- Insider spoke with 13 VCs who invest in crypto about the industry trends they expect to see in 2023.
- Among their predictions: the era of big exchanges like FTX is over, but NFTs will gain new life.
- While funding will likely slow down, more and more companies will embrace Web3, VCs said.
It’s been a tumultuous year for cryptocurrency and Web3 companies, and even boosters of the industry have had to own up to some hard truths about its shortcomings.
Yet many of the venture capitalists who have sunk billions of dollars into Web3 remain true believers in the potential of blockchain technology. Though this year’s crypto crash has been painful, they say, it has brought the benefit of flushing out speculators seeking short-term gains — and finally, they believe, the startups building legitimate products and services will have their time to shine.
“We’re doubling down and actively steering towards blockchain because we know the best companies are going to come out of this correction stronger than ever,” said SC Moatti, the founder and managing partner of Mighty Capital.
Insider asked 13 VCs who invest in crypto about what trends they believe 2023 will bring to the industry. While the current crypto winter won’t thaw overnight, they said, they anticipate big strides in areas such as finance, gaming, and climate tech. Here are their predictions.
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