Blockchain Gaming
Stabilization of Web3 Startup Funding Signals Market Recovery
Thursday. July 25 at 10:00 PM
1 min. readVenture funding for Web3 startups is showing signs of stabilization after a year-long decline that began in 2023, with crypto ventures securing around $2 billion in financing in the second quarter of 2024, as reported by Crunchbase. Although the Q2 figures are only slightly higher than the $1.8 billion raised in the previous quarter, they mark a turnaround from the downward trend that saw Web3's quarterly venture funding drop by almost half last year. The total volume of deals also decreased, from 681 in Q1 of 2023 to 284 in Q4. Despite the recent increase in funding, deal volume remains low, with only 291 financing rounds closing in Q2 of 2024. The cautious approach is evident in the size of deals, with only seven rounds exceeding $50 million. Notable deals include Monad Labs' $225-million funding round and Farcaster's $150-million Series A, reflecting a cautious yet hopeful market sentiment in the world of crypto.