At a Glance 2023 Web3 Primary Market Barometer

2023 is the year of transition from the bear market to the "bull market". In the first nine months of the bear market, financing in the Web3 industry continued to decline, and after October it entered a "little bull market" ”, financing has also begun to pick up. According to incomplete statistics, the Web3 industry completed 954 financing rounds in 2023, with a total financing amount of US$11.1 billion.

On December 20, Web3 tax startup Tres Finance completed US$11 million in Series A financing; on December 21, Web3 fan platform Medallion announced the completion of US$13.7 million Series A financing; on December 22, Australian Bitcoin miner Arkon Energy completed US$110 million in financing...

At the end of 2023, the "bear to bull" trend Amid the calls, the global Web3 industry has ushered in a new financing peak.

From a monthly perspective, financing peaked in March/April 2023, then continued to decline, reaching its lowest point in September/October.

Since October, the cryptocurrency industry has ushered in a bull market. Within 3 months, Bitcoin has risen from US$26,500 to US$44,000, an increase of more than 60%. %. At the same time, the number and amount of financing increased significantly in November and December.

According to Techub News statistics, there will be 954 financing events in the Web3 industry in 2023, with a total financing amount of US$11.1 billion. While financing in 2023 is down significantly compared to $29 billion in 2021 and $33.2 billion in 2022, it is far higher than any previous year.

From the perspective of financing rounds, early-stage projects are more popular, with pre-seed and seed rounds accounting for 78% of the initial financing amount and 37% of the financing amount.

Among the early financing rounds, there were 9 cases with financing amounts exceeding US$20 million, all of which were seed rounds. Among them, 4 cases were in the infrastructure field, and 2 cases were in AI and NFT/GameFi.

Infrastructure accounts for the highest proportion

From the perspective of specific subdivisions, infrastructure is the most popular investment area, with 358 financing events, approximately Accounting for 38% of the total, the financing amount was nearly US$3 billion, accounting for 30% of the total financing amount for the year.

Among them, 80 projects have raised more than US$10 million. Since then, there have been 39 projects with financing exceeding US$20 million, and 7 projects with financing exceeding US$100 million. The following are the top 10 projects by financing amount:

Second is the NFT/GameFi field, with financing starting number and amount accounting for 16% and 11% respectively. Among them, there were 29 cases with financing amounts exceeding US$10 million. The top 10 projects by financing amount are as follows:

Since OpenAI released the large chat robot model ChatGPT at the end of 2022, AI has been the focus of investment institutions The focus is that almost all Web3 VCs are discussing the transformative potential brought by AI, which is also clearly reflected in financing.

The number of financing starts in the AI ​​field in 2023 is not large, only 26, but the financing amount exceeds US$2 billion, accounting for 21% of the total financing for the year %.

Among the top 10 projects with financing amount throughout the year, 5 were in the AI ​​field, namely Anthropic (financing twice, with financing amount of 100 million, 450 million U.S. dollars), Mistral AI (two financings, with financing amounts of 113 million U.S. dollars and 415 million U.S. dollars respectively), OpenAI (300 million U.S. dollars), Light Years Away (230 million U.S. dollars), and AI21 Labs (208 million U.S. dollars).

In 2023, there was relatively little financing in the DeFi and CeFi fields, with a total of 170 financing events, accounting for 14% of the total financing events throughout the year, and a total financing amount of US$1.4 billion, accounting for 17% of the total financing amount. The following are the 10 projects with the highest financing amount:

a16z invested from 37 dollars

The institution that will invest the most in the Web3 industry in 2023 is a16z (Andreessen Horowitz). Participated in a total of 37 investments and led 23, followed by Coinbase Ventures (35), Shima Capital (33), Animoca Brands (32), etc.

The above eight institutions will participate in 190 investment projects in 2023, including 72 in the infrastructure field and 38 in the NFT/GameFi field. The following are projects with large financing amounts invested by various institutions:

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