TL;DR
Galaxy Ventures, is placing a bit of its $113M fund into financialized purposes, which we’re hoping begins a pattern main away from constructing infrastructure, and in the direction of blockchain apps.
Full Story
Galaxy Ventures, simply raised $113M to spend money on early-stage corporations constructing crypto protocols, software program infrastructure and financialized purposes.
That’s not a complete lot within the grand scheme of issues, however the final two phrases of that announcement are getting us excited.
Over the previous 12 months or so, most funds/VC’s have been closely targeted on investing in infrastructure performs, whereas blockchain apps have gotten the chilly shoulder.
Which stinks, trigger the blockchain house presently has extra infrastructure than it is aware of what to do with — and only a few apps.
It’s type of like having an web connection with none web sites to go to.
(Please, for the love of god, we want one thing to do with our crypto exterior of staking).
Right here’s why these two phrases being included within the fund’s press launch is one thing price getting enthusiastic about:
It takes large names to shift a pattern within the investing world, and Mike Novogratz’s Galaxy Asset Administration is likely one of the most revered names within the house.
Godspeed, Mikey boy.
Godspeed.
