Metta World Peace: NBA All-Star-Turned-Web3 Investor has this advice for entrepreneurs launching a startup

The opinions expressed by entrepreneurs contributors are their own.

If you're reading this, chances are you'll agree: starting a Web3 business sounds daunting and confusing. At least that's how I felt when I started funding my business with Web3 solutions for early stage crowdfunding. The learning curve seemed almost out of reach. My perspective changed, however, after sitting down with my friend Metta World Peace – yes, the former Lakers legend who won an NBA championship in 2010. He explained to me how his capital fund -billion dollar target risk Tru assesses its portfolio investments.

“There are two types of founders,” Metta told me, those who “have the experience and the education and then there are the founders who are the visionaries who know exactly where they want to be.” The founders he seeks to invest in, he says, take calculated risks. "You want to take it step by step, make sure you're building a good product, test it before you spend too much money building the wrong technology architecture, and be careful not to waste your investment money because I have seen so many people lose so much money so fast."

A calculated approach is much needed in today's volatile market. Despite crypto exchange FTX's recent bankruptcy filing, entrepreneurs are building and innovating in the industry - and why not? The global blockchain market is still expected to be valued at around $67 billion by 2026 according to recent research from Cornell University. Even though Bitcoin is falling, the total crypto market capitalization stands at around $900 billion and hundreds of Web3 projects have raised billions of dollars in funding. Despite the uncertain economic situation, Metta still sees opportunities in this emerging and growing market and is therefore investing in blockchain technology projects today.

However, not everyone sees it that way: venture capital investments have fallen by half. This is why many entrepreneurs are turning to other funding options in addition to raising venture capital.

Have you ever invested in a traditional startup or even a crypto startup? Investing in new cryptocurrency projects is very accessible. Too easy, some would say, so be very careful when using these products. There are many new scam schemes in this industry, so be sure to do your own research before you lose money trying to do so.

On the other hand, it may be easier to raise funds for yourself using crowdfunding tools than through a traditional financial framework. "Using crowdfunding tools is a new way for founders to raise funds. It's appealing to founders who don't have ties to investors, angels or venture capitalists," said Metta explained. In Silicon Valley, for example, raising funds from cold emails can be a challenge and often requires a relationship with an investor to get your foot in the door. When you consider the hurdles and hurdles you need to overcome to meet investors without a pre-existing network, in addition to the legal paperwork that goes into term sheets, it can be very complicated to navigate the world of venture capital. So many founders are turning to crowdfunding as an alternative or supplement to venture capital.

Metta World Peace understands how important crowdsourcing staff is...