A recent survey conducted by CoinFund has revealed that a majority of web3 founders are looking towards 2024 with optimism for the opportunities in the crypto startup space. The survey, known as the CoinFund Founder Forecast, gathered insights from 30 web3 portfolio companies at various stages of development, including pre-seed, seed, and Series A.
Key Takeaway
A majority of web3 founders remain optimistic about the future of crypto startups in 2024, despite the challenges faced during the recent market downturn.
Survey Insights
The survey, which took place from November 7 to November 17, coincided with a period where cryptocurrencies such as bitcoin and ethereum were displaying signs of price recovery. Despite the challenges faced by some crypto startups, the respondents expressed a sense of resilience and determination to navigate through the market dynamics.
Founder Perspective
Alex Felix, managing partner and chief investment officer at CoinFund, highlighted the resolve demonstrated by the surveyed companies. He emphasized that despite the bear market conditions, these companies are well-positioned with sufficient runway and a clear vision for the future. Felix noted that the recent crypto downturn was attributed to human errors and governance issues, which in turn fueled a renewed determination to continue building within the web3 space.
Areas of Growth
According to the survey findings, several areas within the web3 and crypto ecosystem are expected to experience significant growth in the upcoming year. These include AI integration with web3, zero-knowledge technology, decentralized finance, consumer applications, gaming, layer-2 blockchains, and crypto wallets. The identified areas reflect the diverse opportunities that founders are anticipating within the evolving landscape of crypto startups.
