.PitchBook senior emerging technology research analyst Robert Le breaks down VC funding in the coming months and details which areas of crypto are seeing growth right now. _franvela reports
Crypto winter hasn’t hit all corners of the industry the same way. According to a senior analyst at data and research firm PitchBook, venture capital investors are still betting on Web3.” that VC funding has been shifting away from centralized crypto services such as lenders and exchanges, while companies involved with expanding Web 3 have seen an increase in investment.
“Web 3 is one area that investors have deployed a lot more money over the last six months,” Le said, including the metaverse, gaming and other blockchain-based technologies. During the third quarter of 2022, VCs invested an estimated $1.5 billion into Web3-based companies.Gaming Platform Forte Partners With Venture Studio SuperLayer to Expand Beyond Web3 Gaming
According to PitchBook's latest report on third-quarter emerging technologies, by 2027 Web3-based content platforms will bring in an estimated $39 billion in revenue, versus the $3.4 billion in revenue that is expected to be earned by the end of 2022. “What you have seen, though, is that there’s been a shift away from centralized crypto services,” Le added.
VC investing for “exchanges, custodial wallets, crypto on-ramps” and “a lot of centralized lending and borrowing services” fell by about 85%, he said, quoting the report. Le said while the decline is sharp, it’s “not surprising” considering the high-profile failures of many companies, including
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