Innovative Gamified Platform Blocktrade Secures $10M Pledge from ABO Digital Utility and Compliance are Key to Surviving the Crypto Funding Slump
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Venture capital investment in Web3 companies has taken a hit in 2023, forcing the industry to grapple with a 76% decrease in funding as compared to last year. Despite the crypto winter and this decline in fundraising opportunities, blockchain projects at the cusp of innovation with a clear roadmap for long-term success have continued to buck the trend and garner financial support. What these projects have in common is a focus on bringing true value to users, businesses and the market, and increasingly important is demonstrating that they are delivering this value in a regulatory compliant way.
The crypto market was, for a long time, dominated by companies favoring speculation and hype over utility, leading many to crash and burn. This ultimately resulted in significant financial losses for investors and users, in addition to bringing greater skepticism upon an already under-the-spotlight industry from an unconvinced public. That being said, investors and financial institutions—whose recent show of support has significantly boosted overall confidence in the industry—still recognize the immense impact blockchain can and already is having on businesses and individuals.
VC awareness of blockchain’s inherent value translates directly into the funding trends we are witnessing today. Projects catering to users and their needs are coming out on top. In other words, projects with research-backed, long-term goals are beginning to triumph over short-term projects with little substance behind their claims, signaling that the industry is maturing and is moulding to the actual needs of its users. Companies that promise to
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