Speaking to a large (>$500M AUM) VC yesterday who is bearish on web3 consumer (gamefi, socialfi) in this market. Strong preference for infrastructure and middleware.

Who strongly agrees/disagrees?

Jazzed about web3 🎷 

Building web3 mobile gaming (Unite, Superlayer)

they’re looking for one exit to return entire fund. crypto biz models leaning to value creation, long term rental contract-esque cashflows. imo former will be pretty rare in few yrs. good ole post:

https://variant.fund/articles/cryptos-business-model-is-familiar-what-isnt-is/