“Startups have been capable of elevate uncharacteristically sized rounds for his or her stage, generally buying a number of years of runway pre-product, whereas over the course of the final six months, buyers pivoted to underwriting fewer offers concentrating on larger conviction, extra concentrated bets,” George advised CoinDesk in a observe. “Throughout this time period, buyers started to re-evaluate their deal with what constitutes product market match, realizing that enormous token incentive applications rewarding person participation creates distorted traction metrics and overlooks person stickiness.”

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