If you only focus on the headlines, the Web3 space looks pretty dire over the course of 2022. Funding of Web3 companies has https://news.crunchbase.com/fintech-ecommerce/crypto-funding-falls-h1-2022/ year-over-year when comparing the first half of 2021 to the first half of this year. Cryptocurrency valuations are down by as much as 80%. On the other hand, open source Web3 projects are still going strong according to a https://telstraventures.com/blockchain-may-be-down-but-it-is-not-out/ published by https://telstraventures.com/people/ data science team this week.
Telstra plans to re-run the report on regular intervals to continue monitoring the health of the Web3 open source community.