The Rollercoaster of 2023
This year has been a wild ride, hasn’t it? If this was an amusement park, I’d be screaming my lungs out by now! We kicked off with bullish optimism in our industry, as DeFi skyrocketed and hopes for continuous growth floated high. However, in true rollercoaster fashion, we were all taken for an unexpected loop with the collapse of Terra and the UST depeg. Talk about a heart-stopping moment!
Building Through the Chaos
While many fretted about raising funds during turbulent times, we kept on building. Here’s a fun fact: despite the chaos, there was still money to be raised! Contrary to popular belief, bear markets are not graveyards for innovation but rather places that sift the wheat from the chaff. After all, who wants to invest in something that’s just shouting hot air about being “the next big thing” without a solid foundation?
Substance Over Spectacle
Many projects raised millions without delivering results – just another day in a bustling Web3 metropolis. The aftermath of a bear market shines a spotlight on these projects that lacked any tangible backbone. No revenue streams? No problem! Just put a flashy website up and hope for the best. Unfortunately, the cold hand of market reality comes to knock. Companies without substance face inevitable downsizing or, worse, collapse. But for those with a genuine product and vision? The future remains bright!
The Silver Lining: Opportunities for Serious Builders
One might assume that raising funds in a bear market is like trying to sell snow cones in Antarctica. Surprisingly, that’s not the case! Investors, especially VCs, are on the hunt for high-quality endeavors. With many projects flailing, the spotlight gets brighter on those that exhibit real potential. Take a moment to admire your project—it may very well be the diamond in the rough that savvy investors are willing to get behind.
Money is Out There—Find It!
Let’s address the elephant in the room: funding is still alive and kicking, and VCs are interested. As they seek out projects with genuine revenue potential, they have billions at their disposal. So, let’s switch gears and get back to the basics: If your product has real value and your team is solid, go out there and seize that funding! The market may be volatile, but there are still abundant resources for resilient, agile teams willing to innovate.
The bear market acts like a detox for the industry, helping to eliminate the fluff while paving the way for genuine innovation.
