Crypto

2022 – Investors Sue Web3 as Blockchain Industry Grows Despite Bear Market – Actual News Magazine

The third quarter of 2022 saw a decline in venture capital activity in the blockchain industry. Investors seem to be moving away from decentralized finance (DeFi) towards Web3.

The crypto industry tends to have a problem with overuse of buzzwords, like how “DeFi” was all over the place just a few years ago. In 2022, it seems like all new startups and established blockchain companies are taking on the “Web3” role. But what is Web3?

Cointelegraph Research explored this issue in its recently released third quarter 2022 venture capital report. To better understand the subject, he organized a roundtable with venture capitalists to find out how they feel about Web3.

Web3: the new buzzword

The panel was asked if the term Web3 is being overused or if it’s the next big thing. Tim Draper, founder of Draper Fisher Jurvetson, said:

“The media is capturing people’s imaginations and they’re kind of saying, ‘Web3! We have a new one! And what it does is it makes me — and I’m sure it makes entrepreneurs everywhere — think, “Okay, with Web3, what can I do? And so, all of a sudden, they become more creative.

Draper shared his thoughts on the current state of the crypto industry and his thoughts on Web3. Smyyet Belrity, managing partner of Keychain Ventures, which provides funds with investment opportunities in web3 and blockchain, was also on the panel. Rounding out the panel is Julian Liniger, co-founder and CEO of Relai, a Bitcoin (BTC) app.

Of the current bearish sentiment among venture capitalists, Draper said:

“Investors are always wrong. They come when everything is very interesting and everything is going well, and then all venture capitalists have to compete. […] Now, of course, is the best time to invest in venture capital.

Panellists also discussed the current state of the crypto market, venture capital activity in the crypto space, popular trends in 2022 and what could be on the horizon in 2023, in addition to looking at Bitcoin and its role in Web3 and DeFi moving into the future.

The opinions expressed in this article are for general informational purposes only and are not intended to provide advice or recommendations regarding any person or any particular security or investment product.

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