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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/06\/02\/the-web3-winter-isnt-going-to-warm-up-anytime-soon\/<\/a><\/br> There\u2019s something phoenix-like<\/span> about the crypto world. No matter how high the highs, or how low the ensuing lows, blockchain enthusiasts, founders and investors remain confident that their favored sector will rise again. You have to give it to them: It always has bounded back.<\/p>\n We saw this happen in the wake of the initial coin offering (ICO) boom, for example, when NFTs and DeFi took off, helping propel the web3 startup and token world to new heights.<\/p>\n Today, we\u2019re checking on the vital signs of web3<\/a> as the sector struggles up the crater left by major tokens, blockchains and startup projects falling back to Earth after 2021. If there\u2019s another rollercoaster ride coming in crypto land, we want to be ready for it.<\/p>\n The Exchange explores startups, markets and money. <\/em><\/strong><\/p>\n Read it every morning on TechCrunch+<\/a> or get The Exchange newsletter<\/a> every Saturday.<\/em><\/strong><\/p>\n <\/a>Sadly, there isn\u2019t going to be a resurgence anytime soon. From an initial read of data from the past month, we can infer that the current crypto winter is far from thawing \u2014 it could even be getting colder. Let\u2019s dig in.<\/p>\n Data from Crunchbase paints a jarring picture of investment in web3, crypto and blockchain startups.<\/p>\n Companies in the sector collectively attracted $1.2 billion in VC funding in April and May of this year, according to the firm\u2019s web3 tracker<\/a>. There\u2019s still one month left in this quarter, but it\u2019s pointless to expect any miracles: At the current rate, Q2\u2019s tally would reach $1.8 billion, less than the $2 billion raised by web3 startups in Q1 2023.<\/p>\n That $2 billion wasn\u2019t anything to write home about either. Though Q1 2023 was slightly better for web3 companies than 2020\u2019s quarterly numbers, it was about five times less than Q1 2022 ($10.8 billion).<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nThe web3 winter isn\u2019t going to thaw anytime soon<\/br>
\n2023-06-02 21:46:59<\/br><\/p>\n
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\nBoom to bust?<\/h2>\n