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Crypto and earn a free pass to ZebethMedia Disrupt 2023 • ZebethMedia

It takes a lot of people to bring a tech conference to life, and we’re looking for a few amazing volunteers to support our events team and help make TC Sessions: Crypto an awesome experience for our attendees. If you’re amazing, crypto curious, a DeFi die-hard, big on blockchain, wild about web3, interested in event planning — or all of the above — apply to volunteer at TC Sessions: Crypto, which takes place on November 17 in Miami. We expect around 1,000 people at this event, and volunteers will handle a variety of tasks. At any given time, you might help with registration, wrangle speakers, direct attendees, scan tickets or help with general event setup. What’s in it for you? Fair question. If you’re selected, not only will you get a behind-the-scenes look at how events are produced, but you’ll also earn a free pass to attend ZebethMedia Disrupt 2023 next year in San Francisco on September 19–21. Plus, when you complete your volunteer shift, you can attend the interviews and presentations. You’ll hear some of the leading voices in the crypto universe, including Nicole Muniz (Yuga Labs), Amy Wu (FTX Ventures), Changpeng “CZ” Zhao (Binance) and many more. Volunteer spots are limited. If you want to gain valuable event experience; take in all the blockchain, crypto, DeFi, NFT and web3 goodness; and earn a free pass to ZebethMedia Disrupt 2023, then apply to volunteer before November 7 to be considered! Not interested in volunteering? Buy your TC Sessions Crypto pass now and save $150 — before the early-bird pricing disappears. Either way, we’ll see you on November 17 in Miami! Is your company interested in sponsoring or exhibiting at TC Sessions: Crypto? Contact our sponsorship sales team by filling out this form.

Dragonfly, Haun Ventures and Sequoia talk web3 and more at TC Sessions: Crypto • ZebethMedia

While the overall crypto markets have been in a rough spot lately, web3 venture capitalists have never had more conviction — or more funding at their disposal — to back startups and teams building in the space. The big question on their minds is whether tokens and startup valuations have bottomed out, or if they need to wait a bit longer to score the best possible deal. When to place your bets is a delicate balance in any tech sector, never mind one as rambunctious as crypto. That’s one reason why we’re stoked that Chris Ahn, partner at Haun Ventures; Michelle Bailhe, partner at Sequoia; and Tom Schmidt, general partner at Dragonfly will join us onstage at TC Sessions: Crypto on November 17 in Miami. We’re looking forward to hearing Ahn’s take on how the regulatory landscape is evolving in crypto, both in the U.S. and abroad, and how web3 startups can effectively navigate political and legal uncertainty. We can’t wait to hear Schmidt’s take on what it’s like to be an investor at a crypto-native VC firm as more traditional venture firms move into the space. Is Dragonfly as optimistic about the crypto market as it was last April when the VC firm closed its third venture fund to the (oversubscribed) tune of $650 million? Inquiring minds want to know. Meanwhile, Bailhe brings valuable perspective — from her standpoint as a generalist growth investor at a venture firm that made its name in web2 — on how the web3 space is developing relative to the broader tech ecosystem. We’ll be sure to ask all three panelists how their firms are navigating the competitive dynamics between crypto-native investors and tech VCs with broader mandates for the best web3 deal flow. Chris Ahn, a partner at Haun Ventures, leads investments at both early and acceleration stages. Previously, Ahn was a partner at Index Ventures and led the firm’s crypto efforts, including investments in Fireblocks and Bridge. Prior to joining Index, Ahn helped build and lead the strategic finance and business operations teams at GitHub, and he led the acquisition with Microsoft. Ahn also spent time at Hellman & Friedman and started his career at Morgan Stanley. Michelle Bailhe, a partner at Sequoia, focuses on crypto, software and internet investments. She is involved with Sequoia’s investments in FTX, LayerZero, Fireblocks, Pilot and more. Prior to Sequoia, Bailhe worked at Hellman & Friedman, Google and McKinsey. Prior to joining Dragonfly as general partner, Tom Schmidt led product at 0x, and he worked as a product manager at Facebook and Instagram. Schmidt holds a degree in computer science from Stanford. Take advantage of early-bird pricing. Buy your pass today, and you’ll save $150. Then get ready to join the web3, DeFi and NFT communities at TC Sessions: Crypto on November 17 in Miami.

