Despite the crypto downturn, 2023 unveils a resilient Web3 sector with $9.13 billion raised, showcasing a slow but steady recovery, particularly in Q4. The RootData report indicates a pivot towards the Asia-Pacific, led by key players like HashKey Capital, and a notable presence of U.S. firms such as a16z Crypto. With a significant reduction in project failures, from 239 in 2022 to 120 in 2023, the Web3 ecosystem is signaling a maturation phase. This year's funding, despite a drop from 2022, reflects a strategic shift and confidence in Web3's long-term potential, highlighting a global, diversified investment landscape.
