'Ownership in Web3 Needn't be Obtained Through Capital Contribution - Unhashed 28' by musharrafff web3 oct_network
Hi Emma! Welcome to Unhashed. What is your career story, how did you venture into the crypto space, and what led you to work on LongHash Ventures?
The Web3 revolution started in 2008 when Bitcoin was first invented. Since then, we’ve been through a few cycles of boom and bust, whereby each cycle brings in new innovation, more adoption and clearer understanding of what Web3 could be. So I wouldn’t call it a sudden surge of interest.Real use cases have emerged: Defi, GameFi, Metaverse, NFTs, etc. Each vertical has brought in a diverse set of users, investors, and stakeholders.
I don’t agree with Jack Dorsey’s view. Decentralization is a journey and I don’t think we are even close to the end. Compared to the Web2 model, where ownership of startups remains within a small circle of insiders until they become publicly listed, Web 3 model has given the retail and the community an incredible opportunity to participate and gain ownership of the projects that they use and like early on. And this ownership doesn’t have to be obtained through capital contribution.
We invested in >10 Polkadot/Substrate projects including Acala, Astar, Manta, Unique Network, Bit Country, Composable, and Zeitgeist We’ve also supported the Filecoin ecosystem in a similar way and now are looking to expand the relationship with the Cosmos ecosystem and a number of other upcoming protocols.
Speaking of compelling projects, what innovations do you think will define the transition towards web3 and a more open social and financial infrastructure? Disclaimer: The sole purpose of Unhashed is to unhash information about projects innovating using blockchain and cryptocurrencies and share it with the community. The
Crypto and Web3 startups drew nearly $32 billion in funding from the VC market last year. Can you explain this sudden surge of interest for the web3 space and what key factors do you think are driving VCs to invest in this space? Okay! A slightly controversial question here. Jack Dorsey, former CEO of Twitter, said last year that when VCs are involved, Web3 cannot truly belong to its users. What is your opinion on this?
At LongHash Ventures, we invest into the underlying protocol token, accelerate early stage projects and bootstrap the ecosystem. We actively participate in governance and take a long-term view to support the growth of the ecosystem.We invested in Polkadot’s private sale in 2019 and subsequently partnered with Parity to launch the first Polkadot accelerator
We have spoken at Polkadot events and hosted folks from the ecosystem at our accelerator in Singapore At this point, we are particularly interested in multi-chain infrastructure across the key verticals that we are bullish on, such as DeFi, GameFi, Metaverse, NFT and DAO. We also place a lot of focus on vision-driven founders.
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