Venture funding for Web3 startups declined 74% YoY in Q4 of last year as a result of the turmoil in the cryptocurrency market in the second half of 2022. Funding in Q4 totaled $2.4B compared to $9.3B in the same period in 2021. The number of deals announced in the quarter dropped from 677 in Q1 2022 to 327 in Q4. More: - Per Crunchbase, the funding pullback was likely exacerbated by the fall of crypto exchange platform FTX. - Only four mega funding rounds of over $100M were announced in Q4, down from 20 such deals announced in the same quarter in 2021. - Amber Group, Matter Labs, Uniswap, and Mineplex raked in over $100M each in the quarter. - Web3 startups were able to nab $21.5B by 2022 year-end, down a quarter from $29.2B in 2021. - None of the Web3 startups were able to nab over $1B in funding due to the crypto winter and the fallout of several firms. - Blockchain startup ConsenSys, ethereum scaling platform Polygon Technology, and NFT marketplace Yuga Labs were able to raise $450M each.