TechFlow news, according to a study by Binance, venture capital investment in the top ten Web3 projects in 2023 saw a sharp decline, raising only $1.78 billion. This total is 70% lower than the $5.87 billion raised in 2022.
The majority of major funding rounds occurred in the second half of the year, with six out of the ten largest deals taking place during this period. Phoenix Group, a Bitcoin mining services provider, and Ramp, a non-custodial payment infrastructure company, led the pack with funding rounds of $370 million and $300 million, respectively.
The research shows that Web3 projects collectively attracted $9 billion in investments, with infrastructure projects accounting for 36.5%, while centralized finance (CeFi) and decentralized finance (DeFi) platforms accounted for 13.3% and 8.6%, respectively. Decentralized autonomous organizations (DAOs) received the least capital investment, making up only 0.47% of the total.
