TL;DR
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Galaxy Ventures, is putting a chunk of its $113M fund into financialized applications, which we’re hoping starts a trend leading away from building infrastructure, and towards blockchain apps.
Full Story
Galaxy Ventures, just raised $113M to invest in early-stage companies building crypto protocols, software infrastructure and financialized applications.
That’s not a whole lot in the grand scheme of things, but the last two words of that announcement are getting us excited.
Over the past year or so, most funds/VC’s have been heavily focused on investing in infrastructure plays, while blockchain apps have gotten the cold shoulder.
Which stinks, cause the blockchain space currently has more infrastructure than it knows what to do with — and very few apps.
It’s kind of like having an internet connection without any websites to visit.
(Please, for the love of god, we need something to do with our crypto outside of staking).
Here’s why these two words being included in the fund’s press release is something worth getting excited about:
It takes big names to shift a trend in the investing world, and Mike Novogratz’s Galaxy Asset Management is one of the most respected names in the space.
Godspeed, Mikey boy.
Godspeed.