Warner Bros. teams up with web3 startup Eluvio to launch ‘Lord of the Rings’ NFTs • ZebethMedia

Warner Bros. Discovery has partnered with blockchain company Eluvio to launch tomorrow “The Lord of the Rings: The Fellowship of the Ring” (Extended Version) web3 movie experience, with limited-edition multimedia non-fungible token (NFT) versions of the movie. “The Fellowship of the Ring” NFTs feature a 4K UHD, 3-hour-and-48-minute extended version of the 2001 film, over eight hours of bonus footage and commentary, image galleries and hidden AR collectibles. There are two editions that fans can choose from. Warner Bros. and Eluvio are minting 10,000 copies of the Mystery Edition, priced at $30 each, which comes with one of three location-based navigation menus modeled after a location in the film. There will be 999 copies of the Epic Edition, which are $100 each, and include all three location menus — The Shire, Rivendell and Mines of Moria. The Epic Edition will also come with exclusive bonus image galleries. Image Credits: Warner Bros./Eluvio Eluvio is rolling out the NFTs via its Ethereum-compatible blockchain. On Friday, October 21 at 9 a.m. PDT/ 12 p.m. EDT, “Lord of the Rings” fans can head to web3.wb.com/warnermedia/movieverse and create an Eluvio media wallet. The “Fellowship of the Ring” NFTs will be available to purchase with credit cards, debit or cryptocurrency. Once purchased, you can launch the web3 movie experience and stream the extended movie from the media wallet. This is the first set of NFTs available in the company’s new “WB Movieverse,” which Warner Bros. and Eluvio call a “multimedia living movie experience.” According to the website, two more NFT experiences are “coming soon.” “Warner Bros. Home Entertainment is setting a new bar for innovation in the distribution of home movies by demonstrating the potential of web3 for consumer engagement, digital supply chain transformation, and new business opportunities,” said Michelle Munson, CEO and co-founder of Eluvio, in a statement. Updated 10/20/22 at 2:03 p.m. ET with a statement from Eluvio.

Layoffs and H1-B visas, SaaS growth levers, blockchain startup tips • ZebethMedia

