• About
Tuesday, August 16, 2022
No Result
View All Result
TrueDeFiNews
  • Home
  • Interviews
  • Home
  • Interviews
No Result
View All Result
TrueDeFiNews
No Result
View All Result
Home decentralized finance

Crypto-focused venture firm Variant bags $450 million to back Web3 and DeFi startups

by TrueDeFiNews
July 30, 2022
in decentralized finance
0
Crypto-focused venture firm Variant bags $450 million to back Web3 and DeFi startups
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

Venture firm Variant has doubled down on Web3 and decentralized finance startups when the crypto market faces a funding winter with an infusion of fresh $450 million. The fundraiser was led by general partners Li Jin, a16z alumni Jesse Walden, and Spencer Noon.

Variant is an early-stage crypto-focused investment fund founded by Andreessen Horowitz veterans will set up two funds from the new financing with a $150 million seed fund and a $300 million opportunity fund to support projects with demonstrated traction from its portfolio and beyond.

The crypto venture firm has backed well-known Web3 and crypto projects, including the decentralized crypto exchange Uniswap, decentralized nonfungible token marketplace Magic Eden and Ethereum scaling project Polygon. Last October, the firm launched a $110 million fund and a merger with Atelier Ventures. Following the merger, Variant brought on Atelier’s founder, Li Jin, as a partner investor.

The fund will specifically target DeFi projects, blockchain computing, consumer-oriented Web3 projects and new forms of ownership such as nonfungible tokens.

“What we have learned over the last few years has reinforced our thesis that user-owned networks grow bigger and faster than their traditional centralized counterparts, with more favorable economic terms for users. Beyond that, it has also shown that ownership is a vast design space, with different experiences ranging from participation in a community to financial exposure to governance,” said a statement released by Variant partners Li Jin, Spencer Noon and Jesse Walden.

The venture firm focuses on protocols addressing the financialization and productivity of NFTs; L1s, L2s, and L3s; cross-chain interoperability that enables apps with native Omni-chain product experiences; Web3 social networks that combine unique social and economic incentives; and new token economic models that coordinate user behaviors, such as X-to-earn and resource marketplaces.

“Tokens and NFTs enable net-new user experiences that satisfy diverse motivations and ‘jobs-to-be done,’ from control to belonging to financial alignment with everyday products. Ownership is a design space for new product features and experiences,” the firm explained.

Tags: budgetCryptocurrencyInvestmentNews
TrueDeFiNews

TrueDeFiNews

TrueDeFiNews is a one-stop platform offering intelligent, well-researched and engaging coverage of the crypto multiverse shaping up by the day.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Decentralized Finance DeFi

FinTech Collective Raises $250 Million in Capital for DeFi and Traditional FinTech

12 months ago
Polkadot-DOT-price-today

Polkadot (DOT) Gains Value Following Its Strengthened DeFi Options

12 months ago

Popular News

    Newsletter



    Category

    • Bitcoin
    • blockchain
    • Cryptocurrency
    • cryptography
    • Cryptowire
    • decentralized finance
    • facebook
    • Gaming
    • India
    • Interviews
    • metaverse
    • News
    • Opinion
    • RBI
    • Regulations
    • Scandal
    • UK
    • US

    About Us

    TrueDeFiNews is a one-stop platform offering intelligent, well-researched and engaging coverage of the crypto multiverse shaping up by the day.

    • About

    No Result
    View All Result
    • Home