VC funding into Web3 start-ups down 82% year-over-year: Crunchbase By Cointelegraph

According to data from Crunchbase, venture capital (VC) funding into Web3 start-ups tanked 82% year-over-year (YoY), declining from $9.1 billion in Q1 2022 to $1.7 billion in Q1 2023.

Crunchbase News highlighted the data in an April 20 report, noting that the $1.7 billion figure for Q1 2023 also marks the lowest amount of Web3 start-up funding since the $1.1 billion posted in Q4 2020 — a time in which “many people had never heard of Web3.”