“Startups were able to raise uncharacteristically sized rounds for their stage, commonly acquiring multiple years of runway pre-product, while over the course of the last six months, investors pivoted to underwriting fewer deals targeting higher conviction, more concentrated bets,” George told CoinDesk in a note. “During this period of time, investors began to re-evaluate their focus on what constitutes product market fit, realizing that large token incentive programs rewarding user participation creates distorted traction metrics and overlooks user stickiness.”
Trending
Why the Next US President Needs to Pardon Bitcoin Pioneer Ross...
The story of Ross Ulbricht is one that has captivated the Bitcoin community for years – a brilliant young mind, an entrepreneur with a...