Venture Capital Firms: The Rainmakers Behind the Web3 Revolution
At midnight, Ethereum founder Vitalik Buterin paced around the ETHWaterloo hackathon, surrounded by dozens of developers curled up in sleeping bags—their screens flickering with unfinished code. This was a common scene in 2017: a group of geeks fueled by passion and pizza, striving to rebuild the world with blockchain, only to falter before dawn due to a lack of funding.
Then, venture capital entered the scene and changed the rules of the game.
Today, as we host concerts on virtual islands in The Sandbox, swap cross-border assets instantly via Uniswap, or earn rewards by burning calories in STEPN, few realize that behind these disruptive applications—from lab experiments to reaching billions of users—there are invisible forces at play: Web3 venture capital firms. They are the “rainmakers...