Investing in Immersive Worlds

I don't think user generated content in a vacuum works well. Loot is a great example of this, where you literally have these NFTs that have some words on it, and it's like, go build a myth, the narrative, whatever you want to call it around this stuff. And you saw some early experimentation, but unless you have some more top down storytelling, as S... See more

ecause if you think about, if you unpack what does Web3 mean? And if it really boils down to the financialization of everything, there's three distinct buckets of it in my mind. There's a speculative sphere because you can now tokenize so many different things, the opportunity for markets and best execution and price discovery and all these things ... See more

how can we combine top down critical narratives and curation in what we think is an important art movement together with access to emerging artists and opportunities in a way that there is real investment value, precisely because they're undiscovered. And so our thinking there is to really try to create the MoMA for generative art by pairing some o... See more

So the question is, "What is the healthy version of this world?" And the healthy version of the world is one where you have marketplaces for virtual goods of all kinds, whether NFTs, in-game skins, membership tokens in communities, whatever. You have these concepts that you have in FX, like best execution and minimizing brokerage fees being put int... See more

Like the first question I ask myself on any token is, why would someone buy this? And it seems like such an obvious question, but in all the talk on play-to-earn, what you hear the most is some variant of, "Oh, it goes back to the Vitalik story, I wish I could have sold my sword in the game, I can't believe I didn't own my things." And that's all g... See more