Most investors plan to abandon cryptocurrencies in favor of artificial intelligence

More than half of investors (52%) said that cryptocurrencies are not a priority for them this year. This is according to a study by Clarify Capital, a business lending firm. Overall, 71% of investors said they plan to invest in either technology (41%) or artificial intelligence (30%).

Despite the growth of the cryptocurrency market, the inflow of investments in digital assets has weakened significantly over the past month. According to DappRadar research, blockchain games attracted $ 739 million over the past quarter, which is 70% lower than last year, when they managed to raise $ 2.5 billion.

In general, projects related to metaverse have received about $ 214 million in revenue during the reporting period. In addition, companies developing infrastructure solutions raised $ 159 million. Investors allocated only $ 10 million to NFT projects.

Capital inflows to crypto funds also decreased. According to the results of the first quarter of 2023, investors invested only $ 2.4 billion, which is 80% lower than the historical maximum. In 2022, $ 12.3 billion was raised over the same period.

Cryptocurrency experts note that the current figures were affected by the crisis in the crypto market in 2022 and the first half of 2023 — the collapse of several banks in the United States last month, uncertainty around future monetary policy, and the high-profile bankruptcy of the FTX crypto exchange.