TL;DR
Galaxy Ventures, is putting a chunk of its $113M fund into financialized applications, which we’re hoping starts a trend leading away from building infrastructure, and towards blockchain apps.
Full Story
Galaxy Ventures, just raised $113M to invest in early-stage companies building crypto protocols, software infrastructure, and financialized applications.
That’s not a whole lot in the grand scheme of things, but the last two words of that announcement are getting us excited.
Over the past year or so, most funds/VC’s have been heavily focused on investing in infrastructure plays, while blockchain apps have gotten the cold shoulder.
Which stinks, cause the blockchain space currently has more infrastructure than it knows what to do with — and very few apps.
It’s kind of like having an internet connection without any websites to visit.
(Please, for the love of god, we need something to do with our crypto outside of staking).
Here’s why these two words being included in the fund’s press release are something worth getting excited about:
It takes big names to shift a trend in the investing world, and Mike Novogratz’s Galaxy Asset Management is one of the most respected names in the space.
Godspeed, Mikey boy.
Godspeed.
Conclusion
We are hopeful that Galaxy Ventures’ move towards investing in financialized applications marks a turning point in the industry, steering focus away from mere infrastructure development towards the creation of innovative blockchain apps. With the backing of influential figures like Mike Novogratz, this shift could pave the way for a more diverse and impactful crypto landscape. As the industry continues to evolve, it’s crucial for investment decisions to align with the needs of the market, and we are excited to see where this new direction leads us.
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