Crypto VC Paradigm Expands Investment Scope Past Crypto
Key Points:
- Paradigm emphasizes technical research and has backed companies exploring new technologies.
- Although Paradigm removed mentions of crypto from its website, it continues to focus on crypto and web3.
Paradigm, the most prominent Crypto VC, is taking its crypto-only focus to include “frontier” technologies such as AI. It removed crypto/web3 mentions from the front page of its website earlier this month. A line that said, “we believe crypto will define the next few decades,” was removed from the home page.
Paradigm, one of the most prominent crypto VC firms, is reportedly expanding beyond blockchain and crypto investments. The firm is now focusing on a broader array of “frontier tech, ” including artificial intelligence.
The company has removed mentions of crypto and web3 from its front page and is now calling itself a “research-driven technology investment firm” instead of explicitly investing in “disruptive crypto/Web3 companies and protocols.” According to the Wayback Machine, the revision appears to have gone live around May 3.
Although the change in messaging may suggest that the firm is steering away from crypto, sources indicate it is merely expanding its reach into adjacent areas. The company’s portfolio section of the website still lists dozens of firms associated with crypto, decentralized finance, and NFTs. Paradigm’s mandate has not changed, focusing on crypto and web3.
The updated website copy is meant to emphasize its technical research, and the company has backed companies that have explored new technologies within their core strategy, such as AI Arena. The shift in focus comes as the crypto industry is still dealing with aftershocks from the crisis last year marked by the collapse of the FTX exchange.
According to data tracked by The Block Research, venture capitalists put around $2.8 billion into crypto investments in the first quarter of 2023, down from about $3.5 billion in the fourth quarter of 2022. The fresh focus on AI comes amid a surge in attention on AI this year, especially with the widespread adoption of OpenAI’s ChatGPT language model. AI and blockchain technology can be integrated, and AI may catalyze crypto in this cycle.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
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Crypto VC Paradigm Expands Investment Scope Past Crypto
Key Points:
- Paradigm emphasizes technical research and has backed companies exploring new technologies.
- Although Paradigm removed mentions of crypto from its website, it continues to focus on crypto and web3.
Paradigm, the most prominent Crypto VC, is taking its crypto-only focus to include “frontier” technologies such as AI. It removed crypto/web3 mentions from the front page of its website earlier this month. A line that said, “we believe crypto will define the next few decades,” was removed from the home page.
Paradigm, one of the most prominent crypto VC firms, is reportedly expanding beyond blockchain and crypto investments. The firm is now focusing on a broader array of “frontier tech, ” including artificial intelligence.
The company has removed mentions of crypto and web3 from its front page and is now calling itself a “research-driven technology investment firm” instead of explicitly investing in “disruptive crypto/Web3 companies and protocols.” According to the Wayback Machine, the revision appears to have gone live around May 3.
Although the change in messaging may suggest that the firm is steering away from crypto, sources indicate it is merely expanding its reach into adjacent areas. The company’s portfolio section of the website still lists dozens of firms associated with crypto, decentralized finance, and NFTs. Paradigm’s mandate has not changed, focusing on crypto and web3.
The updated website copy is meant to emphasize its technical research, and the company has backed companies that have explored new technologies within their core strategy, such as AI Arena. The shift in focus comes as the crypto industry is still dealing with aftershocks from the crisis last year marked by the collapse of the FTX exchange.
According to data tracked by The Block Research, venture capitalists put around $2.8 billion into crypto investments in the first quarter of 2023, down from about $3.5 billion in the fourth quarter of 2022. The fresh focus on AI comes amid a surge in attention on AI this year, especially with the widespread adoption of OpenAI’s ChatGPT language model. AI and blockchain technology can be integrated, and AI may catalyze crypto in this cycle.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
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