A thesis-driven crypto venture firm that builds alongside our founders.
Tweets are not investment advice or recommendations.
GPs:
@pythianism
&
@im_manderson
1/ Framework Ventures has raised $400 million for our third crypto fund, dubbed โFVIIIโ, bringing our total AUM over $1.4 billion.
Approximately half, or $200 million, is earmarked for the rapidly growing blockchain gaming space.
@business
:
"If Bitcoin is digital gold, Ethereum is Apple. It's the app store of finance."
@pythianism
breaks down why institutions might be thinking differently about the Ethereum ETF.
Full ๐ฝ๏ธ in comments ๐๐๐
.
@pythianism
talks stablecoins w/
@SchwabNetwork
:
"It's an outright hostile [regulatory] environment, but there's STILL $150 billion of stablecoins on-chain.
What does that look like if there's a positive environment? Probably trillions. That's just positive for the US dollar"
1/ Today, we're excited to announce the launch of the Framework Tent, a token-gated knowledge base for
@hiframework
's Platform.
Over the next few hours, over 100 NFTs will be minted and provided to Founders in the Framework Ventures Portfolio.
Thanks to our incredible backers and team, we've raised $100 million for our second fund! We're thrilled to announce this latest milestone as we continue building out our vision. ๐
1/ Today, web2 has tools to benchmark comp data like Glassdoor. In web3, founders and employees mostly are flying blind.
To help the community navigate, we are open-sourcing data from across our portfolio to create a comprehensive guide to comp in web3.
1/ bm
We just co-led a $100 million round in
@berachain
, an EVM-compatible layer 1 blockchain built on the Cosmos SDK and powered by the novel โProof of Liquidityโ consensus mechanism.
@Bloomberg
article + short ๐งต on why we're becoming beras ๐ปโ๏ธ๐
1/ We're pleased to announce that Framework Ventures has made a strategic investment in the Immutable ecosystem, a purpose-built platform for crypto gaming that we think has both the momentum and the technology to service a real consumer adoption wave.
A brief ๐งต๐๐๐
1/ We just co-led an $85 million round in Sentient (
@sentient_agi
), an AI research organization creating a new Open AGI Economy for AI builders and creators.
Here's why we're excited to back this team ๐๐งต
1/ Today in
@business
: Framework Ventures has led a $30 million Series A round in
@Stardust
, a platform we think will become the "Coinbase of web3 gaming".
Below, see full article by
@hgmiller29
+ a breakdown on the deal ๐งต๐
Since 2017, our team recognized the fundamental role Chainlink would play within the broader DeFi space. We're excited to expand our contribution to the ecosystem by operating the core infrastructure that powers a significant portion of the DeFi economy!
DeFi is booming...Framework is too. Thrilled to announce some outstanding additions to our team โ John DiCerbo, CFO, Ray Pulver, CTO and Roy Learner, Principal.
@pythianism
on the ETH merge
@Permissionless
:
"You're going into a scenario where you're going to have all of the structural sellers, all of the structural supply wiped out at one point, and I think thats going to be powerful in a way that people don't fully realize."
๐ฝ๏ธ๐
Two years ago we read the
@chainlink
whitepaper and saw a future where the boundary between smart contracts and oracles becomes fluid. We are still one of the largest holders and are committed long term. Here is where our head is at today
1/ We just co-led the $2 million seed round for
@VoltProtocol
, an inflation-resistant stablecoin protocol that uses CPI data pulled on-chain via
@Chainlink
.
Basically, we think Volt could give users the ability to maintain their purchasing power in inflationary times.
A ๐งต๐
1/ We just co-led a $12M round for Slide, a startup building products that improve web3 UX for normal people.
For the next hundred million users to join web3, our industry needs a UX overhaul.
We think
@SlideWeb3
will play a massive role in this change.
.
@SchwabNetwork
: We've had some really prominent guests come on and express caution about Bitcoin and that it's used by bad guys...
@pythianism
: How old were these people?
1/ We just led a $24 million Series A for
@Immunefi
, web3's leading bug bounty & security services platform.
It's our largest check ever.
We think Immunefi can overhaul security in web3 by changing incentives for hackers, rewarding them for being heroes.
1/ We just led a $10 million round for
@MightyBearGames
, a traditional game studio that's launching a blockchain division to develop a series of immersive, AAA, web3 games with an emphasis on fairness and fun.
A short ๐งต๐
1 / We just co-led a $20M round in
@SpaceandTimeDB
, a blockchain-native database that makes it easier to build apps and train AI agents with verifiable data.