For cash-strapped SaaS startups trying to reach scale, the math doesn’t look great. A slump in the public markets has dragged the entire sector down, but customer acquisition isn’t getting any cheaper. In the meantime, runways are shrinking like a wool sweater in an electric dryer, and teams that hope to fundraise better have some good news to show potential investors. So, what’s the plan? “The key is to focus on scaling sustainably by tapping into more overlooked and underrated sources of revenue,” says Paddle CEO Christian Owens. Full ZebethMedia+ articles are only available to membersUse discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription In his TC+ guest post, Owens shares several tactics “SaaS leaders can use to supercharge their expansion revenue,” such as adding upsell tiers and charging customers for priority support. Just for a moment, forget about onboarding new customers. Seed-stage startups that demonstrate strong gains in expansion revenue, i.e., money “generated after the customer’s initial purchase,” will always get a second look from investors. And boosting expansion revenue during a downturn? Well, that’s even more impressive. I won’t be sending a TC+ newsletter on Tuesday, October 18, but will return a week from today with more resources for founders and early recaps from ZebethMedia Disrupt. Thanks very much for reading, Walter ThompsonEditorial Manager, ZebethMedia+@yourprotagonist Dear Sophie: How can I protect my H-1B and green card if I am laid off? Image Credits: Bryce Durbin/ZebethMedia Dear Sophie, I am considering leaving my current, steady job for a job with a big name in tech. I’m excited, but nervous. I’ve been hearing that you can lose your H-1B status if you are laid off. Is there any way I can protect my immigration status while making a bold job move? — Leap of Faith Dear Sophie, My early stage startup hasn’t been able to hire as quickly as I would like due to fierce competition. Now that we’re seeing some movement in the job market, we think we can probably finally compete for some top engineering talent in our budget. How can I hire people who were recently laid off on H-1B? — Strategic Sponsor DIY: 5 ways disruptive component startups can win over OEMs Image Credits: Alan Rubio (opens in a new window) / Getty Images Hardware startup founders have a uniquely hard time. Only a small fraction of tech investors will even take meetings with them, and building product pipelines is often an irregular, chaotic process. Instead of relying on sales and marketing teams to build a customer base for his hardware components startup, Ori Mor’s company started building devices that used his company’s tech. “There’s no point rushing when building a hardware startup,” says Mor. “Instead, start by making just a single prototype that you can use to show OEMs.” ‘Me too’ investing is eating returns Image Credits: Catherine Falls Commercial (opens in a new window) / Getty Images Considering the number of investors who are all-in on e-commerce, fintech, cybersecurity, cloud infrastructure, crypto and B2B SaaS, a room full of VCs might look like a crowd of Spider-Man clones pointing at each other. “Marc Andreessen once said that ‘software is eating the world,’” writes Alan Feld, founder and managing partner of Vintage Investment Partners. “Unfortunately, ‘me-too’ investing is eating returns,” he says, suggesting that investors get out of their rut and explore “four relatively underfunded areas that could produce huge winners over the next 10 years.” How to go from popular to profitable during a downturn Image Credits: Patrik Giardino (opens in a new window) / Getty Images Product-led growth startups are like a car with a manual transmission that needs a push to get going: one driver just can’t do it all on their own. According to Nick Mills, whose sales experience includes stints at Stripe, Facebook and CircleCI, “all companies eventually face a similar challenge: To keep growing, sales teams must be hired and a pipeline must be built.” After explaining how to calculate your serviceable addressable market, AKA “the piece of that pie you can win right now,” Mills shows how to define product-qualified leads that will get sales engines firing on all cylinders. “Telling investors about your viral user growth is no longer enough,” says Mills. “They want to know how it translates to revenue, resilience and runway.” ZebethMedia Disrupt 2022: Taking the BS out of your TAM Every founder must understand the sector in which they intend to compete, but calculating Total Addressable Market (TAM) is a daunting process, especially for first-timers. In reality, TAM just is a planning tool that gives potential investors a better understanding of a company’s upside potential. Next Wednesday, at ZebethMedia Disrupt in San Francisco, I’m moderating a discussion with three investors to find out how they approach TAM and what they’re looking for during a pitch: Kara Nortman, managing partner, Upfront Ventures Aydin Senkut, founder and managing partner, Felicis Ventures Deena Shakir, partner, Lux Capital I’ll ask them to share tactics and strategies for finding TAM, how to calculate it for new products and services, and the red flags they see most often from novice entrepreneurs. Make sure to bring warm layers if you’re visiting SF for Disrupt — if you can’t make it, please join us online. 6 tips for launching a blockchain startup Image Credits: Kinga Krzeminska (opens in a new window) It will take much more than a downturn in the public markets, record inflation and global instability to get between blockchain founders and their dreams. Unfortunately, “having a solid roadmap, real-world use cases and a war chest are only a small part of a blockchain startup’s survival strategy,” advises Wolfgang Rückerl, co-founder and CEO of Istari Vision and Entity. Although it’s true that many of the skills required to launch an early stage startup also apply to web3 companies, “the road to achieving success in the blockchain industry is paved differently,” he writes.

