On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Inflated valuations for crypto businesses have raised the bar for small investors to participate in the ongoing innovation.
As cryptocurrency continues to take over mainstream finance, formerly cautious investors across the globe are rethinking their stance of counting crypto as a bad investment. This change of heart leads to a higher market valuation of crypto businesses due to increased funding from goliath investors.
Citing this trend, PricewaterhouseCoopers crypto leader Henri Arslanian claimed that larger players from venture capital, private equity and pension funds are outplaying smaller boutique firms and family offices from participating in the latest innovations around crypto.
Arslanian sided with smaller VC firms as he shared an example stating that a deal worth $10 million is now seeing “large VCs come in and put a bid in for a higher valuation.” He opined:
“This is happening a lot with very early-stage companies, say, $5 million to $20 million — the prices are being inflated.”
As the crypto ecosystem continues to redefine the future of the asset class, Arslanian highlighted the recently doubled volume of crypto mergers and acquisitions. He underscored how this year crypto businesses were able to raise 2020’s M&A value of $3 billion in just three months.
“If your minimum ticket size is around $50 million, there aren’t that many companies that have that status yet, Arslanian explained: "If you’re a large pension fund and you decided to make a crypto allocation, there are no more than two dozen companies around the world that are investable, looking for capital and could absorb $100 million.”
Along similar lines, Cointelegraph reported on FTX’s recent record-breaking funding round of $900 million. The funding, which resulted in FTX’s valuation growing from $1.2 billion to $18 billion, saw the involvement of large VC firms including Softbank, Sequoia Capital, Coinbase Ventures, Multicoin, VanEck and Paul Tudor.
Related: Multiverse secures a $15M investment from Samsung Next, leading blockchain VCs
Cointelegraph also reported investments from some of blockchain’s biggest VCs towards Multiverse Labs, a company built to fund early-stage blockchain and AI initiatives. Some of the prominent investors include Samsung Next, Huobi Ventures and Arrington XRP Capital.
The resultant valuation for Multiverse grew to $250 million with a greater focus on engineering, research and marketing in addition to expansion across Europe and Southeast Asia.
https://ift.tt/3l8z7Ly
Comments
Post a Comment