@FortuneMagazine
article by
@leomschwartz
+ thread๐๐๐
"Framework Ventures, a $100-million venture capital fund and the biggest investor in the DeFi space, believes DeFi will soon have its mainstream moment"
Weโre super excited to share v2 built by
@Qaaj
and incubated within Framework. Itโs purpose is to serve as the
@etherscan
equivalent for the
@synthetix_io
ecosystem. We hope you get as much use out of it as we do!
@pythianism
talks to Bloomberg about the Bitcoin ETFs and how new inflows may impact other areas of the market, including crypto gaming.
"This might sound strange, but its actually hard to get the coins...it could get wilder than people think."
1/
@VentureBeat
: Framework has led a $6M raise for ArenaX Labs (
@aiarena_
), an AI tech company that educates people with AI games!
Funds will be used to launch AI Arena, new game where players can train, collect, and battle intelligent AI fighters ๐๐งต
2/ A key lesson we learned as the largest private investor in
@Chainlink
:
When a new sector emerges in crypto, vertical winners don't waste time rebuilding core infrastructure from the ground up.
For example, DeFi projects that spend months rolling their own oracles = NGMI.
1/ We just led a $7M round in Spearbit, a security firm that wants to completely overhaul code audits in web3.
Spearbit plans to launch
@cantinaxyz
, an open, reputation-based audit marketplace that empowers freelance whitehat talent.
๐งต +
@TechCrunch
๐
1/ We just co-led a $10M round for
@Jito_Labs
, a MEV infra company building the first 3rd-party validator client for Solana.
We believe Jito Labs' suite of solutions will help scale Solana, curb spam, & make MEV more democratic, transparent, & accessible.
On CNBC,
@pythianism
breaks down the crypto markets post ETFs:
"The market has bifurcated...Ethereum and Bitcoin [are] getting all the tradfi inflows. And those are HUGE flows.
And then the rest of the market are competing for these retail inflows..."
"Chainlink is on track to function as [the decentralized web3's] de facto security layer for any and all transactions of meaningful value." -
@im_manderson
1/ We just led a $10M seed round for
@SpaceandTimeDB
, a
@chainlink
-powered, decentralized data warehouse for blockchain apps that can generate analytical insights in a decentralized, low cost, & secure way.
We think Space and Time can bring trustless analytics to web3.
๐งต
1/ We just co-led a $10 million round for Chainflip Labs, the company building
@Chainflip
- a cross-chain AMM with native asset swaps (no wrapped tokens).
Basically, we think Chainflip could be the protocol that finally makes cross chain swaps easy for end users.
A short ๐งต๐
1/ We just co-led the $5.2 million seed round for
@BundlrNetwork
, a lightning fast, multi-chain scaling solution for Arweave, a decentralized data storage network that stores data forever on the "Permaweb".
Basically, we think Bundlr will scale Arweave.
A thread ๐งต๐
The news is out!
Thrilled to announce that we raised a $5.2 million seed round from incredible lead investors:
@hiFramework
,
@ArweaveTeam
,
@hypersphere_
, and
@permanentvc
We are excited to continue making it fast and easy to store data on web3!
1/ We just led a $7 million round for Thirdwave (
@thirdwavelabs
), a blockchain discovery engine.
Basically, we think Thirdwave can drastically improve user data insights in web3, letting teams (starting with gaming) truly understand their customers.
We're excited to announce that Framework has officially joined
@_SEAL_Org
as a founding partner and donor!
With the emergency hotline, Whitehat Safe Harbor Agreement, & war games, SEAL is a massive step forward in crypto security.
S/O
@samczsun
for leading the initiative!
Is blockchain gaming going to be the biggest market in crypto?
Join us on spaces this Friday at 3:00pm ET.
@pythianism
&
@im_manderson
will be talking Frameworkโs new $400M fund, crypto gaming, and our outlook for 2030.
Set reminder here
1/ We just co-led a $5 million round for
@GoGoPool_
, a decentralized staking protocol for Avalanche.
Basically, we think GoGoPool could increase access to staking and significantly improve the process for launching subnets.
๐งต๐
On CNBC,
@pythianism
breaks down how hedge funds and other institutions are thinking about the ETFs:
"I think more and more people are going to have a 50-50 Bitcoin and Ethereum [ETF] allocation going forward."
1/ We just co-led a $5M strategic round for
@SocketDotTech
, an interoperability protocol that enables asset + data transfer across blockchains.
