Investor who called Crypto Bottom says other projects are ‘less explosive’ than Ethereum (ETH) and Solana (SOL)
An investor who correctly called the 2022 crypto bottom says Ethereum (ETH) and Solana (SOL) are ahead of the curve when it comes to pulling in more users.
In a new interview on Real VIsion with macro guru Raoul Pal, Chris Burniske, a partner at venture capital firm Placeholder, says that cryptoassets competing with Ethereum (ETH) and Solana (SOL) have less potential when it comes to leveraging network effects.
According to Burniske, although interoperable blockchains such as Polkadot (DOT) and Cosmos (ATOM) made more “logical” design choices, they are not as attractive as Ethereum and Solana.
“[Polkadot] is still a top-20 network, and I don’t think it’s going away, but it’s important for people to pay attention to the differences in design and use of cryptoassets, because it’s a big one. That’s where I see ETH and SOL as pretty similar, and some of the other designs. They made more rational or logical decisions, I would say, but they are less explosive or less prone to network effects.”
Burniske goes on to say that he and his company are interested in investing in the future infrastructure of blockchains, as well as crypto projects focused on creating decentralized applications (DApps).
“In the public markets, it’s been buying the distressed, important infrastructure for the next expansion… They’re big teams, they’re well-funded, they’re liquid. It’s kind of like being able to buy Microsoft and Amazon and those kinds of names after the dot-com crash…
Right now, at least at the venture stage, because again, I have all this infrastructure exposure in the public markets, the venture stage, I’m more drawn to application stuff, and so that would be things like Tensor, which is built on Solana. So it’s an NFT [non-fungible token] exchange built on Solana, truly native experience. It’s a bit like TradingView or Bloomberg of NFTs…
[Another example would be] Vault. Vaults are basically programmable environments where artists can launch experiences for their best fans. They’re starting with the music industry because the music industry has lost a lot of revenue because the top fans can’t interact with artists the way they used to, and Vault is trying to create that in a digital environment.”
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