- Top crypto venture capitalists express optimism for 2024’s funding landscape.
- Bullish sentiments were on gaming and AI with web3 components, attracting investments.
- There are also expectations for new players in neobanks, DeFi, payment apps, and DEXs
Crypto funding faced a challenging year in 2023, experiencing a sharp 68% decline to $10.6 billion compared to the previous year’s $33.2 billion. Despite this setback, in a recent interview with The Block, top crypto venture capitalists are expressing optimism about the funding landscape in 2024.
Coinbase Ventures, a major player in the crypto exchange realm, remains “increasingly optimistic” about 2024. The firm anticipates global growth driven by regulatory clarity, maturing protocols, and innovation.
Meanwhile, Galaxy Ventures, led by investor Mike Novogratz, stays vigilant yet committed to early-stage projects. General Partner Mike Giampapa acknowledges ongoing challenges, hinting at potential funding constraints leading to flat or down rounds. Moreover, the firm eyes on industry consolidation through mergers and acquisitions.
Hong Kong-based Animoca Brands paints a “very optimistic” picture, foreseeing a substantially healthier funding environment in 2024. Co-founder Yat Siu notes a momentum shift in the crypto market rebound, expressing bullish sentiments on gaming and AI with web3 components.
Similarly, HashKey Capital, an Asia-based crypto venture capital firm, anticipates a “bullish market” in 2024, seeking new investment opportunities, including liquid investments. Meanwhile, for early-stage investor Shima Capital, cautious optimism prevails, foreseeing increased investment in infrastructure, gaming, and tokenization verticals as the crypto industry is still finding its feet.
Multicoin Capital, sees a “huge opportunity” in the AI revolution, addressing the GPU shortage, and expects new players in neobanks, DeFi, payment apps, and DEXs in 2024. Polygon Ventures anticipates a positive shift in web3 financing, while NGC Ventures expresses optimism, eyeing DePIN and DeSci.
Recent reports suggest that the crypto market is poised for a bull run in 2024, primarily driven by institutional interest and demand. Experts predict that the approval of a spot Bitcoin ETF by the SEC will attract significant capital inflow.
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