The VC of second-tier Web2 crosses the river of Web3 by feeling the stones of 2018

Web3 really broke into the public eye because of the aggressive bets and war of words between top VCs and tech giants, just like the Metaverse that exploded on social media earlier.

Web3 sounds like a brand new Internet era that is about to kick off. Wall Street and Silicon Valley obviously don’t want to miss this feast, nor do domestic second-tier VCs.

It is emphasized here that “second-tier” only refers to the second-tier level, and the actual status is actually the first-tier, or even beyond the first-tier.

They became Web3 experts overnight, even though they were chip leaders the moment before.

Clarke, author of “2001 A Space Odyssey,” said, “Any sufficiently advanced technology is indistinguishable from magic.”Second-tier VCs are magicians at the forefront of magic, creating the magical reality of the technology industry.

The VC of second-tier Web2 crosses the river of Web3 by feeling the stones of 2018

The VC of second-tier Web2 crosses the river of Web3 by feeling the stones of 2018

The VC of second-tier Web2 crosses the river of Web3 by feeling the stones of 2018

The above true dark humor story comes from Twitter blogger BitRun.

In fact, Northern Lights Ventures started researching the field of Web3/crypto/blockchain at least a year ago, and now it seems that the research results are somewhat touching.

And this is not the industry cognition of Northern Lights Ventures (more precisely, the staff of this family) that makes people laugh. In fact, some time ago, Zhu Xiaohu of Jinsha River Ventures spent US$2,700 to buy a pair of StepN running shoes.

The VC of second-tier Web2 crosses the river of Web3 by feeling the stones of 2018

Of course, it can also be said the other way around, “Even people like Zhu Xiaohu have entered the market, indicating that the market is indeed over.”

Still continuing to catch StepN and shove it hard.

A month ago, Mable Jiang, the head of Multicoin’s Beijing investment team, jumped to StepN as CRO (chief revenue officer), but the actual position after joining was actually chief apology officer – for the suffocating operation of founders Yawn and Jerry Aftermath.

I’m sure anyone with a deep dive into StepN would be cautious about its future, let alone Multicoin folks.

The reason for Mable Jiang’s entry is “with the rich experience accumulated in Multicoin, I chose to join STEPN, because this is an opportunity I can’t miss”.

Of course, before the real arrival of Web3, anyone can make their own judgments about Web3, and no one has the ultimate right to interpret it.

However, we can divide all the logic for judging Web3 into two categories – one is the endogenous logic, which is naturally reasoned from the evolution of the industry; the other is I haven’t come up with an accurate name, let’s call it Blind people touch the elephant method, add their own imagination to what they touch blindly, and that is what it is.

The logic of endogenous type understands Web3 like this:

Web2 is a closed database where companies control and technically and legally own user data, this is not in line with the technology wave of decentralization, so the new paradigm shift should be the separation of data and application logic, when developers are on top of the Web3 stack Build applications that provide better products and services.

As for the specific form of products and services, of course, it depends on the sub-sector where a hundred flowers bloom.

This is how the blind man feels the elephant to understand Web3:

Web3 is hot, so take 5 minutes to see what it is. Okay, didn’t understand. Then I will improvise based on keywords and popular projects, no one understands anyway.

As for the specific form of products and services, of course, the familiar Web2 logic has changed some new terms.

We listen to the endogenous logic of Web3, but we are actually learning the evolution history of the entire industry, the blood and tears of practitioners, the dismantling of models, and the collision of technologies.

We listened to the Web3 of the blind person’s method of touching the elephant, such as the scene of micro-business MLM, talking about their quantum products and graphene technology.

The difference between the two is actually very simple, and many people are often blind, because the logic is simple enough, rude and vivid.

For example, in 2018, the unparalleled Token faction and the chain reform faction are the products of the blind man’s method of touching the elephant, and the specific solutions they provide are not new. At that time, the traffic dividend of Web2 gradually dried up, and projects often exchanged for the market through subsidies. Their solution is essentially a token wrap. Many projects have simplified it a bit on the basis of this theory – issuing coins is done.

Today, VCs who study a lot of Web3 are actually still feeling the stones of 2018 to cross the river of Web3, and the stones of 2018 have shown that this road is dead.

Of course, this is also the biggest opportunity for Web3.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-vc-of-second-tier-web2-crosses-the-river-of-web3-by-feeling-the-stones-of-2018/
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