Quote from Ndubuisi Ekekwe on January 3, 2023, 2:16 PM

Web3 investment becomes harder these days.  "While there are compelling values out there in web3, I am not convinced that it is safe to go back into the water just yet unless you have a very strong stomach and a very long time horizon," said Union Square Ventures’ Fred Wilson in a Jan. 1 blog post.

"There are entities that are insolvent but have not been restructured," Wilson said. "There are funds that are so far under water that they may be forced to liquidate. These kinds of activities will produce ongoing sell pressure on web3 tokens for at least the first quarter of 2023 and maybe for much longer."