Classic VCs have come together to change the 'way'. Even Sequoia must be complete in crypto.

Crypto has been very successful and investment firms have started to 'pay'.

Sequoia Capital, one of the world's largest, oldest and most successful venture capitalists (U.S. Time), quietly updated its Twitter profile on Wednesday.

When you open the Sequoia Twitter homepage, the headline is always "We Helped Create the Legendary Courageous Company",However, the following information has changed and some difficult to understand words such as DAO, Buidl and LFG have appeared.People who didn't understand were skeptical about whether there was an issue with Sequoia's backend system, and those who did have had a lot of discussion after seeing it. Also today, a screenshot of the WeChat chat was posted on the internet, and Shen Nanpeng, CEO of Sequoia China, said he wanted “Everything in crypto”.

Although Sequoia authorities have yet to do this, many people interpret Sequoia's changes as a test of Web3's overall changes and changes in the new era.

The photo was captured on Sequoia Capital's official Weibo Twitter.

So what's the mystery behind Sequoia's latest Twitter profile?

Unsigned to fully adopt Web 3

Duab Source: Sequoia Capital Linkedin official account

Sequoia Capital's Twitter profile today changed to "Mainnet Faucet. We Help Create DAO Captions, Ideas to Token Drops, Be Courageous. LFG."

RacineAccording to Silicon Stars low cost terms, at least six specific terms related to cryptocurrencies can be found in this short article. Then let me tell you one by one about popular research.

First, the mainnet (mainnet) refers to the block network that most people use, users trade it and create smart contracts, and miners mine it. Faucet (tap) refers to a website or app that offers a small amount of new cryptocurrency for free to get information about cryptocurrency insurance.

At first, Buidl thought he was a deceptive author, but in fact Hodl praised the digital advantages that have shifted to 'hang on to life'.

DAO stands for Distributed Autonomous Organization (DAO), which refers to a blockchain organization that can operate without human and administrative interference.

Token airdrop, also known as candy airdrop, refers to a new or existing function that distributes free tokens according to certain rules, allowing multiple users to join and use them.

There are two perspectives on the concept of LFG: Find a Team and Let Go, but I think the Silicon Stars may change to the latter depending on what the red jersey means this time around. . . Usually, LFG is used when excited about something, and is often used in conjunction with a rocket emoji.

So, to define the meaning of redwood today, maybe "The main network is presented in the form of tabs. We help brave people create DAO captions and turn their ideas into reality. From tips to symbolic drops. Hurry up together! "

Kid, has Sequoia changed since you read it? However, after researching, Silicon Stars wanted to buy a local dictionary to expand its reach. Otherwise, you will not understand what the leaders of this capital circle are saying in the future.

twitter pictures

And changing their Twitter profile isn't Sequoia's latest decision to adopt Web 3. On Tuesday, Sequoia India's Twitter account took the profile update. Not only does Sequoia India find its way into the Metaverse, but it uses various cryptocurrency terms in the intro, indicating that Sequoia will take everyone beyond the Metaverse.

This tells us that access to the Canadian currency arena and full adoption of Web 3 is the overall strategy explored by Sequoia Capital.

Just a few weeks ago, we announced that Sequoia Capital would become an unprecedented reform. Going forward, Sequoia will no longer use the traditional 10-year cycle system of the VC industry. The new funds will be based on regular operating instructions. You can invest the entire life cycle of the business you invest in (from seed to listing) and you don't have time to back out.

At the same time, Sequoia followed the path of a16z, General Catalyst and other investment firms to become Business Advisor (RIA), replacing Sequoia with its capital and changing its name from Sequoia Capital to Sequoia Fund. (Sequoia Fund). ). And this move was seen as a better investment in certain assets such as cryptocurrencies.

All Signs shows that the world-renowned veteran venture capitalist is revolutionizing himself as he strives to find development that is well aligned with future generations.

By investing more in the face, Sequoia just got better and better.

