compute markets @Architect_Fi | prev @PanteraCapital
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I’m excited to share that I’ve joined the Investment team @PanteraCapital
DMs open if you're raising (or not)!
panteracapital.com/blog-join…
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Fully onchain game engines are complex engineering marvels. I tried to deconstruct some of their superpowers and how they will turn into full networks as more games, plugins and communities! 👇
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Marriage of NFTs x DeFi is inevitable - here’s an article I wrote about what’s going on the market. Sharing my learnings here 🧵 link.medium.com/6t2kWVwhRgb
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BTC L2 with real stablecoin activity = PMF.
Most of the OG BTC projects have ~$100M+ in TVL but barely any stablecoin volume even though the BTC lending markets are mature.
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We're actively deploying across all sectors in crypto and across multiple stages (early to late). If you're building something new and novel - reach out! Looking forward to working with the entire Pantera team
@FranklinBi
@veradittakit
@lstephanian
@Ryan__Barney
@masonnystrom
@nihal_maunder
@cosmo_jiang
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4/ MUD v2 is the OG, battle-tested & go-to choice for EVM games. Dojo is the only provable game engine. Argus is ambitious & across the entire "stack" but emphasises itself as a content studio >> infra. Curio is an experiment to open source engine & attract devs in their AW.
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2/ "The Stack" - a) the blockchain (settlement), (b) the engine, (c) the module / plugin market by 3rd party devs, (d) the AWs / Games & (e) the emerging player daos, smart contract bots, trading partners, & speculators.
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1/ We compiled some of the firsts in the AW track - game engine, game and player guilds. We've also tried to think about some of the leading challenges for this direction which is constantly evolving.
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6/ Special thanks to @sylvechv @tarrence @5p0rt5BEArD @kzdagoof @_alvarius @Kooshaba for their valuable feedback & comments that helped shape this article!
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The Indian ecosystem (illustration) is growing faster than this map can capture.
@socketdottech @huddle01_ @labs_electron @YGGIndia @Chingari_IN @unmarshal @ClayStack_HQ @routerprotocol @TimeswapLabs @InfiniteB42 @MANTRADAO
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imagine gpt3 converting your command center discussion into a playable strategy for your space conquest game
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3/ The key challenges in onchain game development were:
- network congestion
- slow blockchains (i.e. laggy game experience)
- cumbersome devX
game engines (@latticexyz @dojostarknet @ArgusLabs_ @0xcurio) & RaaS (@Calderaxyz @conduitxyz) like
together solve these problems.
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5/ All of these engines are ahead of the market (to varying degrees) but it doesn't mean new entrants with proprietary game engines can't enter the market either. @topology_gg @PlaymintUK
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wen raychain solana network extension?
sol 30d dex volume > eth and eth l2 dex volumes
>50% sol dex volume is from memecoins since aug; 2% from @pumpdotfum
goes to show owing frontend & user relationship goes a long way.
ALT https://defillama.com/dexs/chains
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India 🇮🇳started its journey to a livelier public & crypto market in 2021.
- New liquidity worth US$963B added to the market
- SENSEX 30 & NIFTY 500 hitting ATHs
- 5.6% of population has demat (read trading) account
- 14M crypto users on CoinSwitch
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@IOSGVC is hiring Investment Associate / Principal in Bangalore, India (open to other cities too!).
JD link here: bit.ly/3wmk9GM
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NFT article-link thread
1/ what is an NFT? medium.com/iosg-ventures/wha…
2/ NFT tech stack
medium.com/iosg-ventures/nft…
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1a/solving liquidity in NFT: Indexing platforms @NFTX_ & @NiftyMuseum create funds for single/multi-collection exposure. Depositors can mint ERC20 tokens (1:1 or 1:100) which can then be used to provide liquidity & collect trading fees or trade/hold the token
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1b/ solving liquidity in NFT: fractionalizaton platforms like the fair-launched @uniclyNFT by @0xLeia, @fractional_art by @andy8052 and @NIFTEX provide flexibility to vault owners to select total ERC20 token supply per vault + governance to fraction-holders.
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3/ pricing an NFT: index funds and fractionalization platform offer liquidity to NFT + market-based price discovery. Appraising platforms seek to provide fair valuations via predictions market. @UpshotHQ has worked with Unicly in appraising their NFT vaults!
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Tech + commercial co-founders is the best combo in my experience. Each co-founder an expert in their own field but also willing to learn the ropes/challenges of the other.
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5) Besides the technological & philosophical advances & difference in crypto, founders building Web3.0 primitives are building projects that are - a) Scalable from Day 1 & b) building for the 68.24M wallet hodlers (& growing). They are not bound by geographical restraints.
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Been seeing this phenomenon for a while now. In Crypto VC it’s much worse
"Playing Different Games, or why Tiger is eating your lunch"
randle.substack.com/p/playin…
Feels like Tiger has been top-of-mind for everyone these last few months -- this is my attempt at an explanation for what's been going on, and why I'm very bullish on Tiger Global
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6/ some other amazing projects/progress made in the space includes: @centrifuge @BreederDodo with their DODO NFT platform @RulerProtocol accepting $PUNK-BASIC & $MASK as collateral
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6/ And lastly some of the key challenges will be technical, player onboarding (w/o compromising security) and designing sustainable economics for an AW.
