As a founder, investor interest in my space (RWAs) has gone up by a huge margin after Ondo’s $2b token launch. How important are benchmark numbers like that in IC meetings?

Crypto native. Building the real world’s DeFi matrix. Founder of an @EstateProtocol. I like RWAs, politics, economics, and techno.

Yeah, seems like the low-conviction way to invest, but very common

I think most VCs will be more excited if there's a market validating data pt (like a highly valued token) bc they think a #1 in a category means there can also be a #2, #3, etc whose value will be anchored by #1. I don't like this way of thinking personally but it is very common.

you probably don’t think about liquidity enough // it is what it is  // build value, not valuation

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Interesting. Have you come across any other RWA data platforms? Were listed on rwa.xyz but waiting for their real estate dashboard to come up 

Ondo did well indeed. Seem to be trading at a premium compared to similar projects, even ones with higher TVLs

Comps are always relevant - probably needs more time to be material to anyone. I think IC/diligence would probably try to glean a ton of info from public charts (like rwa.xyz)

Congrats to the Ondo team - damn.

Comps are a segment of an investment memo that get discussed in IC but much more goes into ours.

Tech stack, team, TAM/SAM, moat, GTM

What Nathan and team are doing is awesome and helps crack the probability ceiling more.