Pantera Blockchain Letter, January 2020
Mike Belshe spoke on intuitional adoption of cryptocurrency from the perspective of one of the leading institutional custodians in the market here.
“In order to get that next level of institutional investors to come in, we have to build trust. We have to meet the metaphors of what they’re expecting. We have to build infrastructure that they expect to see — that they would see in other asset classes.”
BLOCKCHAIN SUMMIT PANEL :: ENABLING NEW APPLICATIONS
Blockchain-based technologies enable a more peer-to-peer connected network where user privacy and security are emphasized relative to centrally-designed, server-based applications of the Web 2.0 era.
These next generation Web 3.0 applications are being developed today. We invited a handful of leading projects to discuss the practical applications of blockchain technology and the areas most primed for disruption. Watch it here.
“And so the only real way that we could think of to truly make this piece of infrastructure decentralized is to have a way for the users to vote on upgrades, hence the ZRX token, which is a governance token. And it’s really important that this token is actually owned by the people that are using the protocol.”
– Will Warren, Co-Founder and CEO of 0x
“We have to actually bring decentralized applications up to par to centralized applications. The user experience needs to be good enough before people will start using these applications that we’re now building. And then they’ll realize the additional benefits. So the same things I mentioned before: crypto economic incentives, better privacy, better management of your own funds — these advantages can only take place after you’ve solved the very basic hurdles.”
– Matt Liu, Co-Founder of Origin Protocol
“Right now it’s as if we’re building skyscrapers with literal picks and shovels, like the handheld things. And we need to get to the point where first we give power tools, and then we give construction equipment like cranes and bulldozers and stuff like that. But we’re still very much in that first phase. And our goal is to help the industry evolve by giving the power tools and eventually the cranes and the bulldozers.”
– Nikil Viswanathan, Co-Founder and CEO of Alchemy
“So the pitch is very much like, you kind of get the same service but for 1/10 of the price. And also it’s a lot more reliable because now you no longer have a central point of failure. You can run on the completely decentralized network where any node failing doesn’t mean a thing for you as a quality of service that you can provide. You’re never going to be locked into a single vendor because there is no single vendor on the decentralized network.”
– Eric Tang, Founder and CTO of Livepeer
PORTFOLIO COMPANY HIGHLIGHTS
Alchemy Raises $15mm Series A Led by Pantera
Alchemy announced their $15mm Series A round led by Pantera Capital in December. Venture Fund III invested in the startup which provides node infrastructure and tools for developers.
Building blockchain-based applications requires significant attention and resources to operate nodes that interpret and write to blockchains. Alchemy takes on this burden, ultimately allowing developers to focus on creating fast and reliable applications.
You can read more about the announcement here.
Origin Token (OGN) Launches on Binance
Origin, a blockchain platform for building decentralized marketplaces, recently launched their token on Binance. Pantera ICO Fund and Long-Term ICO Fund are invested in this project which, in the long run, is seeking to disintermediate sharing economies like Airbnb and Uber — companies that extract 20–30% from transactions.
For more information about Origin Protocol and the function of the (OGN) token, check out this link.
UPCOMING TRAVEL
Our Capital Formation partners and occasionally investment team members will be traveling to a handful of cities over the next months to discuss blockchain investment with our partners and potential investors.
We also have organized group lunches in some cities, should you want to meet other investors who share your interest in blockchain. If you are interested in attending one of our group lunches, please fill out the form on this page and we will be in touch regarding availability.
- Miami, January 30–31
- London, February 3–6
- Detroit, February 4–5
- Raleigh, NC, February 12
- Oklahoma, February 12–13
- London, February 17–20
o February 19, Group Lunch | 12pm - Amsterdam, February 21
- Virginia, February 25
- Washington D.C., February 25
- Maryland, February 26
- Toronto, February 26–28
- Tennessee, March 8–10
- Hong Kong, March 16–20
- Philadelphia, March 17–19
o March 18, Group Lunch | 12pm - Seoul, March 18–20
- Paris, March 30–April 2
- Los Angeles, March 31-April 2
If you are interested in a meeting, please contact Pantera’s Capital Formation team at +1–650–854–7000 or ir@panteracapital.com.
The future has arrived,
@Dan_Pantera
dan@panteracapital.com
@JoeyKrug
joey@panteracapital.com
“Put the alternative back in Alternatives”
PORTFOLIO COMPANIES AND PROTOCOL TOKENS
PRODUCTS YOU CAN USE TODAY
Many Pantera portfolio companies/protocols are currently live and running today. Try them out below!
