THELOGICALINDIAN - Crypto armamentarium DragonFly Capital appear the barrage of a new 225 actor armamentarium to advance in projects beyond the crypto space
Following the success of the aboriginal $100 actor armamentarium kickstarted in backward 2024, the Dragonfly Armamentarium II will ambition four abeyant areas: decentralized accounts (DeFi) protocols, non-fungible badge projects, Ethereum Layer 2-based businesses, and centralized accounts (CeFi) platforms.
The San Francisco-based adventure basic armamentarium accept been aboriginal backers of notable projects such as ByBit, Compound, Celo, and Maker, amid others. Much of DragonFly Capital’s accomplished investments accept been focused on the DeFi space, but as the crypto amplitude continues to rapidly evolve, it’s bright that the armamentarium is exploring new opportunities.
In a blog post, they accustomed the accident of action on volatile, “frothy” spaces like NFTs. Non-fungible tokens accept been all the acerbity this year, with the industry accepting mass-popularity as cryptos rallied to almanac highs. Riding on the beginning NFT wave, agenda exchange OpenSea aloft $23 million in Series C allotment beforehand this month.
Once the change wears out, however, it’s ambiguous whether the industry can abide its emblematic growth. Despite such concerns, DragonFly Capital common that these arising spaces accept the abeyant to become an “important basic of the agenda future.”
Venture basic behemothic Sequoia will aback the armamentarium as a cardinal bound partner, alongside OKEx, Huobi, Bitmain and Bybit. “Together with abounding of the technology and cultural leaders from US technology firms and VCs, we’re in an absurd position to advice affiliate and advance the crypto movement forward,” said Hasseb Qureshi, managing accomplice at DragonFly Capital.
