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Founder of Mysten Labs: AI has taken over the venture capital share in the encryption field

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On April 17th, Evan Cheng, founder of Sui\’s development team Mysten Labs, stated in an interview that with blockchain and cryptocurrency startups struggling to raise funds after th

Founder of Mysten Labs: AI has taken over the venture capital share in the encryption field

On April 17th, Evan Cheng, founder of Sui’s development team Mysten Labs, stated in an interview that with blockchain and cryptocurrency startups struggling to raise funds after the FTX crash, artificial intelligence has now gained a larger share of venture capital funding. Despite numerous difficulties, Cheng believes that this situation provides an opportunity for developers to create an open and transparent infrastructure. Venture capital firms are still willing to provide early financial support for crypto companies, but valuations have been affected. However, once startups reach the later stages of Series A and Series B, it is difficult to obtain growth capital, and only excellent companies can receive support. （Forkast）

Founder of Mysten Labs: AI has taken over the venture capital share in the encryption field

I. Introduction
– Brief overview of the article topic
– Importance of understanding the relationship between blockchain, cryptocurrency, AI, and venture capital funding
II. The Current State of Blockchain and Cryptocurrency Startups
– Discussion of the struggles faced by blockchain and cryptocurrency startups in raising funds after the FTX crash
– Impact on valuations and funding availability
– Role of venture capital firms in supporting early-stage startups
III. The Emergence of Artificial Intelligence
– Increasing share of venture capital funding for AI startups
– Cheng’s opinion on the opportunity presented by the situation
– Potential benefits of AI in creating a more open and transparent infrastructure
IV. The Challenge of Obtaining Growth Capital
– Difficulties faced by startups in obtaining growth capital at later stages of Series A and Series B
– Dependence on high-quality business models and proven track records for securing support
V. Conclusion
– Recap of main points
– Final thoughts on the future of funding for blockchain, cryptocurrency, and AI startups
– Three FAQs regarding the article topic

On April 17th, Evan Cheng, Founder of Sui’s Development Team Mysten Labs, States That Artificial Intelligence Startups Have Gained a Larger Share of Venture Capital Funding Amidst the Struggles of Blockchain and Cryptocurrency Startups

Blockchain and cryptocurrency startups have been hit hard by the FTX crash, making it increasingly challenging for them to secure funding. However, a new player has emerged in the venture capital funding arena: artificial intelligence.
In an interview with Forkast, Evan Cheng, founder of Sui’s development team, Mysten Labs, stated that artificial intelligence (AI) has gained a bigger share of venture funding. Despite difficulties faced by blockchain and cryptocurrency startups, Cheng believes that this situation creates an opportunity for developers to create a more open and transparent infrastructure.
In this article, we will delve deeper into the relationship between blockchain, cryptocurrency, AI, and venture capital funding. We will also highlight the obstacles faced by startups in obtaining growth capital and the role of venture capital firms in supporting early-stage companies.

The Current State of Blockchain and Cryptocurrency Startups

Blockchain and cryptocurrency startups have been struggling to raise capital since the FTX crash. As a result, valuations of these startups have taken a hit, and funding availability has diminished.
Despite the obstacles, venture capital firms are still providing early financial support for crypto companies. However, valuations have been affected, and startups must now prove their worth to receive funding.

The Emergence of Artificial Intelligence

AI has gained a larger share of venture capital funding recently, and this presents an opportunity for developers. In Cheng’s opinion, this situation creates an ideal environment for developers to create an open and transparent infrastructure.
By using AI, companies can improve transparency and accountability, create a fairer playing field, and solve regulatory compliance problems.

The Challenge of Obtaining Growth Capital

Obtaining growth capital is a challenge for startups, particularly at later stages of Series A and Series B. Companies must have a high-quality business model and a proven track record to secure support.
The dependence on high-quality business models means that only excellent companies can receive support. This creates pressure for startups to invest significantly in innovation and implementation due to the high demand for quality.

Conclusion

In conclusion, the FTX crash has hit blockchain and cryptocurrency startups hard. However, AI has emerged as a new player in the venture capital funding arena, presenting opportunities for developers to create more open and transparent infrastructure. While obtaining growth capital remains a challenge, high-quality business models and proven track records are still rewarded.

FAQs

Q: What is the FTX crash?
A: The FTX crash refers to the market crash in the cryptocurrency market in May 2021.
Q: What is the role of venture capital firms in supporting startups?
A: Venture capital firms provide early-stage financial support to startups in exchange for equity. They often have a say in the company’s operations and growth strategy.
Q: How can AI be used to create a more transparent infrastructure?
A: AI can be used to create more transparent infrastructure by improving transparency and accountability, creating a fairer playing field, and solving regulatory compliance problems.
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