- Abra All-in-one cryptocurrency wallet and exchange app
- Alchemy Blockchain node infrastructure and developer tooling
- Audius Music streaming and sharing platform
- Bakkt Physical Bitcoin futures and custody for institutions
- BitOasis Middle East-based cryptocurrency exchange
- BitPesa Africa-based cryptocurrency exchange
- Bitstamp World’s longest-standing crypto exchange
- Blockfolio Cryptocurrency portfolio and price tracking mobile app
- The Block Cryptocurrency and blockchain news
- Brave Speed and privacy focused browser with BAT token integration
- Chronicled Blockchain-enabled enterprise supply chain solutions
- Circle Peer-to-peer payments technology company
- Civic Secure, blockchain-enabled identity ecosystem
- Coinsuper Hong Kong-based cryptocurrency trading platform
- Earn Earn crypto by learning about crypto
- ErisX Spot market trading for cryptocurrency and physical bitcoin futures
- Flexa Spend crypto at 30,000 stores using the SPEDN mobile app
- Harbor Digital platform for streamlining alternative investment processes
- InstaDApp Manage, optimize, and deploy assets across DeFi protocols
- Kinesis Platform for exchanging physical gold, silver, fiat, and cryptocurrency
- Merkle Data Risk management and analytics software for crypto institutions
- OpenToken Software to help run token offerings
- Origin Build decentralized marketplaces on Origin platform
- Ripio Global credit network
- ShapeShift Non-custodial marketplace for trading between digital assets
- Staked Staking and lending service for compounding crypto holdings
- Tagomi Electronic brokerage offering prime services for digital asset investors
- TruStory Platform for open debate
- Veem Global payments network merging traditional payment rails and crypto
- Xapo Bitcoin wallet for ease of access and security
FUND DOCUMENTS
If you would like to receive additional information on Pantera’s funds, including the Private Placement Memorandum, Limited Partnership Agreement, or Subscription Documents, please fill out the form on this pageto begin the subscription process.
BLOCKCHAIN FUNDS
CONFERENCE CALLS :: ICO, DIGITAL ASSET, AND VENTURE FUNDS
Pantera Blockchain Funds Conference Call
Tuesday, February 4, 2020 9:00am PST / 18:00 CET / 1:00am CST (Feb. 5th)
Please register (in advance) via this link:
http://info.panteracapital.com/general-information-conference-calls
Meeting ID: 977–655–520
Pantera Blockchain Funds Conference Call
Tuesday, March 3, 2020 9:00am PST / 18:00 CET / 1:00am CST (Mar 4th)
Open only to LPs of the fund. Please register (in advance) via this link:
http://info.panteracapital.com/general-information-conference-calls
Meeting ID: 122–031–861
Venture Fund III LP Performance Call
Tuesday, March 17, 2020 9:00am PDT / 17:00 CET / 12:00am CST (Mar 18th)
Open only to LPs of the fund.
Venture Fund II LP Performance Call
Tuesday, March 24, 2020 9:00am PDT / 17:00 CET / 12:00am CST (Mar 25th)
Open only to LPs of the fund.
Pantera Blockchain Funds Conference Call
Tuesday, April 7, 2020 9:00am PDT / 18:00 CEST / 12:00am CST (Apr 8th)
Open only to LPs of the fund. Please register (in advance) via this link:
http://info.panteracapital.com/general-information-conference-calls
Meeting ID: 341–360–820
PAST ICO, DIGITAL ASSET, AND VENTURE FUND CONFERENCE CALL RECORDINGS
Recordings of recent ICO, Digital Asset, and Venture Fund III conference calls are available on this page.
RECENT PRESS
- Dan Morehead on Real Vision, “On the Cutting Edge of Macro and Bitcoin”
- Paul Veradittakit on How Origin Enables Freedom
- Dan Morehead on CNBC, ‘Crypto Trader Show’ :: Live In Los Angeles
- CNBC, ‘Crypto Hedge Fund Pantera On Track to Raise $175 Million’
- Dan Morehead on CNBC, Fast Money
- Joey Krug on the June 8 Episode of the “Unconfirmed: Insight and Analysis from the Top Minds in Crypto” podcast, episode entitled “How to Create Regular Cryptocurrency”
- Dan Morehead on CNBC, Fast Money
- Dan Morehead on Fox Business, Mornings with Maria
- Dan Morehead on Bloomberg Panel, Bitcoin: The Past, Present and Future
- Dan Morehead on Bloomberg, Pantera’s Morehead Says Bitcoin ‘Is a Screaming Buy’
- Dan Morehead on CNBC, Hedge Fund CEO Says Bitcoin’s Flashing a Rare Buy Signal
- Dan Morehead on CNBC, Early Innings for Cryptocurrency Craze: Pantera Capital CEO
- Dan Morehead on CNN, Bitcoin: Digital gold or Ponzi scheme?
- Dan Morehead on Fox Business, Morning with Maria
- New York Times, A Bitcoin Hedge Fund’s Return: 25,004% (That Wasn’t a Typo)
- Dan Morehead on Fox Business, Mornings with Maria
- Dan Morehead speaks at Money2020 Conference with Kik’s Ted Livingston
- Dan Morehead speaks at Sohn Conference CNBC
- TechCrunch, While Investment Firms Ponder ICOs, This Team is Barreling Ahead With a $100 Million ICO Fund
- TechCrunch, ICOs, How Do They Work? | Disrupt SF 2017
Pantera is actively hiring for the following roles:
- Systems Engineer
- Investor Relations Associate
- Administrative Assistant
If you have a passion for blockchain and want to work in Menlo Park, San Francisco, or New York, please follow this link to apply.
