2022 was a rough year for crypto. The indices we track fell a collective 64%, with Bitcoin and Ethereum – the largest coins by market cap – driving down the performance of the broader group. However, on a 2-year lookback, many "Utility Tokens" (which we define in our report) are still up 92%, reflecting investor confidence in the broader ecosystem – the complexity of which has only grown over recent years. NFTs had a particularly bad run in 2022, with secondary trading dropping 92% from Q2 to Q3. Many NFT "projects" turned out to be poorly orchestrated "games" at best, and outright scams at worst. The gaming market followed suit. Hundreds of game companies were built on the "Play-to-Earn" business model, catalyzed by Axie Infinity's surge to a $10BN company, followed by a historic crash as its imbalanced in-game economy collapsed.
© In the U.S., America’s Growth Capital, LLC dba AGC Partners, member FINRA/SIPC. In Europe, America’s Growth Capital Europe, LLP (Appointed Representative Alternatives St. James, LLP which is authorized and regulated by the Financial Conduct Authority). America’s Growth Capital Europe, LLP is a Limited Liability Partnership incorporated in England and Wales (OC368580). Its registered address is 6th Floor, 9 Appold Street, London EC2A 2AP. The testimonials contained herein may not be representative of the experience of other customers or clients. Testimonials are no guarantee of future performance or success. Deals marked with an “*” are non-AGC deals.