6 tips for launching a blockchain startup • ZebethMedia

Wolfgang Rückerl Contributor These days, a blockchain startup founder should expect to navigate challenging waters. Even in the best of times, founders must both prepare for a bull market and be ready for possibly bearish territory. Having a solid roadmap, real-world use cases and a war chest are only a small part of a blockchain startup’s survival strategy. Founders also need to be aware that while non-crypto startups can offer useful and transferrable launch strategies, the road to achieving success in the blockchain industry is paved differently. Here are tips every blockchain founder should consider before launching. Bear the market conditions in mind Bear markets appear more attractive to blockchain businesses looking to launch. But before suiting up for winter, founders must assess whether it’s worth waiting to launch until market conditions are better. In the web3 world of horizontal technologies, you’ll be running against the wind if you wait to build relationships until you’ve built a technology. Evaluate your startup with the same criteria investors use during a bear market. Investors want to see a strong roadmap with deadlines and benchmarks that don’t simply come and go with no activity, as this is a signal to investors that a slow rug pull is underway. Evidence of a diversified war chest that you can draw from is pivotal, especially when providing returns on locked assets is the main impetus for attaining liquidity. In addition, analyze the market situation from a technical standpoint: The bear market is an attractive time to launch, but it’s also a time to go heads-down and focus on building your product. Regardless of market conditions, make use of your reward programs for loyal community members by offering staking rewards, airdrops and giveaways without needing to raise additional capital, similar to the traditional business world. Opt for longer vesting schedules In the non-crypto startup scene, it’s common to include compensation packages as an incentive for employees to perform well. Blockchain startups do this during the presale period of an initial coin offering using a method called vesting, where they lock and release assets (usually in the form of tokens) over a certain period. In so doing, they give their team, investors and advisers the right to certain assets such as retirement and stock options. If you choose this path, set up the token metrics and the vesting period for the gradual release of these tokens in a way that doesn’t put too much pressure on the token itself. Many crypto projects unlock and distribute their tokens every three months, and they’re finding private investors dumping them on the market, which is bad for the team and the community. In turn, retail investors also begin selling up front because they know a dump is coming. Opt for longer vesting schedules — between three and five years — to show that you have a financial incentive to continue project development. Split the release of the tokens: Release the private sale investor tokens one month, the adviser tokens the next month and the team tokens a month later. If it’s all in one month, the risk for retail investors will be too high. Don’t underestimate crypto regulations

Last day to save hundreds on TC Sessions: Crypto passes • ZebethMedia

We warned you this day would come. You have less than 24 hours left to save $250 on a General Admission pass to TC Sessions: Crypto — taking place in Miami on November 17. Our special launch pricing expires tonight at 11:59 pm PDT, so buy yours now — your wallet will thank you. Now that you’re registered, get ready to go mining for opportunities across the blockchain, cryptocurrency, DeFi, NFT and web3 ecosystem. You’ll hear from industry giants like Binance’s Changpeng “CZ” Zhao, FTX Ventures’ Amy Wu, Alchemy’s Nikil Viswanathan and many more. Here’s a quick look at just some of the day’s hot topics — be sure to check out the agenda so you don’t miss what matters most in your corner of the cryptoverse. Keeping the Web3 Dream Funded: Billions in capital were raised by crypto native funds and web3 VCs during an unprecedented bull run, but as the crypto markets turn bearish, how will investors keep their web3 dreams alive? We talk to Chris Ahn (Partner, Haun Ventures), Michelle Bailhe Fradin (Partner, Sequoia Capital) and Tom Schmidt (General Partner, Dragonfly) about which potential bets are too early, too late and right on time. A Non-Fungible Empire: Few in the crypto space saw the explosive adoption of NFTs happening this quickly, but NFT marketplace startup OpenSea, founded back in 2017, was waiting in the wings. Fast forward to the present day, and there have been tens of billions of dollars in NFT transaction volume with OpenSea handling the lion’s share of those sales. We’re thrilled that OpenSea CEO, Devin Finzer will join us on stage. So far, he’s fended off marketplace competitors from well-funded public behemoths and upstart threats, but can his $13.3 billion startup hold its lead through a bear market? Securing Web3: As blockchain boosters continue to onboard swaths of consumers to their vision of the crypto web, a central question has been how to optimize the underlying tech to keep these new users safe. We’ll talk to a panel of experts with expertise in blockchains, decentralized apps and protocols including Kathleen Breitman (co-founder, Tezos) and Pascal Gauthier (chairman and CEO, Ledger) on how web3 technologists can build a more secure environment.  Plus, don’t miss your chance to meet and network with more than a dozen up-and-coming startups exhibiting at the show. Today’s casual conversation could lead to tomorrow’s next big deal. TC Sessions: Crypto takes place on November 17 in Miami, but the tides and time wait for no one. Jump on board and buy your pass before the launch special ends tonight at 11:59 p.m. (PDT). Is your company interested in sponsoring or exhibiting at TC Sessions: Crypto? Contact our sponsorship sales team by filling out this form.  

