The venture capital companies (VC) have become much more selective with the cryptographic projects in which they invest, representing a change compared to the previous cycle due to the maturation of the market, according to Eva Oberholzer, the director of investments of the company VC Ajna Capital.
“It is more difficult because we have reached a different step from the crypto, similar to each cycle that we have seen for other technologies in the past,” Oberholzer told Cointelegraph.
She added that the maturation of the market has slowed down the pre-series investment, while VC pivot their attention to established projects with clear commercial models. Oberholzer said:
“These are more models of foreseeable income, institutional dependence and irreversible adoption. So what we see at the moment is that crypto is not motivated by any same frenzy or other trends, but it is more institutional adoption. ”
The change in the VC activity reflects the broader trend of investment in institutional cryptography and the emphasis placed on the activities of digital assets generating income, as opposed to the speculation of prices which led investments during the preceding cryptography cycles, including the Haussier market of 2021.
In relation: Roundup VC: Bitcoin Defi increases, but tokenization and stablescoins win steam
The traditional financial world requires return and income -producing companies
Traditional financial investors, including Wall Street companies, venture capital and institutional funds, are increasingly demanding cryptographic projects that provide established foreseeable sources of income.
VC companies focus on Stablecoin projects and invest in other forms of payment infrastructure that may generate costs, Oberholzer said.
The platforms of real assets tokenization (RWA) are also on the radar of VC companies due to the income models associated with the strike and management of Rwas Onchain Rwas.
Matt Hougan, the investment director (IOC) of the investment company Bitwise, recently told Cintelegraph that the quest for return stimulated investment in Wall Street in Ether (ETH).
“If you take $ 1 billion dollars of Eth and put it in a company and put it, suddenly, you manage profits. And investors are really used to companies that generate profits,” said Hougan.
The Blockchain Smart Contrac Layer-1 hosts the majority of the financing activity (DEFI) which generates stable income and other forms of financial rent for its owners.
Review: Tradfi built Ethereum L2S for Tokensize Tillions in Rwas: Inside Story