teddit

following the $525M Praxis announcement and our own journey helping build IRL<>URL communities and meaningful experiences that leverage our digital future (farcaster, crypto, blockchain, etc), i feel there is no better time to share our next phase of making this future a reality: my pre-seed of exactly $0.00.

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

I'd be surprised is this was a pure equity round

My guess is $25M equity + $500M debt

building /presto /fc-marketplace // prev. rabbithole, village global

yes definitely some balance of venture debt and equity

but with participation from three major crypto funds, there is one type of funding you’re missing

ding ding ding

TOKENS!!!

Looks like it's more smoke and mirrors as usual:

cc @nateliason great addition here

https://warpcast.com/nateliason/0x4f66ed4d

Totally!

But that's likely done as a warrant to be exercised in future rounds.

It may inflate the value a bit, but I highly doubt this round got done at $5B post (assuming ~10% dilution).

I could see it getting done at $250m + using some word play to make it feel bigger.