Web3 startup VC financing is down 82% year-on-year, according to Crunchbase

In the first quarter of the year, funding to VC-backed Web3 startups hit its lowest point since the very early days of the space as deal flow continues to slow.



According to Crunchbase data, venture capital fell 82% year over year, from $9.1 billion in Q1 2022 to only $1.7 billion.



The funding number is also down 30% from the final quarter of last year and is at its lowest level since the fourth quarter of 2020, when Web3 was relatively unknown and only $1.1 billion was raised.



Only 333 agreements were finalized in the first quarter, down from 369 the previous quarter and significantly less than the more than 500 announced in Q1 2022. Deal flow also continued to noticeably decline. Since Q4 2020, the total number of transactions has decreased.



According to Crunchbase, a large portion of the fall in Web3 investment was


First found on: https://coinatory.com/2023/04/22/web3-startup-vc-financing-is-down-82-year-on-year-according-to-crunchbase/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP