Lattice VC: More than 80% of crypto startups that announced seed round financing in the 2022 bear market are still under construction

Odaily News More than 80% of crypto startups that announced seed rounds in 2022 are still building today, according to a new report from Lattice VC. In the turbulent months of 2022, venture capitalists invested more than $5 billion in 1,200 teams that announced their seed rounds, 2.5 times more than in 2021. With so much money pouring in in 2022, people naturally expected a higher failure rate, but that wasn't the case, said Lattic co-founder Mike Zajko. Among the projects of the same period, Eigen Labs was in the lead, and its proposed re-staking laid a narrative that many startups in Ethereum and other fields built on two years later. But such success doesn't represent everything. Lattic said that only 1% of teams found product-market fit, and only 12% of teams raised follow-on financing. According to Lattic data, startups in the 2022 era have issued significantly fewer tokens than teams in 2021, only 15% of 2021. Zajko said this could be due to the team missing the “bull window” and CEXs becoming “picky” about which assets they list. (CoinDesk)