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.

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*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.