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Valuable tokens for radical ideas

Crypto used to be the place where you logged on and had access to the frontier of innovation. We were the beacon of structural progress, the antidote to a malicious establishment. We were the people in Silicon Valley who stood up against the banking industry and rewrote their identity.

We lost the plot a while ago. Crypto nowadays is the place where you log on to gamble your left over dollars away, just like you log on to Stake or Rainbet. You come here and the only things to get excited about are BeraBaddies and X user onchainrapist. What's wrong?

The epicentre of innovation changed. VCs pivoted sectors. LPs fled from crypto funds.

When we look back into 2021, the last time people saw crypto as "the future", this was the real risk appetite:

It's 2021. Blockchain & DeFi are the hottest categories now. If you are a MP in a VC fund and not allocated into the hottest new category, your LPs are looking to switch funds. With over $33B in annual crypto startup funding everybody in Silicon Valley expresses that they believe that this category is the next big thing. Alone $10.5bn was invested in Q4, 2021, and the future couldn't look brighter.

MoonPay — $555M Series A
Celsius — $400M Series B
Sorare — $680M Series B
FTX — $900M Series B
Ledger — $380M Series C
BlockFi — $350M Series D
Anchorage Digital — $350M Series D
NYDIG — $1.0B growth equity
Forte — $725M Series B
BlockchainCom — $300M Series C
OpenSea — $100M Series B
Axie Infinity — $150M Series B
The venture market has spoken 2021 was the time to be bullish DeFi. And the market responded, valuations skyrocketed, it was inevitable.

The start of 2022 wasn't different, VCs and retail were optimistic about decentralised finance. Yuga Labs, ConsenSys, Polygon, Circle, FTX, OpenSea, StarkWare, Uniswap all raised north of $100m during that time.

It was risk on.

Then we hit the brick ceiling. Luna, 3AC, FTX.

2023 happened & 2024, a deep bear market but a quiet and hidden change to kick out crypto from San Francisco and move it to New York.

Regulatory arbitrage allowed for a final shift from crypto being a Silicon Valley type of innovation to a Wall Street vehicle. This location move from San Francisco to New York for once allowed BTC to shoot up to $100K+ but it also meant a dark time for anything "innovation".

San Francisco Crypto was left to rot.

ETFs, DATs, MSTR, Michael Saylor, mNAV, BONK treasury, ETHzilla. This was the new age for the future of finance.

WTF?

Street came into this sector with two philosophies.

a) tokens are intrinsically value-empty garbage packaged with lies from VCs and founders - We need to fix that.

b) blockchain is the most dull thing ever nowadays, no VC wants to fund the next perps DEX, no LP wants to buy into a crypto fund.

So we came to our northstar: Valuable tokens for radical ideas.

The spirit of crypto, the core reason the majority of people went to this space in the first place is not exctinct yet, and we aim to re-ignite this passion for radical ideas.

With ˜$400m in cumulative equity firm valuation coming to tokenise through our invention - ERC-S, the beginning of this rocky and long path towards the bright light at the end of the tunnel couldn't look better.

godspeed.