Galaxy Digital anticipates more VC funding for Web3 businesses in 2023
Blockchain Council
Alex Thorn, director of research at cryptocurrency investment firm Galaxy Digital, forecasted the trend to continue in 2019. In 2022, Web3 Blockchain enterprises and trading-based platforms led venture-capital transactions and funding.
On CoinDesk TV’s on Monday, Thorn predicted that by 2022, 31% of agreements would be completed mostly in the Web3 sector, which includes non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), the Metaverse, including online gaming. In comparison, trading systems may be used in 13% of transactions.
In 2022, VCs made over $30 billion in investments in businesses that work with cryptocurrencies and Blockchain technology, as per Galaxy’s “Crypto VC Year End” report.
Thorn noted, however, that until 2022, the volume of transactions and the quantity of capital invested declined gradually every quarter. He assumed that macroeconomic causes and the failure of significant crypto firms may have impacted this fall.
According to the company’s data, he said, more money has been invested in later-stage enterprises, especially those that provide trading and exchange services.
It makes some sense because there are now far more later-stage businesses than there were previously, according to Thorn.
According to Thorn, when it comes to bitcoin venture capital agreements, the United States “remains in the top position,” but policymakers must design measures that don’t obstruct progress.
If you want to keep up with the trends of blockchain industry, join our communities on Discord, Reddit and Telegram.
Related Articles
View All
News
Ledger AI Agents for Crypto Asset Management: Stronger Web3 Security Through Hardware Approval
Ledger AI agents separate AI-driven crypto asset management from signing authority, using hardware approval to reduce prompt injection and Web3 security risks.
News
Visa's Open USD Stablecoin Platform: What It Means for Digital Payments
Visa's backing of Open USD through VSP could make stablecoins a core layer for settlement, treasury, cross-border payments, and enterprise finance.
News
Bank of America AI and Digital Assets Expansion: What It Means for Financial Innovation
Bank of America is scaling AI and digital assets across banking, markets, and wealth, signaling a practical shift toward tokenized, AI-driven finance.
Trending Articles
Top 5 DeFi Platforms
Explore the leading decentralized finance platforms and what makes each one unique in the evolving DeFi landscape.
How Blockchain Secures AI Data
Understand how blockchain technology is being applied to protect the integrity and security of AI training data.
What is AWS? A Beginner's Guide to Cloud Computing
Everything you need to know about Amazon Web Services, cloud computing fundamentals, and career opportunities.