Dumb Ideas Are No Longer Being Funded
TL;DR
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Messari simply dropped its Q3 2023 State of Crypto Fundraising report.
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Q3 marked new lows in each total funding quantities and deal counts, lows which hadn’t been seen since This fall 2020.
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The vast majority of offers that occurred in Q3 had been concentrated in early stage rounds (Pre-Seed, Seed, and Sequence A offers) and in infrastructure, and DeFi.
Full Story
Messari simply dropped its Q3 2023 State of Crypto Fundraising report, and it is about as surprising as your uncle Steve’s drunk tweets.
(Not fairly, to say the least).
Q3 marked new lows in each total funding quantities and deal counts, lows which hadn’t been seen since This fall 2020.
Briefly, we’re knee-deep within the bear market swamp, and it isn’t precisely a pool get together out right here (see gif).
One fascinating factor to notice nevertheless:
The vast majority of offers that occurred in Q3 had been concentrated in early stage rounds (Pre-Seed, Seed, and Sequence A offers) and in infrastructure, and DeFi.
What does that imply? Properly, the pitch of “our built-in Web3 know-how goes to…one thing, one thing, one thing…change the world!!!”?
It ain’t flyin’ anymore (thank god!)
Buyers need to see actual, apparent utility.
(In any other case they are not spending a cent).
