Blockchain Projects Still Stuck In Venture Capital’s Crypto Winter

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Blockchain Projects Still Stuck In Venture Capital’s Crypto Winter

Venture capitalists gave up on blockchain products in the third and fourth quarter of 2022. Investors cautiously returning in 2023.

… [+]to life. Venture capital plummeted in the third and fourth quarters and is hobbling into 2023. What’s the mood like?gettyOnly two years ago, any run-of-the-mill blockchain project could walk into a Silicon Valley venture capitalist’s office singing that Lego Movie tune “Everything is Awesome!” and walk out with a cool million. Yeah, that’s over for now.

“FTX pushed trust away from the space in general, and while it is a distraction for new holders and for investor acquisition, it just means that the primary focus (for us) is now pointed toward maintaining the existing user base,” says Bryan Legend, co-founder of OOXY Labs and Vulcan Blockchain in Australia.

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