Leon Abboud CEO of $5b Animoca Brands On Building Web3 Startups, Fund Raising, Memecoins, and Vampire Attacks
Nov 18, 2024
Robby Yung, CEO of Animoca Brands and a leading voice in Web3, discusses building billion-dollar startups in the evolving tech landscape. He reveals that while the funding environment is tougher, product-market fit is more accessible due to larger communities. Robby explores why memecoins are outperforming utility tokens, framing them as powerful community tools. He also delves into fundraising strategies, the significance of tokenomics, and how vampire attacks can boost interoperability in Web3. His insights are essential for aspiring founders navigating this dynamic space.
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Separate Token Value From Equity Value
- Token and equity valuations are separate instruments and should be valued differently.
- Token pricing often back-calculates from expected public market cap, creating mismatches.
Tokens Shorten Investor Time Horizons
- Tokens shorten investor liquidity horizons, letting investors test risky bets faster.
- Expect token-focused investors to substitute token liquidity for traditional exit timelines.
Raise Like Sales: Pitch, Listen, Iterate
- Pitch relentlessly and treat fundraising like sales by iterating from feedback.
- Use warm introductions and every network to get meetings rather than relying on cold outreach.