I’m excited to announce I’m joining the wild west of crypto. I’ve joined a company that helps grow the Cosmos ecosystem.
I’ve been watching Bitcoin since 2013 and, like everyone, regret not mining a few (or many) coins in the early days. But I didn’t understand blockchain tech back then, so it didn’t feel wise to invest in something I didn’t understand. And I completely missed the Ethereum bus and that little thing called smart contracts.
Now, almost a decade later, I’m finally ready to give crypto a shot.
You can blame a colleague and good friend who opened my eyes to the opportunities in web3. (Web3 is another term for crypto without the focus on currency and finance.)
Additionally, he introduced me to the GenesysGo IDO, which turned out to be one of those rare “aha” moments. It was a similar feeling to the first time I saw an iPhone with the App Store.
This tech could be world-changing.
I don’t mean that GenesysGo will change the world. I wish them all the best in solving Solana’s storage problems.
Rather, my epiphany was I witnessed a startup raise over $50 million without losing a single share of their company. And I, your humble retail investor, was able to participate. No term sheets. No dilution. No meetings with a Silicon Valley Tesla-driving biohacker and his blood boy.
Granted, VC money is alive and well in the crypto arena. You don’t raise $50+ million without institutional money.
To GenesysGo’s credit, they executed the IDO masterfully, including using NFTs to help predict the price of the IDO. I realize not all IDOs are so smooth.
But, the experience opened my eyes to the true disruptive potential of blockchain tech. It’s no wonder I’ve heard VCs quickly claim all crypto is a scam. It’s a huge threat to the way they do business.
The key word here is potential. In no way do I think crypto is guaranteed to disrupt all things. Like others, I think the crypto space is profoundly early and has a long journey to achieve mainstream adoption.
I’ve been in the VC-backed and bootstrap startup game for a long time. I’m eternally grateful for the experience there, but I’m excited to enter a game with different rules.
And let’s not forget, I’m an outsider looking in right now. I’m sure my perception and opinions will change after I live in the crypto world for some months.
In the meantime, let’s see what this crypto, blockchain, web3 stuff is all about.