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, which is why this year when we returned to New York for our 2022 Summit we decided to move up the Web3 stack and showcase a wide range of exciting new design patterns.
Our thesis is that these new consumer design patterns will inform where the next leaps in crypto-innovation will occur and therefore where the most important investment opportunities will emerge. We think these design patterns have the potential to create massive new markets and reshape others with crypto-native products specifically designed to improve the consumer experience.
While some of these ideas are future-gazing, many of them are already live or entering the market soon. For example, our Partner Matt Shapiro had the opportunity to interview Ben Leventhal, the founder of Resy and Eater, about his new venture, Blackbird, which exited stealth shortly after the summit. Below we also feature a talk from Andrew Peek, the CEO of Delphia, about Data DAOs and the future of finance as enabled by investor-contributed data. We also hear from Ian Krotinsky, the founder and CEO of Tiplink, about how he’s rebuilding digital asset transfer from the ground up, and from Mark Phillips, Vice President at Nova Labs, about the launch of Helium Mobile and people-powered telecom networks. A consumer-focused summit wouldn’t be complete without a discussion about social media, so we're also featuring a conversation with Dan Romero, the founder of Farcaster, to talk about his passion for communities and how social media is being re-built using Web3 primitives.
As always, we also include the keynote presentations from Kyle and Tushar about the evolution of these consumer design patterns and MEV as a new framework for valuing asset ledgers. I hope you enjoy these featured talks from the 2022 Multicoin Summit.
Consumer Crypto: Leading Edge Design Patterns
In this keynote presentation, Kyle Samani delivers a presentation on the leading-edge design patterns in consumer crypto. Over the course of 20 minutes, he traverses three major patterns that are emerging in markets: arbitrary, bi-directional value flow, credibly-neutral backends, and community-owned IP. These trends build on a presentation Kyle delivered last year on composability and is the spiritual successor to that thesis.
MEV as a Framework for Valuing Asset Ledgers
Tushar Jain also delivers a keynote presentation on major trends in MEV and the firm’s view that it can be used as a framework for valuing asset ledgers. MEV is a deeply misunderstood topic that often carries a negative connotation. The reality is that MEV is not new—it existed in tradfi before crypto—and versions of it are actually essential to the functioning of efficient markets, such as DeFi liquidations and price arbitrage. And now that the infrastructure has evolved, it can be used to better capture the value of L1’s.
Web3 and The New Age of Consumer Loyalty
Ben Leventhal needs little introduction. He’s the founder of Resy (acquired by American Express) and Eater (acquired by Vox Media), two products that have touched millions of users and left a profound impact on the hospitality industry. Ben joined our Partner Matt Shapiro to discuss his next audacious idea: Blackbird. Building on his experience, Blackbird is a new loyalty, membership, and payments technology company. Blackbird is developing products focused on creating software that establishes and enhances connectivity between restaurants and their guests. We get excited when crypto crosses the chasm and touches large, laggard industries that are ripe for disruption. This talk is a preview of what’s to come in Web3-enabled hospitality.
Building Social Graphs as Protocols, Not Companies
Since leaving Coinbase, Dan Romero has dedicated his life to studying the major trends and design patterns in social media. Now as the founder of Farcaster, he’s focused on building a new type of social media, one that is sufficiently-decentralized, deliberately verticalized, and decidedly open and flexible—aimed at creating an entirely new ecosystem of social media applications, not just the next killer app. This panel, moderated by Kyle Samani, is a great overview of social graph innovation, and an early look at how open social graphs will transform the next generation of social media applications.
HIP-51 And Helium Mobile
In this video Mark Phillips from Nova Labs shares the latest developments on the Helium Network and explores the implications of HIP-51, a proposal that evolved the network from a singular IoT network to a network-of-networks capable of coordinating several interrelated connectivity networks. He also speaks to Nova Lab’s recent announcement of Helium Mobile, the world's first cryptocarrier, and how people-powered hotspots can help accelerate the deployment of 5G infrastructure.
Reinventing Digital Asset Transfer With Tiplink
In this video Ian Krotinsky walks viewers through a demo of Tiplink. A TipLink is a link that is also a crypto wallet. Using Tiplinks, anyone can deposit and send any digital asset—such as NFTs, stablecoins, or Solana—to another person whether or not they already have a crypto wallet, which is not currently possible. Ian’s talk sheds light on the hidden friction in crypto and his mission to build the easiest way to send and receive digital assets with anyone.
Building Financialized Data DAOs With Delphia
Last but not least, we hear from Andrew Peek, the CEO of Delphia, to introduce the concept of Data DAOs and how they can be leveraged to unlock new data sources that were previously not possible. Over the course of 10 minutes, he walks you through an introduction to Delphia’s Data DAO model, the concept of investing data, and how he’s using the power of aligned incentives to generate alpha for investors.
If you enjoyed these videos and would like to watch more, all of our talks and presentations from previous summits can be found on our Youtube channel here.
Disclosure: Unless otherwise indicated, the views expressed in this post are solely those of the author(s) in their individual capacity and are not the views of Multicoin Capital Management, LLC or its affiliates (together with its affiliates, “Multicoin”). Certain information contained herein may have been obtained from third-party sources, including from portfolio companies of funds managed by Multicoin. Multicoin believes that the information provided is reliable but has not independently verified the non-material information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in this blog are subject to change without notice and may differ or be contrary to opinions expressed by others.
The content is provided for informational purposes only, and should not be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. The contents herein are not to be construed as legal, business, or tax advice. You should consult your own advisors for those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by Multicoin, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Multicoin is available here: https://multicoin.capital/portfolio/. Excluded from this list are investments that have not yet been announced (1) for strategic reasons (e.g., undisclosed positions in publicly traded digital assets) or (2) due to coordination with the development team or issuer on the timing and nature of public disclosure.
This blog does not constitute investment advice or an offer to sell or a solicitation of an offer to purchase any limited partner interests in any investment vehicle managed by Multicoin. An offer or solicitation of an investment in any Multicoin investment vehicle will only be made pursuant to an offering memorandum, limited partnership agreement and subscription documents, and only the information in such documents should be relied upon when making a decision to invest.
Past performance does not guarantee future results. There can be no guarantee that any Multicoin investment vehicle’s investment objectives will be achieved, and the investment results may vary substantially from year to year or even from month to month. As a result, an investor could lose all or a substantial amount of its investment. Investments or products referenced in this blog may not be suitable for you or any other party.