Funds will be used to scale Socket + integrate with Coinbase products like Coinbase Wallet and BASE.
@pythianism
on crypto gaming at
@Permissionless
:
"The math on gaming is very clear. There's 3B people who play games a year. There's 1.5B people with an internet connection who make less than $5 a day. These people will be the first natural users of play to earn games".
๐ฝ๏ธ๐
The Illuvium team has set out to educate and move traditional gamers into the world of decentralized and community-run gaming. We're proud to back them! ๐ช
"We're seeing this spike as the chainlink network is getting scaled usage powering DeFi, connecting on-chain DeFi smart contracts to off-chain data feeds like commodities and crypto price data" -
@iam__vance
comments on Chainlink's price surge
@ForbesCrypto
"Tether, one of the largest buyer of US treasuries, is overseas.
That is absolutely embarrassing...We should be rooting for any growth industry with entrepreneurs to stay here [in the US]."
Full
@pythianism
Bloomberg interview in comments ๐๐๐
"Chainlink is benefitting from the shift in focus from base layer smart contracts like Ethereum to oracles, which began in 2019." -
@iam__vance
@chainlink
While bitcoin and the broader crypto market fell during Q1 amid a global crisis, a few coins outperformed. Here are a few notable winners and losers.
Report by
@godbole17
based on data from
@coindeskdata
's forthcoming Quarterly Review
Is GameFi a fad or the future?"
At
#SmartCon2022
,
@pythianism
&
@Fortune
โs
@itstaylorlocke
discuss web3 gaming, including:
- consumer adoption
- lessons learned from Axie (P2E vs P&E)
- incentives for players and developers
- IDFA's death & impact on rev models
Full๐ฝ๏ธ soon..
Like many in the crypto space, we submitted a comment letter to FinCEN urging the withdrawal of its recent Proposal on legacy rules for cash onto cryptocurrencies.
1/
@Axios
: We just co-led a $8.75M round in asset tokenization protocol
@MidasRWA
.
We think their unique approach to yield-bearing stablecoins can attract new users and create new DeFi use cases during periods of normalized interest rates.
๐๐
Our co-founder
@pythianism
sat down with
@nlw
of
@CoinDesk
's
@BreakdownNLW
to discuss everything from blockchain gaming, the path forward for DeFi, the social disruption of play-to-earn, crypto investing during uncertain times and more.
Don't miss it:
This week,
@pythianism
sat down with
@BusinessInsider
to discuss:
- The origin of
@hiFramework
& the firm's recent hyper-growth phase
- Our recent moves (FVIII) in the crypto gaming space
- The state of the crypto market in the aftermath of UST
๐๐
Is blockchain gaming going to be the biggest market in crypto?๐น๏ธ
Join us today on spaces at 3:00pm ET.
@pythianism
&
@im_manderson
will be discussing why we've earmarked half ($200M) of our new fund for this sector.
Set reminder here ๐
1/ We just co-led a $10.5M round for
@Satellite_im
, a decentralized communications platform that enables p2p private messaging.
Basically, we think Satellite could become the Discord of web3.
.
@pythianism
: Just like how tech investors might purchase a basket of FAANG stocks, I think many investors will soon seek new types of crypto exposure beyond Bitcoin ETFs, and the launch of the Ethereum ETF will kickstart that trend.โ
Full
@Blockworks_
article ๐๐๐
1/ Today in
@TheBlock
: Framework Ventures has co-led a $3 million round in
@Daylight
, an API and web app that indexes and aggregates a web3 user's abilities (mints, airdrops, token gates etc).
Full article by
@karivmcmahon
& short ๐งต๐
1/ We just co-led a $6M round in Open Social Protocol (
@OpenSocialLabs
), a composable infrastructure layer for building social apps.
We think the OpenSocial team is positioned to become a major player in the growing SocialFi movement across Asia.
Full
@TheBlock__
article & ๐งต๐
1/ We just joined the $14M seed round for
@Polemos_io
, a major gaming guild and gamefi platform.
Basically, we think Polemos could supercharge web3 games by increasing player access, building competitive teams, participating in governance, and more.
A brief ๐งต๐
โPeople are incredibly excited for Chainlink to help usher in an era of mainnet enterprise applications as a part of initiatives like the Baseline Protocol." -
@iam__vance
@chainlink
LINKING IT TOGETHER: Chainlinkโs link token is outperforming bitcoin by leaps and bounds, as the oracle networkโs various use cases have garnered investor attention, leading to a self-feeding bullish cycle.
