Original author: dLux, a cryptocurrency researcher.
Translated by: Leo, BlockBeats.
Coinbase Ventures is a well-known name in the cryptocurrency industry. This venture capital firm was established in 2018 and has been one of the most active investors in the industry. Looking at Coinbase Ventures' investment history, we can see that in 2018, they invested in Compound and OpenSea, while in 2020, they invested in Synthetix and Uniswap. It can be said that Coinbase is a gem hunter in the industry. Cryptocurrency researcher dLux has written about four companies that Coinbase has invested in, and BlockBeats has compiled the following:
Investment Diversity
Here are the 4 companies that were included in Coinbase's investment portfolio in May:
In early May, zkLink, a multi-chain unified trading infrastructure based on zero-knowledge proof, announced the completion of a $10 million financing round with participation from Coinbase Ventures. zkLink is committed to "providing support for next-generation decentralized trading products such as order book DEX and NFT markets by connecting various L1 and L2." zkLink separates all the complexity of multi-chain transactions while maintaining its ultra-security and loyalty to the crypto spirit.
About a week later, Coinbase Ventures once again invested in the decentralized exchange protocol Dolomite in the cryptocurrency market. Dolomite is a margin trading and lending protocol built on Arbitrum, offering composable margin trading and lending, supporting thousands of different assets as collateral.
In mid-May, Coinbase Ventures participated in a $4.2 million seed round funding for Hourglass, a time-bound token infrastructure protocol. The protocol is building a market aimed at helping users who are willing to lock assets within the protocol for a certain period of time by providing additional rewards. After locking assets within the protocol for a period of time, users will receive a TBT (time-bound token) that represents their commitment to the protocol, which is also a staking asset in DeFi protocols. The protocol can also provide additional incentives based on the length of time.
Coinbase Ventures' latest investment in May came from digital asset data provider PYOR, which aims to provide institutional-grade digital asset data and insights. The project's first product (PYOR Terminal) is already in the testing phase, aimed at helping users understand the factors behind specific results in the digital asset field, such as increasing TVL or increasing trading users. The project does not simply provide factual information, but rather professional insights derived from research and analysis of its node infrastructure.
Conclusion
The bear market is still ongoing, but Coinbase Ventures remains an active VC in the industry. Each company has an interesting value proposition with the potential for PMF, and only time will tell the ultimate outcome of these investments.
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