A different kind of money is returning to crypto...
(hint)
TL;DR
Venture Capital money is starting to flow back into the Web3 space.
In the long term: the more large scale, broad time horizon investments that are made in Web3, the higher the likelihood of the space succeeding.
Full Story
*sniff*
You smell that?
That's the smell of money flowing back into the Web3 space, baaaaby!
And we're not talking about the money that's been poured into Bitcoin, Ethereum, and Solana over the past week or so.
Nope! We're talking about venture capital (the 10 year+ lump-sum bets on the future).
For example:
Web3 alternative to Google Drive, Fileverse, just raised $1.5M
Web3 social network, Phaver, just raised $7M.
Web3 gaming company, Neon Machine, just raised $20M.
Web3 security firm, Blockaid, just raised $33M.
Now, $60M+ of total investments is still a stupidly low number on a global scale...
BUT! It's exciting all the same - here's why...
In the short term: the more new money entering the space, the better:
→ Increased investment in blockchain companies...
→ Leads to more money being invested into cryptocurrencies...
→ Which leads to the crypto market rising as whole...
→ Which leads to all of our portfolios growing in value...
→ Which leads to us drunk dialing our economics professor and asking:
"Hey Mr. Rowley, remember when you called Bitcoin a 'fad'?
...and remember how you said an investment in it would guarantee that I'd drive a Toyota Corolla for the rest of my life?
Yeah, well - I'm still driving a Corolla (what can I say, it gets great gas mileage)...
BUT! My Bitcoin investment has doubled!"
Anyways, where were we? Oh right...
In the long term: the more large scale, broad time horizon investments that are made in Web3, the higher the likelihood of the space succeeding.