Interested in joining one of our portfolio companies? The Pantera Jobs Board features 400+ openings across product, engineering, finance, marketing, and other functions. Visit the Jobs Board here and apply directly or submit an application for our Talent Network here to join our resume database.
Some good material to start with on the development of blockchain technology and cryptocurrencies as speculative instruments:
- Bitcoin: A Peer-to-Peer Electronic Cash System — white paper by Satoshi Nakamoto
- 12 Graphs that Show Just How Early the Cryptocurrency Market Is by Chris McCann
- Blockchain Investments and the New Problem Asset for Conventional VCsby Jake Brukhman
- Cryptoeconomics 101 by Nick Tomaino, and his Tokens, Tokens and More Tokens
- Fat Protocols by Joel Monegro
- What Does $300 Ether Mean? by Vinay Gupta
- Token Economy by Stefano Bernardi and Yannick Roux
- Traditional Asset Tokenization
- The Rise of the Token Sale by Max Mersch
- Making Sense of Cryptoeconomics by Max Mersch
- Why Amazon’s Margin Is Filecoin’s Opportunity Forbes, Aug 28, 2017
- Joey Krug RealVision Interview Excerpts: ICOs, Future of Digital Currency, Ethereum Flash Crash RealVision, Aug 10, 2017
- Pantera Capital to Raise $100 Million in Investment for ICO Hedge FundCoindesk, Jun 28, 2017
- While Investment Firms Ponder ICOs, This Team is Barreling Ahead with a $100 million ICO Fund TechCrunch, Jun 28, 2017
- Balaji CNBC Interview CNBC
- US Fed Hints at Blockchain Integration Coindesk
- Coindesk State of Blockchain Q2 Report Coindesk
- The Isle of Man Welcomes ICOs Coindesk
- Ethereum Metropolis Release Testnet To Launch Coindesk
- Closure Steps for Chinese Exchanges Coindesk
- China Shmyna, Bitcoin Trading is Way More Distributed Now AnywayCoindesk
- Lawmakers Seek Tax Exemption on BTC Transactions Under $600Coindesk
- ICO “Rounds” Are Coming TechCrunch
- Crypto Regulation? Not Anytime Soon, Says White House OfficialCoindesk
- Why Decentralization Matters by Chris Dixon. Outstanding perspective on how we went the open Internet 1.0 to a closed Internet 2.0 — and the promises of a new Internet ecosystem powered by Blockchain.
- Beyond the Bitcoin Bubble The longest read on this list from NY Times Magazine. A great ten-thousand foot view. A must-read.
- Fat Protocols Written over two years ago, an image in this article is one of the most frequently referenced in the industry
- A Letter to Jamie Dimon Famous retort to Mr. Dimon’s flippant remark about bitcoin being a fraud. Concise, even-tempered, a brilliant article.
- Interview with David Sacks Former Pay Pal COO Sacks lists ten use-cases where he anticipates blockchain can disruptive in the not-too-distant future.
- Mapping the Blockchain Project Ecosystem Attempt to categorize the protocol tokens based on use –helpful for newbies.
- Two of the best books are Digital Gold by Nathaniel Popper for a fun high-level history and an in-depth technically-minded look Mastering Bitcoin and Mastering Ethereum by Andreas Antonopoulos.
- And some additional information on the ICO model specifically:
- Recommended Primer: Token Mania
- Kin Whitepaper
- Kin Webpage
- AVC Venture Capital on Kin
- Tech Crunch Article on Kin
- Reuters Article on Kin
- Video on Kin by AVC
- USV on Protocol Value
- Tokenomics — A Business Guide to Token Usage, Utility, and Value by William Mougayar
- Earn’s CEO on Token Economies
- Basic Attention Token Whitepaper
- Basic Attention Token Webpage
- Nick Szabo and Naval Ravikant on Tokens
Additional information on blockchain regulation:
You can subscribe our publications, including the ones listed below, by visiting Pantera’s website or by e-mailing ir@panteracapital.com.
Blockchain Letter
A monthly letter with our thoughts on significant market and ecosystem-related developments. Also, includes our thoughts on blockchain venture capital and news on our portfolio companies for accredited investors.
Blockchain Investor Letter
Public Letter plus exclusive information for accredited investors.
White Papers
Periodic, original blockchain research and academic papers.
- “A Crypto Thesis” by Pantera Co-CIO Joey Krug [2019.01.08]. Joey’s insights on crypto and blockchain innovations what is still needed for user and institutional adoption. Informative and detailed primer for anyone considering investing in the space.
Follow us on Twitter and Medium for the latest blockchain news and insights. @PanteraCapital, @Dan_Pantera, @JoeyKrug, and @Veradittakit.
Published at Thu, 30 Jan 2020 22:08:57 +0000
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