in a Series A funding round.<\/li>\n<\/ul>\n\n\n\n<p>The world of Venture Capital (VC) funding is currently experiencing a noticeable slowdown, as recent data highlights. According to RootData, public investment from crypto VCs has reached a concerning two-year low, with a mere 83 deals recorded in June.<\/p>\n\n\n\n<p>This significant shift stands in stark contrast to the 97 deals in May 2023 and the 149 deals in June 2022, representing a decline of 14% from the previous month and a substantial 44% plunge compared to the same period last year.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Riding the storm: Project classification and funding breakdown<\/h4>\n\n\n\n<p>Venture Capital funding in the crypto space demonstrates remarkable diversification across multiple categories, including CeFi, DeFi, Infrastructure, NFT\/GameFi, and Web3, among others.<\/p>\n\n\n\n<p>A detailed analysis of the numbers reveals that infrastructure projects receive the largest share of funding, comprising an impressive 31% of the total projects.<\/p>\n\n\n\n<p>In contrast, DeFi and NFT\/GameFi account for approximately 18% and 20% of the funding respectively, showcasing their significant presence in the market. CeFi, although trailing behind, still commands an 8% share of the funding.<\/p>\n\n\n\n<p>Nevertheless, it is the overall magnitude of the funding that captures attention. The capital influx for June reached a substantial $520 million. While this represents a 32% decline from May&#8217;s total of $760 million, it is important to note that June 2022 saw an extraordinary $1.81 billion, indicating a 71% decline year-on-year.<\/p>\n\n\n\n<p>Despite the overall slump in Venture Capital funding, the month of June witnessed several noteworthy investments. Gensyn, a pioneering blockchain-based AI computing protocol, secured an astounding $43 million in a Series A round, led by a16z with the participation of other prominent investors. This injection of capital aims to bolster Gensyn&#8217;s AI development capabilities, further solidifying their position as a frontrunner in the industry.<\/p>\n\n\n\n<p>Following closely, Mythical Games, a Web3 game studio renowned for its blockchain-based games and marketplace, raised $37 million in a Series C1 round. Similarly, Galaxy Finance, a Web3 wallet platform, and Arkon Energy, a Bitcoin mining startup focusing on renewable power, obtained funding of $30 million and $26 million respectively.<\/p>\n\n\n\n<p>Additionally, the world&#8217;s first cryptocurrency-denominated life insurance firm successfully concluded a fundraising round, securing approximately $19 million. This investment will be utilized to obtain regulatory clearance and launch their innovative bitcoin-denominated whole life insurance policy.<\/p>\n\n\n\n<p>These remarkable investments in June demonstrate the continued confidence and interest of Venture Capital firms in the crypto space, despite the temporary dip in overall funding levels.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Is this the new normal?<\/h4>\n\n\n\n<p>With the numbers painting a picture of decline, one must consider whether this is a temporary setback or the new normal for Venture Capital funding in the crypto space. However, it&#8217;s important to recognize that even amidst this downturn, innovative companies are successfully securing substantial funds, highlighting the enduring appeal of the crypto sector.<\/p>\n\n\n\n<p>While the recent dip in Venture Capital funding may raise concerns, it is essential to approach these figures with a nuanced perspective. This temporary lull could serve as a launching pad for an eventual upswing, driven by the ongoing innovation and resilience that define the crypto industry.<\/p>\n\n\n\n<p>Only time will reveal whether this is a minor hurdle or an indication of more significant turbulence on the horizon for Venture Capital funding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Breakdown The world of Venture Capital (VC) funding is currently experiencing a noticeable slowdown, as recent data highlights. According to RootData, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-2083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funding-round"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Venture Capital funding in web3 falls to a two-years low \ud83e\udd14 - Crypto Funding<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptofunding.vc\/venture-capital-funding-reaches-a-two-year-nadir\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Venture Capital funding in web3 falls to a two-years low \ud83e\udd14 - Crypto Funding\" \/>\n<meta property=\"og:description\" content=\"TL;DR Breakdown The world of Venture Capital (VC) funding is currently experiencing a noticeable slowdown, as recent data highlights. 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