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jkey.eth (🦁,⚡️) Profile picture
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Jan 23 • 11 tweets • 11 min read
1/10 #CryptoVC is murky to outsiders.

New funds pop up all the time.

Rounds close at lightning speed.

Some founders now avoid VCs, aiming for networks of angels or #DAOs.

Summary of Crypto Venture Capital: A Bird’s Eye View by @cryptovcdylan of @BlockchainAG for @scribeDAO ⬇️
2/10 There are 3 categories of crypto VCs:

- Brand Funds: Everyone knows them. Big shot investors.

- Specific Value Add: Formidable due to key expertise.

- All Purpose Service: Full-stack VCs, typically incubators & accelerators. Image
3/10 First, the crypto mafia:

1) @blockchaincap: OG fund w/ one of the largest AUMs

2) @PanteraCapital: Famed macro-investor-turned-early-crypto @dan_pantera

3) @fenbushi: Billions in AUM w/ superstar young partners

4) @DCGco: Led by @BarrySilbert, oldest & most storied firm
4/10 Mafia ➡️ Specific value add:

@paradigm: Raised largest crypto fund. Unparalleled technical expertise.

@a16z: Top media / PR machine crypto fund.

@paraficapital: DeFi-focused, high gov participation; new activist investor.

@multicoincap: Contrarian positions that work out
5/10 Specific Value Add VCs:

@ElectricCapital: Publishes amazing research used by devs & investors alike.

@variantfund: Web3 & creator economy focus.

@NewTribeCap: Known for ML tech & best-in-class at sourcing deals.
6/10 Specific value add funders can range in structure:

- DeFi liquidity providers/market makers e.g. @GSR_io, @cmsholdings

- DAOs: @KomorebiFund (funding for female & non-binary founders)

- Family Offices: @KeneticCapital @HOFCapital

- Design firm: @IDEOVC
7/10 Silo specific funds include:

NFTs: @Sfermion_, @wave_financial, @Collab_Currency

Metaverse: @HelloMetaversal, @Gemini, @glxydotgg

Ecosystems: @hypersphere_ (Polkadot), @tendermintHQ (Cosmos), @SolanaFndn (Solana)
8/10 All purpose funds:

Some start as incubators & then fund e.g. @Delphi_Digital

Others are DAOs providing funding & full-stack services for governance, tokenomics, & content e.g. @YuntCapital, @0x_Ventures, @neworderDAO

@BlockchainAG: DeFi & crypto infra company builder.
9/10 That's all for today!

If you want more article breakdowns just like this...

Follow me (@jkey_eth) to get a daily #web3 thread in your feed😊
10/10 TLDR:

Beyond the brand name "mafia" of crypto VCs, new funders & funding vehicles are emerging.

There are those providing specific expertise on topics like web3, creator economy, DeFi, and the metaverse.

Others provide full-stack services from funding to support.
full article by @cryptovcdylan of @BlockchainAG:
bit.ly/3KA2Ze3

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More from @jkey_eth

jkey.eth (🦁,⚡️) Profile picture
Feb 12
1/12 As web3 becomes more mainstream, web3 social has emerged.

Humans are tribal.

The desire to connect & form communities is in our DNA.

Web3 social is a new user-centric model.

Summarizing Web3 Social Landscape by @tomscaria & @natasha__iman of @prysm_xyz for @scribeDAO👇
2/12 In web3 social, users own their identities, data, and the content they create for apps and protocols.

It's a springboard into DAOs, platform-less social networks.

It's a new social media era where users own the networks and create positive externalities for non-users.
3/12 Humans are aggregating identity in their wallets via NFTs, social club memberships, and more.

This data is publicly available and owned by the user.

Developers harness this data to build social graphs & reputation systems that form the connective tissue of web3 social apps
Read 13 tweets
jkey.eth (🦁,⚡️) Profile picture
Feb 10
1/23 How do you go-to-market in web3?

Web2 & web3 orgs differ on goals, growth, & success metrics.

You start with a clear purpose, grow community around that purpose, & match incentives accordingly.

Summarizing GTM in Web3 by @meigga of @a16z for @scribeDAO & @SafaryDAO👇
2/23 In web2, organizations are structured with centralized leadership making the decisions.

The majority of value is accrued by platforms, rather than users.

The go-to-market (GTM) strategy focuses on generating leads & acquiring and retaining customers via sales & marketing.
3/23 Traditional web2 GTM customer acquisition strategies include:

- pricing
- marketing
- partnerships
- sales channel mapping
- Salesforce optimization

Success metrics include time-to-close a lead, website click-through rate, revenue per customer, and more. Image
Read 24 tweets
jkey.eth (🦁,⚡️) Profile picture
Feb 9
1/9 Most DAO treasuries hold 90% in their native token.

This shows conviction in their future, yet poses risks.

DAOs must diversify treasuries via community-run partnerships.

Summarizing DAO Strategic Partnerships by @0xjosh_ & @DMSchlabach of @llamacommunity_ for @scribeDAO👇
2/9 DAOs must diversify their treasury.

Having 90%+ in native tokens is both dangerous & inefficient.

DAOs should have 1-2 years worth of operating expenses in stable coins.

It's a win-win: gain stables to pay contributors & distribute native tokens to further their mission.
3/9 Diversifying the DAO treasury helps:

- Lower treasury risk & volatility

- Operate from a position of strength in a market downturn

- Have a stable & predictable funding source for innovation & ops

- Lower operational costs

- Put tokens in the hands of long-term partners
Read 10 tweets
jkey.eth (🦁,⚡️) Profile picture
Jan 18
1/12 #Airdrops are among the most effective #web3 growth strategies for new projects.

If you provide new members ownership, a tribe, vision, and status, they'll help you grow the project.

A summary of How to Make Airdrops That Go Viral by @CDTEliot of @CoinviseCo for @ScribeDAO
2/12 An airdrop is a token distribution to multiple crypto wallet addresses.

There are two types:

- Raising Awareness: Early stage, when a community launches and wants to bring on new members.

- Exit to the Community: Later stage, when a community wants to decentralize power.
3/12 In web3, the growth funnel looks like:

- Awareness: Hear about the project
- Acquisition: Join the Discord to learn more
- Activation: Become a contributor
- Retention: Continue contributing
- Referral: Evangelize the project
- Revenue: Become an owner
Read 12 tweets
jkey.eth (🦁,⚡️) Profile picture
Jan 18
1/15 #Web3 needs a new growth playbook.

There's no App Store, most users are pseudonymous, & no way to contact them.

Web3 growth will be defined by integrations, community, liquidity mining, & tokenomics.

A summary of The Web3 Growth Playbook by @lattice_fund for @ScribeDAO ⬇️
2/15 Web3 apps face three foundational challenges:

1) Identity: Vast majority of on-chain activity is pseudonymous.

2) Communication: Web2 channels like email, push notifications, & ads don't yet exist.

3) Platform limits: Web3 is constrained to crypto wallet users (~25M).
3/15 Web2 growth strategies assume potential customer identities are known.

Viral growth occurs on platforms with social graphs based on IRL identity.

Identity helps build target profiles.

Web3 breaks these assumptions as the majority of on-chain activity is pseudonymous.
Read 14 tweets

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