CoinDesk's
@godbole17
reports
.
@pythianism
went back on Bloomberg last week to discuss the Ethereum ETF approval.
"When people think about the Magnificent 7, they don't go all in on one of them"
Full ๐ฝ๏ธ in comments ๐๐๐
1/ We just led a $7 million round for
@KryptonProtocol
, a DEX designed to help users achieve the best execution on their trades.
Basically, we think Krypton can enable a new format of crypto trading that could appeal to institutional & retail users.
Our co-founder
@im_manderson
will be speaking at
@blockworksDAS
in London next March.
Last year's event was excellent and the numbers for DAS 2024 already look strong ๐
#DAS2024
1/ We just co-led a $9M round in
@Mira_Network
, a decentralized infrastructure platform that aims to expand access to advanced AI.
See below for a thread + full article in
@TheBlock__
๐๐๐
Check out Michael Anderson's commentary featured in Bloomberg's recent article on Chainlink: โThis is one of the things thatโs unique to the blockchain, where the community is very powerful.โ
With the Merge around the corner,
@im_manderson
jumped on
@CNBC
with
@KenzieSigalos
to discuss its implications for the Ethereum network, competing L1s, and the wider VC landscape.
Full ๐ฝ๏ธ๐
In a recent Frame Space,
@pythianism
asks
@skilllevel7
(ex Ubisoft/King) how he sees blockchain gaming adoption playing out over the next 2 years.
Short ๐ฝ๏ธ๐
In the aftermath of
#FTX
, we spoke to
@jacqmelinek
of
@TechCrunch
about the importance of DeFi and why this sector continues to give us hope for the industry.
We also discussed the need for better regulation of CeFi.
Read ๐๐๐
Apple & Google killing the IDFA basically rugs the business model for smaller game developers.
Can't advertise to targeted users = game devs will move towards blockchains as the more viable economic option.
@im_manderson
and
@JasonYanowitz
discuss on
@theempirepod
:
What is the best model for a web3-native gaming studio?
Join us on Frame Space this Friday at 11:00am ET.
We're having on
@mightybeargames
- gaming OGs that just raised $10M to roll out a web3 arm for their studio.
Set a reminder ๐๐๐
1/ Today in
@CoinDesk
: Framework Ventures has led a $5.5M round in
@DFlowProtocol
, a permissionless and decentralized payment for order flow protocol that creates a new way for wallets to monetize their platforms.
๐งต๐
2/ These NFTs will give founders exclusive access to curated lists of recommended partners, providers, and shared knowledge from across our ecosystem.
Over time, we expect this portal to grow into a full-service platform with data, content, events, partnership opps and more.
Is the bear market a gift?
@pythianism
appeared on
@BanklessHQ
to discuss:
- Lessons from the last cycle
- Which alt L1s are most likely to survive
- The future of Ethereum & L2s
- The GameFi rabbit hole (big consumer moment)
- DeFi 2.0 (vertical vs horizontal)
A quote from
@im_manderson
featured in
@WSJ
today, "Over the last three years, weโve seen the industry mature to the point where venture rounds are now more standardized based on the capital necessary to reach benchmarks at each stage of growth.โ
One of the coolest elements of the
@optimismPBC
airdrop is that it includes many people who previously felt priced out of using the Ethereum main chain (i.e. bridgers)
On a recent episode of
@BanklessHQ
,
@jinglejamOP
shouts out Framework for this design contribution ๐ดโจ๐๐ฝ๏ธ
1/ We just co-led the $2M seed round for
@DFlowProtocol
, a protocol for the worldโs first decentralized order flow market.
We think DFlow could be a game changer for trading order flow in crypto, enabling serious institutional market makers to finally enter DeFi markets.
๐งต๐
Over the weekend,
@pythianism
spoke to
@BusinessInsider
about how the upcoming Ethereum merge could affect network supply issuance and impact early stakers.
Not investment advice, a recommendation, or a guarantee of performance.
โDefi has a real opportunity to be the industry within the blockchain space that grows the most in 2020." Thanks
@ForbesCrypto
for taking the time to speak with us!
10/ We were born and raised in crypto.
This is not just some new and trendy coverage area for us.
Whatever happens to this industry over the coming years, we'll still be there, working alongside our founders.
"An L1 is basically a euphemism for saying 'well this could be valued like Ethereum potentially at some point...'"
Short
@ForwardGuidance
๐ฝ๏ธ below on why
@pythianism
is skeptical of alt L1s ๐ ๐ ๐