Variant raises $450 million for web3 projects despite crypto winter

Each “crypto winter” is different from the last, but every winter—or what non-crypto people would call a bear market—has something in common: It gives rise to a new surge of innovation. That’s why Variant, an early stage crypto-focused fund, sees great opportunity in the current state of things, its co-founders Jesse Walden and Li Jin tell Fortune. “We feel like in the next three to five years, we’re going to see a wave of really high quality projects that then drive us towards mainstream [crypto] adoption,” Jin said. Jin and…