FTX CEO and Solana Co-Founder Offer Advice for Building Web3 Ecosystems
FTX CEO Sam Bankman-Fried and Solana co-founder Anatoly Yakovenko shared valuable insight for founders of Web3 in the start-up phase during a virtual summit.
Event Summary
The blockchain ecosystem is constantly changing, but there always seems to be one dominant global sector at any given time. For example, decentralized finance (DeFi) projects received an impressive amount of venture capital funding in 2021, making it the most invested sector last year. The results further show that non-fungible tokens (NFTs) were the second most invested sector, while web3 and infrastructure ranked third.
Now, Web3 is proving to be the most sought-after investment sector in the blockchain industry. New findings from Cointelegraph Research confirm this, showing that Web3 captured around 42% of all individual transactions during the second quarter of this year, while DeFi came a distant second at 16%. The growing interest in Web3 also became evident when venture capital giants like Andreessen Horowitz (a16z) closed billion dollar funds dedicated to investing in Web3 projects.
Web3 has also caught the eye of Wing Venture Capital, a Silicon Valley-based investment firm specializing in tech start-ups. Wing recently hosted a virtual Web3 Builders Summit with Sam Bankman-Fried, CEO of FTX, and Anatoly Yakovenko, co-founder of Solana, to help early-stage founders better understand best practices for building Web3 ecosystems. /p>
Zach DeWitt, partner at Wing and host of the summit, told Cointelegraph that the company has been investing in Web3 since 2017 but structurally there is more capital dedicated to the sector than ever before. “The best time to invest is historically in bear markets. Prices are down and tourists are scared,” he said.
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FTX CEO Sam Bankman-Fried and Solana co-founder Anatoly Yakovenko shared valuable insight for founders of Web3 in the start-up phase during a virtual summit.
Event Summary
The blockchain ecosystem is constantly changing, but there always seems to be one dominant global sector at any given time. For example, decentralized finance (DeFi) projects received an impressive amount of venture capital funding in 2021, making it the most invested sector last year. The results further show that non-fungible tokens (NFTs) were the second most invested sector, while web3 and infrastructure ranked third.
Now, Web3 is proving to be the most sought-after investment sector in the blockchain industry. New findings from Cointelegraph Research confirm this, showing that Web3 captured around 42% of all individual transactions during the second quarter of this year, while DeFi came a distant second at 16%. The growing interest in Web3 also became evident when venture capital giants like Andreessen Horowitz (a16z) closed billion dollar funds dedicated to investing in Web3 projects.
Web3 has also caught the eye of Wing Venture Capital, a Silicon Valley-based investment firm specializing in tech start-ups. Wing recently hosted a virtual Web3 Builders Summit with Sam Bankman-Fried, CEO of FTX, and Anatoly Yakovenko, co-founder of Solana, to help early-stage founders better understand best practices for building Web3 ecosystems. /p>
Zach DeWitt, partner at Wing and host of the summit, told Cointelegraph that the company has been investing in Web3 since 2017 but structurally there is more capital dedicated to the sector than ever before. “The best time to invest is historically in bear markets. Prices are down and tourists are scared,” he said.
Come join me...
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