Lattice VC Report Reveals Resilience of Crypto Startups from 2022

According to Odaily, a new report from Lattice VC indicates that over 80% of crypto startups that announced seed funding in 2022 are still actively developing their projects. During the turbulent months of 2022, venture capital firms invested more than $5 billion into 1,200 teams, which is 2.5 times the amount invested in 2021. Despite the significant influx of funds, the expected failure rate has not materialized, according to Lattice co-founder Mike Zajko. Among the projects from that period, Eigen Labs has emerged as a leader with its re-staking proposal, which has influenced many Ethereum and other sector startups two years later. However, such success stories are rare. Lattice reports that only 1% of teams have found a product-market fit, and just 12% have secured follow-up funding. Lattice's data also shows that the number of tokens issued by startups from 2022 is significantly lower than those from 2021, amounting to only 15% of the previous year's total. Zajko attributes this to teams missing the 'bull market window' and centralized exchanges becoming more selective about which assets to list.