The crypto venture capital landscape is heating back up after a number of weak quarters amid talk of a potential market recovery.

Investors are getting back in the groove of investing in web3, crypto and blockchain technology, said John Nahas, VP of business development at Ava Labs. “The renewed focus is on real-world use cases, infrastructure, and practical solutions rather than the more abstract, trendy projects of the past.”

In the third quarter, the crypto space saw $1.8 billion invested across 309 deals, according to a new PitchBook report. That’s a 28.3% decrease from the previous quarter, marking the “most subdued activity since late 2020” and a sixth straight quarter of decline in the value of venture capital investment into web3 companies.

Source @TechCrunch