I want to offer you a quick overview of the current state of Web3 funding.

Many of you may experience a lack of interest in Web3 topics or even a lack of funding. We are deep into the bear market.

My aim is to help you navigate this space with greater confidence by providing you with the data. This time, the numbers tell a consistent story.

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Here are the stats: 

  • Overall Q3 fundraising hits $2.1. billion in 297 deals, down 36% from last quarter; deal count was down 6% (288) from Q3 (306)1

  • Early-stage deal share grew to 48% of all deals, significantly exceeding the two-year average. The most projects were funded in the US.

  • a16z crypto invested $70m just in September (IYK, Freatic, Bastion, Story Protocol), $162m in Q3 and $495m YTD. Over the past two years, a16z Crypto has been one of the most active crypto VCs, with around $5 billion in investments.

  • Among the most active crypto investors, notable names include Snoop Dogg, Mark Cuban, Timbaland, Balaji Srinivasan, and Michael Jordan.