TL; DR
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Venture capital money is starting to flow back into the Web3 space.
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In the long term, the larger and broader time horizon investments are made in Web3, the more likely the space will succeed.
Full story
*sniff*
Do you smell that?
That’s the smell of money flowing back into the Web3 space, baaaaby!
And we’re not talking about the money poured into Bitcoin, Ethereum, and Solana over the past week.
No! We are talking about venture capital (the lump sum bets on the future over a period of more than ten years).
For example:
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Web3 alternative to Google Drive, Filevers, just raised $1.5 million
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Web3 social network, Phaver, just raised $7 million.
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Web3 gaming company, Neon machine, just raised $20 million.
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Web3 security company, Blocking aid, just raised $33 million.
Now, over $60 million in total investments is still a stupidly low number on a global scale…
BUT! It’s exciting – this is why…
In the short term: the more new money comes in, the better:
→ Increased investments in blockchain companies…
→ Leads to more money being invested in cryptocurrencies…
→ Which leads to the crypto market as a whole rising…
→ Which results in all our portfolios growing in value…
→ Which leads us to drunkenly call our economics professor and ask:
“Hey Mr. Rowley, remember when you called Bitcoin a ‘fad’?
…and remember how you said that investing in it would guarantee I’d drive a Toyota Corolla for the rest of my life?
Yeah, well, I still drive a Corolla (what can I say, it runs great on gas)…
BUT! My Bitcoin investment did that doubled!“
Anyway, where were we? Oh right…
In the long term, the larger and broader time horizon investments are made in Web3, the more likely the space will succeed.