Legion Ventures Crypto Fund — Investor Update
Dear Legion Ventures Crypto Fund Investor,
We’re thrilled to be writing to you with the first of many updates regarding the LV Crypto Fund in which we’ve invested the full amount of funds available from the LV NFT Sale. Before we dive into the latest from our investments we’d like to share our thoughts on the increasingly red market conditions.
In a sea of red, only the strongest ships stay afloat. As much as this market pains many investors in the crypto space, there’s no doubt that what awaits us on the other side is a digital, crypto-powered, revolution. One free of vaporware, a digital ecosystem in which only projects that add real tangible value will thrive.
When we announced our professionally managed crypto fund back in January of 2022, we included this statement:
We’re on track to prove to the crypto ecosystem that a crypto-focused fund is one of the best ways to invest capital in the crypto ecosystem come bull or bear.
To this point, we’re still firm believers. Capital has been managed efficiently and only the best projects, which share the same long-term vision as Legion Ventures, were pursued.
Warren Buffett once said that it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.”
Now, let’s dig into the status of the projects which make up the Legion Ventures Crypto Fund:
Arcade is the Game-fi platform that gives token holders the opportunity to earn meaningful rewards, from various Play-to-Earn metaverse games, without requiring gameplay or asset ownership. Arcade owns the assets and through the strategic infrastructure of guilds, players, and game developers, in-game earnings are passed along via their revolutionary mission pools concept.
With the global gaming industry set to hit $222B this year, and the likes of Ubisoft and other gaming giants considering the value of blockchain tech within the gaming industry, we’re backing the pioneers in the play-and-earn industry.
Matry creates cross-chain liquidity for the NFT Market. The process of being able to earn cryptocurrencies passively, for simply being the owner of a specific NFT (which yields such rewards), is called NFT Staking.
Owning an NFT powered by Matry, enables users to stake their NFT assets on a periodic basis — whether daily, weekly, monthly or yearly, may depend on the NFT and its specific DeFi configurations which were selected by the original NFT creator.
For many individuals, particularly outside of the cryptoverse, NFTs are simply ‘digital art’. By leveraging their S-tier user experience and interface, Matry aim to lead the way in showcasing the flexibility of NFTs by integrating liquidity, DeFi, and GameFi directly into the tech.
Chillville is the first-ever ‘Masterverse’, where all Metaverses connect and participate in P2E (Play To Earn) games and activities. P2E activities include Mining (mTokens such as mBTC, mETH, mSOL, mADA, mGOLD, mOIL, mUSD and more). Other P2E activities include Acquiring & Renting Land, Sports, Racing, Battling, Boxing, Real-Time Jobs, VR Experiences, and many more.
According to some, the Metaverse ecosystem is set to be valued at $5T in 2030. Although that might be a little high in our books, there’s no doubt that the Metaverse is an experimental next step in the way we interact.
Crypto is global, and Mara is set to spearhead crypto adoption throughout the world’s 2nd largest continent; Africa.
Mara recently raised $23m from the likes of FTX and Coinbase Ventures to build Africa’s portal to the crypto economy.
Digital finance, fintech, and crypto, are exploding on the African continent and we’ve decided to back crypto-natives to deliver the best and most accessible crypto experiences possible.
Breed, train & build your race team in your quest to move up the ranks and become champion of the universe. Astro Hounds is a metaverse experience that transports AR and VR into the world of NFT gaming with AAA quality.
It is a hybrid network of immersive gameplay with asset ownership that offers real financial rewards: a breakthrough in the entertainment space made possible only by WEB3.0.
Despite the breakdown of Terra and UST, the Astro Hounds team is pushing through with development. One of the key aspects we base our investment decisions on is the team behind the project, and the team at Astro Hounds is stellar.
“Build a diversified long-term portfolio of digital assets in a single click”
NeoFi is powered by a robust security framework, 24/7 customer support and insurance against hacks and rug pulls. In addition to from unparalleled security and expert advice, users of NeoFi can also earn passive income by staking unused assets.
Compound your crypto assets by earning a high yield from your unused crypto assets.
With tech that’s already being leveraged by Huobi and Bybit, NeoFi takes the complexity out of crypto onboarding. We’re firm proponents of security and customer experience, this is reflected by the NeoFi team which made them a perfect fit for the LV Crypto Fund.
DCD is a GameFi Infrastructure Protocol, built to help gamers build games, integrate DeFi elements, and launch with reduced time-to-market. We aim to unite all participants in the GameFi industry: developers, game operators, affiliates, and players on a single platform.
Echoing the same sentiment as Arcade, the infrastructure and tooling required to build Web3 gaming platforms are still being built out. With this in mind, we’re supporting the developers and teams who are developing the foundations on which the future of Web3 gaming will sit.
Metavision is developing a virtual environment like no other. Partake in life experiences, host businesses, conferences, events, and a wide range of activities.
Buy & sell virtual clones of physical products in social environments like Malls/Shopping Centers. Purchase a storefront and offer NFTs or take part in the varying gaming activities/quests to earn a living.
The team at MetaVision has responded to the market conditions with an update to their tokenomics. You can review that here.
The elasticity and malleability of the team, as we’ve seen with their tokenomic revamp, is one of many factors we take into account when considering backing a particular project.
MetaRails is the first play-to-earn train game to hit the tracks in the metaverse.
Collect highly detailed 3D trains, custom-paint them, and custom-build a transport system with buildings and railroads for your trains. MetaRails has idle gameplay and an easy-to-use builder tool for a relaxing and rewarding gaming experience. Available on PC and VR/AR.
Many ‘play-to-earn’ games fail to prioritise gameplay and rely exclusively on incentivisation to encourage players. At MetaRails, the team is focused on developing engaging gameplay with the added bonus of rewards.
NearPad (Now Pad.fi)
“The DeFi hub of the NEAR ecosystem.”
Pad.fi are developing a suite of tools for the NEAR Ecosystem, including a launchpad and DEX aggregator.
NEAR is one of the most well-funded layer 1s in the entire crypto ecosystem, raising $500m in 2022 alone. The Pad.fi team are shaping up to be foundational in the growth of the NEAR ecosystem.
Myria is a decentralised Ethereum Layer 2, built to empower digital assets, NFT and blockchain gaming.
With a team of more than 92 individuals, Myria is a self-funded project which has opted to sell nodes rather than token allocations.
We’re bullish on infrastructure that will pave the way for future builders, hence Myria was a no-brainer.
The past few months have been particularly turbulent for the cryptocurrency industry. However, the genie that is blockchain tech is well and truly out of the bottle. In future years, we’ll look back at Celsius, Terra, and other similar events as speed bumps on the journey that is the blockchain revolution.
Legion Ventures is here to stay. Thank you for your continued support.