Original title: "Announcing Venture Fund III》

Original title: "

Original author: Multicoin Capital

Compilation of the original text: Runsheng & Hu Tao, Chain Catcher

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proof of physical work

proof of physical work

We call this topic "Physical Proof of Work". Protocols that fit this theme incentivize people to do verifiable work to build real-world infrastructure. Two of the most notable ones in our portfolio are Helium and Hivemapper. However, we are increasingly interested in this space, actively looking for projects that use this model to disrupt existing industries (eg, Web3 AirBnB, Uber, microgrids, etc.).

DataDAOs

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DataDAOs are similar in spirit to physical proof-of-work, but for data rather than physical infrastructure.

We recently invested in the first DataDAO - Delphia. Delphia is aggregating investor-contributed data to improve the trading algorithm, which gets smarter with each new investor and contributor (i.e. DAO).

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Creator Monetization

While creator monetization is not a new idea, its opportunities are actually just emerging as platforms and tracks mature. As we speak, prototypes of the next generation of creator monetization tools are being invented. Inventing the most efficient and profitable model is currently a global experiment, but once it takes shape, there will be millions of creators waiting on the sidelines to get into the game. The opportunity for creators to monetize will come slowly and then suddenly.

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consumer products

consumer products

We've invested in some consumer social products but haven't announced yet, we want to be the industry flag in terms of user experience and show the world how to build a world-class crypto-native consumer experience.

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A new business model for intellectual property cooperation

One of the most misunderstood superpowers of cryptocurrencies is the mechanism by which they enable new types of capital formation. Bitcoin pioneered it through mining, and since then there has been a wave of capital formation innovation: ICOs, airdrops, liquidity mining, NFT minting, Helium’s Proof of Coverage, and more.

Likewise, there are only a handful of major IP studios in the US today (Disney, Marvel, Comcast, Warner, Paramount, etc.). We expect the next wave of IP studios to be crypto-native and community-driven.

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Web3 infrastructure

We will continue to invest in core Web3 infrastructure, recent investments include Ceramic and Fluence, and some have not yet been shared.

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open finance

Open finance is one of our big crypto themes. Open Finance, often referred to as Decentralized Finance (or DeFi, which we consider a subset of Open Finance), is one of the most important areas of innovation in the crypto space. During 2018-2021, we saw the rise of the DeFi heyday and the explosion of innovation. Since then, the market has cooled, but certainly not gone. We are talking to founders every day, building new DeFi tools that either replace the status quo or create an entirely new category. Innovation is always at the forefront.

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India

India

Within our investment team, both Shayon and Vishal spend significant time in India, Dubai and adjacent markets.

We also believe that Indian entrepreneurs will be best equipped to design products that serve the local market and intend to make large investments in Indian Web3 startups like FanTiger.

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We are seeing early experiments at the intersection of cryptocurrencies and online communities around shared interests. Cryptocurrencies facilitate the formation of such communities due to the ability to tap into global pools of talent and capital. However, better coordinated infrastructure is needed to realize this vision at scale. We are actively watching this area, participating and investing in it.

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cooperate with us

While we have grown considerably over the past few years, the way we operate has not changed. We're still theme-driven and founder-first. Regardless of who leads an investment, every member of our investment team works directly with all companies in our portfolio. Our combined skills are the levers we deploy to help the best crypto ideas succeed.