Making Markets Tom Dunleavy: The State of Web3 in 2024 - [Making Markets, EP.30]
May 24, 2024
Tom Dunleavy, Managing Director of Crypto VC firm MV Global, discusses the state of Web3 in 2024, covering public and private crypto investing, raising capital, Key Opinion Leaders, meta-use case of crypto, implications of on-chain liquidity, and the regulatory environment in the US.
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Prioritize VC Rounds Before KOL Allocations
- Raise as much venture capital as possible at favorable terms before tapping short-term, liquid KOL rounds.
- Use VC funds for runway and KOL rounds later for marketing and distribution before token launch.
KOLs Drive Attention But Not Longevity
- KOL-backed rounds deliver short-term attention but often damage long-term token price stability.
- VCs provide durable capital that teams can actually spend rather than speculative hype.
Points Programs Bootstrap Sticky Liquidity
- Points programs convert VC-funded value into user incentives that bootstrap network usage without immediate token issuance.
- The effectiveness scales with the protocol's implied valuation, so VC-marked-up networks yield larger user rewards.