Multicoin Capital, a crypto investment company known for its multiple support Web3 When DeFi The project has announced a third $ 430 million venture fund.
Multicoin plans to use this money to invest in projects that are “ready to rebuild the large consumer market,” the company said in a shared announcement. Decryption..
Last year, Multicoin closed second $ 100 Million Venture Fund The main focus is on Web3 projects built on Solana Blockchain
Currently, the company has outlined some of the other areas that it says are most excited, such as projects that fit into the “Proof of Physical Work” investment treatise.
According to Multicoin, projects that fall into this category can be described as “motivating people to do verifiable work to build real infrastructure.”
The company pointed out the two most notable “proof of physical work” projects already in the portfolio, distributed wireless networks. helium Hivemapper, a Solana-based decentralized digital mapping network, adds that “there is growing interest in this area” and we are looking for projects that can “confuse existing industries with this model.”
Hivemapper encourages users to drive around through a camera mounted on the dashboard, record their surroundings and create a navigation map. Raise $ 18 Million Series A A round led by Multicoin in April this year.
Unauthorized data aggregation
Another area that Austin-based companies are paying attention to is the so-called Data DAO. It’s a decentralized entity that is based on “ideas that are mentally similar to proof of physical work,” but that focuses primarily on data rather than physical infrastructure.
Multicoin claims that when aggregated, there is a lot of fragmented data that is “more valuable than the sum of the parts.” However, collecting that data in bulk is not possible “because it is too confidential or personal, or because the aggregator is not subject to user governance.”
Investment companies say that encryption not only allows users to create stronger incentives for providing data and unauthorized data intermediaries, but also gives governance authority “many from the hands of a few people.” By moving it to our community, we believe it will help solve these problems. “
Other domains that Multicoin is considering using new funds include online platforms that use crypto for payments, DeFi apps, NFTAnd building social tokens, and crypto-native consumer products.
The company plans to continue to support this area as one of the most active investors in core Web3 infrastructure since 2018, adding that it will soon reveal some new projects in its portfolio.
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