Blockchain firm Oasis Pro recently announced a change in its executive leadership team as part of its strategy to attract additional funding. Alana Ackerson has been appointed as the president of Oasis, bringing with her a wealth of expertise in developing and growing innovative financial technology businesses. Previously, Ackerson co-founded Figure Technologies and Provenance Blockchain.
With the goal of expanding its capital and customer base, Oasis is also planning a series of funding rounds. However, this decision seems to go against prevailing market trends, as funding in the blockchain sector has been declining since 2022 due to various factors such as the collapse of FTX, Federal Reserve interest rate hikes, and uncertain market conditions. Nevertheless, Oasis is hopeful that Ackerson’s appointment and her connections in the industry will help attract more investors to support the firm.
According to Crunchbase data, funding for Web3 businesses, including those in the cryptocurrency and blockchain industries, decreased by 74% in 2023 compared to the previous year. Despite this decline, the market for blockchain technology is expected to rebound in the future. In 2021, the global market for blockchain technology was valued at $5.85 billion, and it is projected to reach $1,235.71 billion by 2030, growing at an annual compounded rate of 82.8%.
The adoption of blockchain technology in various sectors, such as e-identity, healthcare, electric vehicles, and education, has the potential to boost investor sentiment and contribute to the overall growth of the market. Although the blockchain market has experienced a slowdown in investment recently, optimism remains high about the potential of the startup ecosystem in this space.