Encryption project The capital scene is heating up again after a number of weak quarters, amid talk of a possible market recovery.
Investors are returning to investing in web3 technology, cryptocurrencies and blockchain, said John Nahas, vice president of business development at Ava Labs. “The renewed focus is on real-world use cases, infrastructure and practical solutions rather than the more abstract and trendy projects of the past.”
In the third quarter, the cryptocurrency space witnessed $1.8 billion invested across 309 dealsAccording to a new PitchBook report. This represents a 28.3% decline from the previous quarter, marking “the quietest activity since late 2020” and the sixth consecutive quarter of decline in the value of venture capital investment in web3 companies.