Our Investment in Seed Club Ventures, a Venture DAO
Today, we are proud to announce our investment in Seed Club Ventures (SCV), a $25M venture DAO that invests in internet-native organizations, alongside Delphi Digital, Dragonfly Capital, Collab+Currency, SV Angel, Distributed Global, and others. SCV will be exclusively focused on early stage teams building communities, infrastructure and applications that leverage Web3 primitives to accelerate financial and human capital coordination to achieve their missions.
New Investment Partners at Multicoin
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Today I’d like to announce that two of our longest standing members of our investment team, Spencer Applebaum (LinkedIn, Twitter) and Shayon Sengupta (LinkedIn, Twitter), have been promoted to Investment Partner. Both of them have done great work in finding lucrative trades in public markets, and in sourcing and winning competitive deals in private markets. But most importantly, both have also worked closely with many of our founders over the past several years to help them succeed.
Onboarding The Next Billion Users To Crypto Rails
Today, we’re announcing we co-led TipLink’s $6M seed round with Sequoia. Our colleagues from Circle Ventures, Solana Ventures, Paxos, Asymmetric, Big Brain Ventures, Karatage and Monke Ventures also participated in the round. Nick Grossman wrote a thesis we’re fond of called The Butter Thesis which he defines as interactions and experiences that are super smooth—rich, easy, delicious.
Full Stack, Decentralized Security
The design space of cyber security is vast. There are an infinite number of attack vectors across chips and instruction sets, operating systems, runtimes, and applications. And naturally, there are many large cybersecurity companies. When I first got into Ethereum in 2016, the only real cybersecurity companies were smart contract auditors. Human audits have been and always will be paramount. However, human audits are not enough.
The Web3 Growth Stack
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We’ve become increasingly interested in a category of innovation that we’re internally calling the Web3 Growth Stack—i.e., the tools that product managers and marketers use to acquire, engage and retain customers using Web3 technologies. In Web2, the growth stack consists of a plethora of tools, platforms, and analytics systems designed to help product and marketing leaders augment growth.
Unlocking Payments Over Crypto Rails
Since the advent of Bitcoin, people have been talking about the inevitability of crypto-based payments. And yet, 13 years since the launch of Bitcoin, payments over crypto rails have not yet entered mainstream consciousness. Why have crypto payments struggled? And why is that changing now?
Watch Videos From The 2022 Multicoin Summit
This year we celebrated our fifth anniversary as a firm. Over that time, we’ve watched carefully as the industry has evolved and built step-function improvements to scaling, indexing, data modeling, wallets, and more. Core infrastructure has occupied the minds of builders for years; however, that’s now starting to change. New consumer applications—like games, social media, creator platforms, consumer loyalty, and more—are starting to appear.
Value Flows in the MEV Ecosystem
Miner Extractable Value (MEV) is fundamental to permissionless distributed systems and cannot be eliminated. The market structure for MEV is dynamic and complex, but the actors that profit from them in proof-of-work (PoW) networks—such as Ethereum 1.0—have exclusively been miners and searchers.
Mercury: Reimagining the Collegiate Fan Experience
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Today I’m excited to announce that Multicoin Capital has led a $7.5M seed investment in Mercury with participation from North Island Ventures, Crosslink Capital, Brevan Howard Digital, and several others. The convergence of sports and crypto is one of the most exciting, fast-growing areas of the market with strong, early successes in companies like Sorare and NBA Top Shot. Both have onboarded countless new users into crypto.
Announcing Venture Fund III
Today we are excited to announce our latest venture fund, Venture Fund III, a $430M fund that invests $500K-$25M in early-stage opportunities all the way up to $100M+ for later-stage projects when combined with our evergreen liquid fund.
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