- Analysts at Lattice Fund say 80% of crypto startups that secured funding in 2022 are nonetheless energetic.
- Analysts have recognized Ethereum’s EigenLayer as a standout performer amongst 2022 startups.
- Ethereum stays the dominant layer 1 blockchain, with 314 tasks receiving $1.4 billion in funding.
Analysts at Lattice Funds discovered that over 80% of crypto startups that acquired funding in 2022 are nonetheless operational regardless of the market turmoil. The report, launched on October 1, spotlights Ethereum restaking protocol EigenLayer as a high performer amongst funded startups in 2022.
Of the 1,200+ startups that raised a complete of $5 billion, 76% efficiently launched their merchandise on mainnet. Solely 18.5% closed. Nonetheless, only one.5% of tasks achieved “product market match” (PMF) and 12% secured further funding.
Ethereum leads layer 1 tasks
Ethereum stays the first layer 1 blockchain for brand new tasks. 314 Ethereum-based tasks acquired $1.4 billion in investments. 82% of those tasks survived, whereas the remaining 18% failed. Ethereum's EigenLayer leads the pack with a profitable market technique and multi-billion greenback product launch in 2023.
Additionally learn: Ethereum builders be part of EigenLayer, however can they continue to be impartial?
Bitcoin-based tasks confirmed the best resilience, with all 18 startups nonetheless energetic. Nonetheless, the $350 million Solana undertaking confronted vital challenges because of the collapse of FTX and the falling value of SOL. Whereas Solana and Ethereum tasks had been each more likely to safe follow-on funding, tasks primarily based on Close to, StarkNet, or Move acquired no additional funding.
Infrastructure and CeFi proved to be essentially the most profitable
Lattice Funds' report identifies Infrastructure and Concentrated Finance (CeFi) as essentially the most profitable sector for funding. CeFi topped the checklist with 80% mainnet launches, adopted by infrastructure tasks with 78% success charge. The sport and Metaverse turned out to be overhyped and had the best failure charge.
Analysts at Lattice Funds identified that investor consideration has shifted to trending sectors reminiscent of DePIN and AI. They are saying, “You will get returns by asking what might be common in a yr or two, relatively than by chasing what's common now.''
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