THELOGICALINDIAN - Shaun Maguire a crypto accomplice of Sequoia Basic one of the adventure basic firms best alive aback it comes to investments in the cryptocurrency amplitude issued its assessment on the approaching of abounding VCs advance in crypto To him abounding of the companies that are now experimenting with crypto investments will cull aback due to bazaar altitude and a confounding of crypto as an investment
Sequoia Partner Not Optimistic About VCs Entering Crypto
Shaun Maguire, a cryptocurrency accomplice in Sequoia Capital, one of the best alive VC firms in the crypto sector, is not actual optimistic about the approaching of added adventure basic companies in the area. Maguire, who specializes in companies in the tech and crypto sectors that are either in berry or aboriginal advance stages, stated in a contempo podcast that added firms that are now entering the crypto amplitude are activity to “pull back” on these investments back the markets get beneath frothy.
However, he declared that Sequoia will not abatement in this class due to the way in which these investments are fabricated in the firm. According to Maguire, the aggregation has “permanent intentions” back it comes to its investments in the sector. Maguire explained:
The firm, which has already invested in several companies in the area like Polygon, launched a $500- $600 actor armamentarium in February to advance in “liquid” crypto assets as a accompaniment to its added investments to “participate added actively in protocols” and “better abutment token-only projects.”
Misunderstanding Crypto
This abandonment of crypto investments will additionally be acquired by added elements. According to Maguire, there is a axiological confounding of what crypto and Web3 ability action as new technologies, with some investors touting decentralization as a ”silver bullet.” Maguire declared:
The arrival that blockchain-based companies accept gotten from adventure basic funds has been massive, actuality fueled by the absorption that the bazaar has developed by NFTs, Web3, and metaverse as trends this year. Just in Q1, $30 billion were invested in fintech and crypto startups by VC companies.
What do you anticipate about Sean Maguire’s booty on the approaching of some VC investments in crypto? Tell us in the comments area below.
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