American - Businessman | -
We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether. The importance of this cannot be overstated - in this new world, there are no companies, just protocols.
Olaf Carlson-Wee
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Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can directly monetize their open-source network.
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This is unproven technology, and if you don't know what you're doing, you shouldn't interact with tokens - from an investor and security perspective.
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If you want to buy $10 of Ethereum and poke around with smart contracts, I encourage that. But use it as a technology, not as an investment, unless you know what you're doing.
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It's like the American democratic system. When you vote, even if your candidate doesn't win, you accept that democracy was in action. When people participate in a Tezos network, they're accepting that the democratic vote of the other coin holders will govern the way the protocol moves.
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If the Numerai fund performs well, that should lead to more assets under management, which should lead to more revenue for Numerai's general partner, which should lead to higher payouts for the data scientists, which implies a higher Numeraire valuation.
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Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens or digital assets, and those include assets that people are familiar with, like bitcoin and ethereum, as well as very early-stage projects.
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VCs are used to being the gatekeepers of capital. There's this old narrative of entrepreneurs going hat in hand begging VCs for money. That absolutely is not the world we're in anymore.
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