Dr. Kurt Overley talks to More Than Money about investing in blockchain, the value of marketing and Web 3.0

In the latest episode of More Than Money, Dr. Kurt Overley spoke with CoinGeek’s Patrick Thompson about investing in the blockchain industry, the value of marketing, and what Web 3.0 is.

Introducing Dr. Kurt Overley

Dr. Overley introduces himself as co-founder of Coruscant LLC Family Office. He and his brother founded it, and both are Wall Street veterans with long investment records. He says he is “happy to be here and to be invested in some of the great companies that are building on Bitcoin SV.”

What value can family offices and VCs add to blockchain entrepreneurs?

Dr. Overley notes that blockchain is a very “engineering-heavy ecosystem.” He points out that although engineers may be good at making products, they don’t always know how to run or market a business.

In his view, Bitcoin SV is much less hype-driven and tends to be solution-driven. However, he says the “if you build it, they will come” strategy is terrible in his extensive experience. This is where business experts such as family offices and VCs can add value.

How do the construction products and services at BSV get outsiders to come in?

Dr. Overley says this is where family offices can come in. Many of them have built successful businesses and can provide additional capital to hire marketing talent to handle client acquisition. This capital can also buy strategic advice and consultancy from what he calls “people with gray hair”.

Are businesses having trouble raising money right now? Are VCs themselves struggling to raise capital?

Thompson points to the ongoing economic problems facing the world right now and asks if this is causing businesses or VC firms to struggle to raise funds.

“It’s definitely a problem, unfortunately, even though it shouldn’t be,” says Dr. Overley. He believes that because Bitcoin SV is about enterprise software solutions, this shouldn’t be a problem because the ecosystem isn’t about “here’s a flashy crypto and the number goes up.” That said, he reiterates that it’s a problem right now because pockets of wealth and resources have been severely affected by what’s happening globally, which affects the allocator’s wallets.

How did Dr. Overley find his way into the Bitcoin SV ecosystem?

Dr. Overley explains how he and his team actively go out and attend investor conferences to find opportunities and search for interesting new ideas.

At one of these conferences he met Unbounded Capital and he liked their contrarian thesis and focus on building real value. He was impressed by their view of BSV as a universal source of truth and its micropayment capabilities, and he thought these could be disruptive.

“I’ve been in the financial markets for more than three decades, and I’ve never come across anything that remotely compares, in my opinion, to the disruptive things that are going to happen around the use of this Bitcoin SV technology,” says Dr. Overley says.

What does Dr. Overley see today regarding the companies trying to raise capital?

Thompson says he feels family offices and VCs have a unique vantage point to see what’s happening in the industry at any given time since they likely have companies coming to them asking for investment. He asks what trends or patterns Dr. Overley sees today.

“I see less DeFi. I think now there’s more focus on Web 3.0, content ownership … and gaming,” he says.

Thompson takes a closer look at games, noting that games are the application many hope can lead to mass adoption. He asks if there are any trends or patterns within that niche.

“There’s just a huge amount of development going on,” says Dr. Overley, noting that much of it is blockchain-related. His family office invests in a fund specifically focused on gaming, but he says the fund, to his regret, doesn’t have many Bitcoin SV investments yet.

How would Dr. Overley describe Web 3.0?

Thompson says he’s heard so many people give so many different views and opinions on this concept, and he’s interested to hear how Dr. Overley defines it.

Dr. Overley’s answer is unique in that it highlights an important element of Web 3.0. He says Web 1.0 was read-only, Web 2.0 was read and write, and Web 3.0 added ownership. “That’s where NFTs come in, and that’s where play-to-earn comes into it,” he says.

Dr. Overley gives a concrete example of what he means, saying that his own children have spent a shocking amount of his money on skins and in-game items on popular games like Fortnite. He believes that giving players ownership of these items and enabling them to trade is revolutionary.

Are there any BSV companies in Coruscant’s portfolio? If so, why did they decide to invest?

“We are broadly exposed to many Bitcoin SV companies,” Dr. Overley replies, explaining how he is an investor in Unbounded Capital. Apart from that, they have direct investments in UNISOT and NFTY Jigs.

Digging deeper, Thompson wants to know what green flags Dr. Overley is looking for and if he has any tips for VCs, investors and family offices looking to invest in the industry.

Dr. Overley emphasizes that they are looking at many places. They are interested in addressable market share and have a good idea, but they want to see a product that is at least ready for beta testing. He says that while they have invested in pre-revenue companies before, they generally expect to see customers and revenue.

Thompson asks if Dr. Overley has an opinion on raising and issuing equity by issuing tokens. He replies that he has seen it, but he is skeptical and would much rather own a real financial stake in the business. That said, he encourages entrepreneurs to take advantage of the demand for such tokens.

Does Dr. Overley have a general takeaway for viewers?

Dr. Overley responds that he and his firm would love to compare notes with others in the area. He says they’re always looking for interesting ideas and opportunities from other investors and entrepreneurs, so he’d like to hear from both.

Key takeaways from this episode of More Than Money

• Engineers need legitimate marketing teams and strategies.
• Equity is best, but there is high demand and unique benefits in coin and token offerings.
• Investors prefer finished products that generate income.

See: BSV Global Blockchain Convention panel, Tokenizing Assets & Securities on Blockchain

New to Bitcoin? Check out CoinGeeks Bitcoin for beginners section, the ultimate resource guide for learning more about Bitcoin – originally envisioned by Satoshi Nakamoto – and blockchain.