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5/ Emerging ecosystems, game studios and game development infrastructure includes @dojostarknet @topology_gg @PlaymintUK @ArgusLabs_ @LootRealms @0xcurio @matchbox_dao @skylabHQ @giantleapgg @movingcastles_ @0xhank & so many more.
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4) Today there is a 3rd wave of technology known as Web3.0 - crypto and blockchain sit at the heart of this wave. Crypto is becoming mainstream with the rise of DeFi (financial inclusion), NFTs (creator economy) and CBDCs (government recognised)
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h/t @mikojava for the conversation that inspired this article + basis for player framework.
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Great primer on macros of DeFi - by @wef discussing associated risks with defi protocols, the things done well and a proposed framework for policy makers. For those just starting out would, recommend reading appendix 2 & 3 summary weforum.org/docs/WEF_DeFi_Po…
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4/ lending my NFTs: @nftfi and @Pawn_Fi have created p2p lending marketplaces that allowing users to lend against their NFT. To address fair valuation/ default risks, PawnFi uses an in-built appraisal system to de-risk this. Unicly users can participate in lending soon too!
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Yeah, guess it becomes a whole more active when the parachain leasing offerings begin :)
more info:huobiglobal.zendesk.com/hc/e…
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What else can we expect in NFT Fi? Article below.
We believe that the #NFT financialization space is early but ripe. What do we need to make NFT-Fi go mainstream then? To answer this question, check out our fresh out of the oven insight 👇:
medium.com/iosg-ventures/wha…
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@coinmetrics released the latest state of the network issue #137 and discussed airdrops in crypto
# of wallets participating in airdrops: SOS > UNI > ENS > 1inch
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Liquidity fragmentation across NFT marketplaces & exchange is @genie_xyz @vasa_develop opportunity. 🚀
With less than 30 pre-beta users, in a password protected website, @genie_xyz has produced $8,300 in marketplace fees for @opensea. That’s $500,000 annualized from just 29 users.
Aggregators make markets more efficient and highlight the market leaders.
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Automating @UpshotHQ ‘s DMI mechanism for frequent NFT appraisals could be an interesting price discovery mechanism which is far more continuous! This is something that could potentially be built on top of upshot - however will require a free flow of rewards pool @SablierHQ
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@momir_amidzic wrote a great article on fair launch
medium.com/iosg-ventures/fai…
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5/ Why social tokens? Social tokens are fungible gateways for creators to engage with their communities without the need for the community member to spend 3 ETH on an NFT and partake in the community.
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3/ 1st Game - @darkforest_eth is a MMORTS space conquest game. It's a persistent world (aka autonomous world) & was launched in 2020 on Ropsten. Since launch, they've had 10k players participate in their rounds with trillions of gas used across Ropsten and @gnosischain
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something to be said about shortening feedback loops through discord chat. Would love to read smth on designing games in web3
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6/ In RollV2.0 creators can expect decentralization of the platform, flexible token minting, cheaper minting process and lastly a surprise feature! Will let @tryrollhq announce that one 😉
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6) Hence, my decision in moving from traditional VC to crypto VC @IOSGVC . A brilliant group of investors, operators and buidlers who are investing in ambitious projects across the globe and helping projects overcome challenges that localization presents in community-building!
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3) The next decade saw a rise of some of today's top VCs investing in ambitious and almost insane products and founders (ex: Sequoia, Kleiner Perkins, Greylock). They invested in the Web 2.0 software and hardware.
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7/ the 1st @Uniswap V3 LP token NFT being fractionalized on @uniclyNFT. @StaniKulechov announcing @AaveAave @aavegotchi will accept NFTs as collateral.
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5/ current bottlenecks: restricted liquidity- 1) taking large positions is impossible to exit; 2)unreliable pricing of NFTs - although over time we hope to see more progress in this and 3) lastly l2 scaling. Most projects are integrating with @0xPolygon to overcome this.
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Absolutely bonkers. 🤯The banking system in emerging markets is flawed and patch-up solutions don’t solve fundamental problems. Crypto’s promise of financial inclusion in this case came in form of @AxieInfinity 💫
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combination of myriad of things come to mind
- a lot of it isn't true transacting tvl or user deposits
- people don't want to bridge btc (esp w/ all the bridge hacks of 2022-23)
- centralized btc lending markets are quite active
- no reason to build out an engaging defi stack on BTC yet (aka limited yield)
- very few BTC-native assets before ordinals, runes & brc20s until now
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Disclaimer: kudos to the founders who are working on products that are domain specific and solving localized problems!
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2/ @Bradley_Miles_ & @sidkal have been fantastic founders - they've been through the highs and lows but with each setback they remained true to their mission & continued soldiering on and building.
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4/ 1st Player Guilds - @orden_gg @d_fdao are known rival guilds in the DF universal. DFDAO even built Astral Colossus - a bot player in hopes to rank higher in the leaderboard.
astralcolossus.xyz/
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2) In 1957, ARDC invested in their major tech startup DEC (Digital Equipment Corporation) that produced and sold minicomputers, software and other peripherals. ARDC's 700k investment was valued at 38M after DEC's IPO in 1968.
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