The currently dire economic scene will cause no negative impact on blockchain growth, per Pantera Capital CEO Dan Morehead. 

Specifcially, during an interview for Real Vision, the venture capitalist reportedly shared his beliefs that blockchain technology will have an independent performance accordingly to its own fundamentals, without being affected by the conditions suggested by traditional risk metrics. 

“Like any disruptive thing, like Apple or Amazon stock, there are short periods of time where it’s correlated with the S&P 500 or whatever risk metric you want to use. But over the last 20 years, it’s done its own thing. And that’s what I think will happen with blockchain over the next ten years or whatever, it’s going to do its own thing based on its own fundamentals.” 

Within the the first six months of 2022, Pantera Capital reportedly reeled in approximately $1.3 billion in financial support for its blockchain fund, with a special highlight on scalability, DeFi and gaming initiatives. 

“We’ve been very focused on DeFi the last few years, it’s building a parallel financial system. Gaming is coming online now and we have a couple hundred million people using blockchain. There’s a lot of really cool gaming projects, and there still are a lot of opportunities in the scalability sector,” Morehead further remarked. 

Long-term optimism is at the other end of the spectrum versus the actual drop in venture capital in the sector, however. 

August figures reportedly suggested the fourth consecutive month-on-month plummet in capital to $1.36 billion. The inflows represent a 31.3% drop from July’s $1.98 billion, with 101 deals closed in August, on an average capital investment of $14.3 million — a 10.1% decline from July.

Bearish movements throughout the crypto market was expected to throw a rock into the consolidation pool of the sphere, but recent numbers from Crunchbase disclosed that only four deals with VC-backed crypto firms were concluded in America this quarter – a decline from the 16 transactions from the first quarter of the year.