Web3 Funding Plummets 76% as Blockchain Struggles for Mainstream Traction
• Funding for web3 startups has declined 76% from 2022, totaling just $4B in H1 2023 due to lack of trust after major failures • Web3 introduced a new decentralized software architecture that will be useful for future data regulations • Web3 companies need to market to traditional software buyers by using clear language and focusing on classic value props • Decentralization provides advantages like better performance, security, compliance and user experience • Blockchain can enable personalization and privacy together by encrypting user data, a major opportunity