An attempt for such a change can be seen in Sequoia's recent investment.

According to the report, this year, Sequoia's participation in the real estate market affected the total investment representing more than 25% of the total investment. The investment portfolio of the cryptocurrency exchanges and FTX, the parent company of the sandbox company, the games brand Metauniverse, the Animocha brand, the new Bitcloud social network, the heritage cryptocurrency management platform Coinshift , DeFi Beta Financial platform and DeFi channels connect Parallel Financial if so. in the whole world.

Incomplete statistics show that Sequoia's current investments in the crypto industry include miners, technology companies, as well as exchanges, service providers, crypto-financial platforms, games, and more, including all aspects of the ecosystem, from top to bottom. .

And just a week ago, Sequoia Capital also played NFT for the first time.On December 3, Sequoia Capital announced that it would auction the 2005 YouTube memorandum in the form of an NFT. The competition is organized by Opensea and anyone can bet, and the profits will be donated to the public fund of the ecosystem 0xPARC (Ethereum Cryptography Application Research Project).

Photo from Sequoia Capital official website

For this reason, Sequoia specifically wrote a thousand word article to explain why they conducted the NFT auction. In the article, Sequoia said, “Cryptocurrency is exploding in Cambrian. We have been investing in cryptocurrency for years, but the rapid pace in this area is alarming. Or, more than four quarters of our business in the States -United / in Europe are As part of the new model, they will be directly involved in the management and the asset token. Whether cryptocurrencies are commercialized or not, but how blockchain technology will change the market. And digital life in the next generation will. "

As recently as today, NFT author Panksy.eth announced that the contract has been sold for 200 Ethereum (approximately US $ 880,000). Sequoia also donated income to 0xPARC as agreed and once expressed support for the crypto community.

Photos de Sequoia Twitter

Lead the VCs to enter the game one after the other and bet on the next fission circuit.

In fact, beyond Sequoia Capital, many Silicon Valley VCs have taken to cryptocurrency tracking and established cryptocurrency venture companies.

Among them, legendary Silicon Valley venture capitalist Andreessen Horowitz was one of the first venture capital organizations engaged in crypto technology investments. A16Z was joined by financial services from Coinbase, a crypto digital trading platform, in 2013. A16Z created the first financial risk cryptocurrency of $ 350 million in 2017 and the second of $ 515 million in 2020. Crypto Asset Management over US $ 3 billion.Currently, A16Z has invested in at least 50 cryptocurrency startups and is the world's largest trader.

Well-known venture capital funds Silicon Valley Founders Fund, Benchmark, and Google Investment Agency GV have started investing in crypto-related projects. If Silicon Valley businesses were still operating last year, everyone would have started playing this year.

There are also new investment companies that are passionate about the crypto industry.Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang joined Paradigm, a venture capital firm focused on investing in the crypto industry in 2018. Companies from different countries have several levels. Just last month, Paradigm One again broke records for the size of its cryptocurrency venture capital investment by raising $ 2.5 billion in cryptocurrency venture capital funds.

According to statistics from PitchBook, venture capitalists in the crypto industry and blockchain space are experiencing an unprecedented boom this year and, since November, a total of global investments of more than $ 27 billion. over the past 10 years. age.

photo du New York Times

It is important that the number of companies accepting and participating in investments in this area is increased.Other traditional investments, such as retirees and affluent funds, have been made more careful and secure and often excluded from the crypto industry. However, as the industry continued to gain popularity, the concept of LP (entrepreneur) gradually changed.

Another Silicon Valley venture capital firm focused on the crypto industry, Pantera Capital, recently raised $ 600 million in crypto capital, 75% of which was mentioned by mainstream LPs. . Most of Paradigm's income during this period also came from trading companies. Just a year or two ago, the major investors in this cryptocurrency investment were the investors most likely to make money from speculation.

LPs' crypto venture revenue this year is estimated to have exceeded $ 20 billion, accounting for more than half of total revenue, and this trend is expected to continue.