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Token Daily is a place to discover trending news and products in crypto and blockchain.
Token Daily is a place to discover trending news and products in crypto and blockchain.
Investor in early-stage protocols and startups. Former VC at @s28vc & @Benchmark, quantum mechanic at @Stanford, and Vince Young devotee at @UTAustin
posted 4 years ago
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In case it wasn’t abundantly clear, everything I wrote above is sarcasm. Please do not do any of that.
Sourcing early-stage blockchain investments isn’t all that different from sourcing other early-stage startup investments — with one major exception!
(1) Spend time where entrepreneurs do — on the internet and in meatspace — and follow your curiosity/authenticity. In this market that means Reddit/Telegram and meetups/events attended by engineers/builders.
(2) Cherish referrals and tips from trusted friends & co-investors (like you!). I’ve found investing early in cryptocurrency projects to be far more collaborative than typical early-stage venture investing.
The major exception:
(3) Once a token is trading, sourcing is just finding a reputable exchange! There’s a bias to be as early as possible. To me, this is due to (1) pattern matching to VC dynamics and (2) predictable “pops” upon exchange listing allowing instantly realized gains for pre-sale investors. I invest early sometimes but not always. I’m convinced there are VC-scale returns achievable by building a position in undervalued but already-traded tokens.