• Insider spoke to 13 cryptocurrency VCs about the industry trends they hope to see in 2023.
• Among his predictions: The era of big exchanges like FTX is over, but NFTs will take on new life.
• While funding is likely to dwindle, more and more companies will adopt Web3, the venture capitalists said.

It’s been a tumultuous year for cryptocurrency and Web3 companies, and even industry boosters have had to admit some hard truths about their shortcomings.

However, many of the venture capitalists who have invested billions of dollars in Web3 remain true believers in the potential of blockchain technology. Although this year’s cryptocurrency crash has been painful, they say, it has brought the benefit of driving out speculators seeking short-term profits, and ultimately believe that startups creating legitimate products and services will have their time to shine. .

“We are redoubling our efforts and actively moving towards blockchain because we know the best companies will come out of this correction stronger than ever,” said SC Moatti, founder and managing partner of Mighty Capital.

Insider asked 13 cryptocurrency venture capitalists what trends they think 2023 will bring to the industry. While the current crypto winter won’t melt away overnight, they said, they anticipate big breakthroughs in areas like finance, gaming, and weather technology. Here are their predictions.