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Meltem Demirors Profile picture
@Melt_Dem
Oct 7, 2021 • 7 tweets • 4 min read • Read on X
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1/ my lil' pudgy penguin fren is chatting w a @gmoneyNFT's @BoredApeYC. this NFT convo was recorded completely AI-to-AI.

this is a thread on the future of NFTs. pay close attention to what @real_alethea is doing right now …
2/ alethea is bringing NFTs from apes to punks to waifus to life in their Intelligent Metaverse known as Noah's Ark

... and they’re working on my 2D boyfriend next - can't wait to have pillow talk with sephiroth 🖤
3/ until my 2D bf arrives, i’ve been talking to my @EtherRock

imbuing my rock with a personality through AI, what could be better?
4/ can't forget about my lil' pudgy pengu - this one has my voice!

these characters are LIVE on the @real_alethea site, where you can interact with them. my pengu can now become as famous as a cameo.com celebrity, and send custom video messages to ur frenz 👩‍🚀
5/ my iNFT's also WORK FOR ME. my pengu and my rock make $ for me by providing their AI services!

whenever they have an interaction, I earn ALI credits

i have a 2D worker bee army, and soon i can rent out my 2D boyfriend too!
6/ and pretty soon, you'll be able to make your NFTs come to life...

on October 14th, keep your eyes on @real_alethea for an exclusive launch with @OpenSea.

let’s build this weird and wonderful world with our JPEGs!

SEIZE THE MEMES OF PRODUCTION!
disclosure: i'm an investor in @real_alethea via my personal holding company

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More from @Melt_Dem

Meltem Demirors Profile picture
May 2
1/ thoughts on the 100th GPU supply aggregation incentivized w a token protocol

everyone is aggregating supply but there is no demand

the dePIN angle only covers supply

but cost isn't the driving BUY factor for demand side...
2/ priorities for people sourcing GPU compute:
- availability
- security
- scalability
- cost

not a single compute buyer will choose a distributed clusterfuck with mediocre performance over hyperscalars or neoclouds
3/ don't believe me? the team at @SemiAnalysis_ (@dylan522p research firm, most widely read and cited semis / DC research) did a tear down

every distributed compute player is "underperforming" - most not even worth mentioning

semianalysis.com/2025/03/26/the…
Read 6 tweets
Meltem Demirors Profile picture
Apr 29
1/ @CrucibleCap Q1 VC report, sharing for those curious about the process of investing. we use @attio.

sourcing - we get a LOT of inbound, mostly on this site and LinkedIn. we only track investable deals in our mandate and valuation range. this is why we write / post! Image
2/ the number of deals through our pipeline has stayed pretty consistent quarter over quarter - we generally will do 1-2 meetings and then decide quickly if we want to dig in or not Image
3/ deal momentum is important - a lack of momentum can kill deals. i look at how efficient we are.

notably diligence and execution time was cut down 50% - this is due to better internal alignment and process handoffs between @itsanhonour_ @kellyjgreer and i Image
Read 6 tweets
Meltem Demirors Profile picture
Mar 25
1/ are we so back? not so fast

joined @sonalibasak and @timsteno for some lunchtime tea 🍵 on the latest in crypto markets

video here:

receipts below bloomberg.com/news/videos/20…Image
2/ first off - flows

its been a rough Q1 for ETFs flows

the sell off was driven by short term holders selling at a loss. let's see what comes out in the Q1 13F filings - our mercenaries may have been top buyers after all. love that for us! Image
Image
2/ we're in a rough spot

stocks below 200 dmas, indeces selling off, Bessent and Trump both fixated on forcing rates lower even if it costs the market

this is a relief bounce driven by retail buyers (they're a contrarian indicator) and algorithmic CTAs
Read 8 tweets
Meltem Demirors Profile picture
Mar 20
1/ quick slide rip from my @Blockworks_ DAS talk - Believe in Something

this is where it all began. everything we talked about ten years ago when we started building the world's first bitcoin investment firm has come to pass.

so why isn't bitcoin a million dollars? Image
2/ if we take out bitcoin and ethereum, this is the last five years of crypto markets

the names may have changed but the numbers haven't

this is a big problem. there's no growth. Image
3/ 2024 was propped up by two persistent bids - Microstrategy and Blackrock

but the buyers aren't missionaries, they're mercenaries

MSTR buyers are farming the convert arb
IBIT buyers are farming basis

6% of the bitcoin supply is in these two.

this is our black swan. Image
Read 16 tweets
Meltem Demirors Profile picture
Feb 11
1/ just wrapped my quarterly report for @CrucibleVC

our playbook is simple

as a GP, every quarter i quantify and qualify our ability to run this playbook. we double down on what works, experiment / re-visit with what isn't working.

let's dig into the data and tools👇 Image
2/ we use @attio to manage our pipeline

step one is analyzing the funnel - both raw #s and relative %s

with a small team, quality > quantity. low conversion % signals top of funnel is too broad. high conversion may signal you're not seeing enough deal flow. Image
@attio 3/ "customer experience" in the context of venture is largely based on responsiveness, so tracking time spent processing deal flow is an important metric

i'm pretty happy with our pacing. good to spend more time in later stages ensuring everything is ticked and tied. Image
Read 8 tweets
Meltem Demirors Profile picture
Jan 22
1/ gave a talk last week on "energy, compute, crypto" - the three pillars of the modern economy and the converge of three trillion dollar investment themes

sharing the slides and full deck - let's rip 👇
2/ compute rules capital markets

Nvidia was the big story in 2024, but Broadcom cracked the top 10 too and TSMC cemented its place alongside the rest of the Mag 7

expect 2025 to continue this trend as energy and compute carry capital markets Image
3/ while everyone was loading up on semiconductor names, energy had its own quiet rally

Vistra, an independent power producer, outperformed Nvidia and Bitcoin

this year, we'll see more focus on the US grid which is by far the greater bottleneck than GPUs Image
Read 22 tweets

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