Crypto venture capital funding in Q1 2023 dropped by 83% compared to Q1 2022, signaling a downturn in the industry. However, industry executives remain optimistic about long-term potential. Gvantsa Chkuaseli from Outlier Ventures cites recent investments in Mawari and Zinc as evidence of ongoing interest. Saqr Ereiqat from Crypto Oasis sees the downturn as an opportunity for discerning selection and separating innovative projects from the rest. Phillip Lord from Oobit emphasizes the need for sustainable business models to attract investment, while also noting the transformative impact of AI on the VC landscape.
