In a testament to the evolution of the crypto landscape, New York-based, crypto-centered investment company Reverie has unveiled its ambitious project, Reverie Fund One. This $20 million venture capital outfit stands staunchly behind the idea that it can effectively nurture Web3 startups, helping them to make their mark in the futuristic world of blockchain technology.
Ovation greeted the announcement of this new fund, delivered by Larry Sukernik, co-founder of Reverie. Conspicuously, Sukernik has made it clear that his company is committed to steering clear of pointless theatricality. Why the commitment? The focus is full concentration on “things that move the needle,” such as making introductions, refining product, and crafting a potent ecosystem around crypto.
To clarify, ‘crypto’ here refers to the world of cryptocurrency technology blossoming from Bitcoin’s inception. The associated decentralization ideologies have encouraged a vision of full societal transition to blockchain-based solutions. The Web3 startups now plant their stakes into this burgeoning sector.
Reverie has taken a unique approach, as revealed in their blog post. Terming it “crypto-native and business-native,” they stress on assisting founders in bringing their visions to fruition. They’re advocating for a radical shift in perspective with the next generation of crypto founders.
This shift signifies a departure from a single-minded focus on complex mechanisms and intricate, albeit user-starved applications from earlier crypto inventors. The new crypto trailblazers, the company posits, will pivot towards something that, paradoxically, seems more traditional: Users, revenues, and profits – sound business principles that have held true for every remarkable company worldwide.
In a bold outcry, Reverie’s blog post dismisses one of the prominent discourses hovering over the crypto space – the idea that investor speculation is the primary gatekeeper to widespread crypto adoption. From Reverie’s perspective, the bulk of the founders globally aren’t building platforms for speculative players.
Given the choice between orchestrating an online meme-token casino and constructing a world-changing crypto product, Reverie urges the choice of the latter. This disruptive stance may not sit well with everyone, but perhaps, it may trigger a profound shift in the industry. The future remains uncertain, yet this gearing towards purpose and global impact bodes well for the blockchain boom.
Source: Cryptonews