This startup is building a web3-friendly app store for developers • ZebethMedia

Apple’s 30% tech tax on developers has not just antagonized consumer tech giants like Epic Games and Spotify but is also turning web3 startups against it. Major NFT marketplaces OpenSea and Magic Eden noticeably only let users browse listings on their iPhone apps without enabling trading to avoid the steep fees. But doing so bars the one billion iPhone users from easily accessing a new breed of decentralized apps, while web3’s current challenge is to drive mass adoption. A nascent startup hopes to solve the app store problem for web3. Founded last year, Magic Square is building an app store that lets developers list projects that are vetted by the community. And its initial traction — 250,000 have signed up to test its upcoming beta version — has helped it attract investor attention. Magic Square’s valuation jumped to $75 million after recently raising an additional $1 million, up from the $30 million price tag of its $3 million seed round led by Binance and Republic that was closed in July. The startup is now seeking to raise $4.4 million at a $120 million valuation, CEO Andrey Nayman told ZebethMedia. Crypto.com Capital, the VC arm of the namesake crypto exchange, has joined as a strategic investor and will leverage the large pool of projects listed on the exchange to help Magic Square onboard more developers. The startup wants to make marketing cheaper for crypto startups, which are currently throwing tens of thousands of dollars at influencer endorsement without knowing for sure that will lead to new users, or they launch an airdrop but end up attracting speculators rather than real users. As such, Magic Square has designed a marketplace for affiliate marketing — a concept that has existed since the dawn of the internet — where developers set the price of how much they pay for each user acquired. In turn, marketers claim the tasks and work on helping these apps drive users. That’s also how the startup generates revenues. Instead of a tax on in-app purchases, it takes a 10% cut from the developers’ campaign budget. Buoyed with fresh proceeds, Magic Square plans to add headcount to its team of 40 employees spread across the world and focus on product development for its affiliate marketing program. User protection With the explosion of blockchain apps and crypto scams, having some kind of gatekeeper could offer a layer of protection to consumers. Despite the heavy tax they charge, Apple and Google at least work to root out illegal or suspicious apps — even though the mission sometimes falls short. “There are currently around 10,000 dApps out there, but if I talk about production-ready applications, it’s like 2,150 apps,” says Nayman, who was previously an investor at a major Israeli hedge fund. “If you are a crypto-savvy user, you know where to look. You know to check the white paper, the audit reports, the LinkedIn of the founders — the nuances that need to be checked in order to decide whether this is a project that you want to be involved or not with. But if you are not, you have no idea where to start.” There’s a seeming paradox in building a user-friendly decentralized product because accessibility and speed often rely on centralized data centers. But as some web3 experts increasingly argue, it’s the degree and type of decentralization that matters. In Magic Square’s case, decision-making for app publishing is kept in the decentralized realm. Its store depends on a group of validators to screen apps, a process that happens through a decentralized autonomous organization, or DAO, with an incentive mechanism to keep participants accountable and active. The app store is in the process of transitioning from Solana to Binance Chain. Validators are the ones who eventually decide what gets to be on Magic Square, and they do so by vetting projects by three criteria — content, security and user experience — not unlike traditional app store inspection. Each app goes through 250 randomly picked, independent validators, including 50 “qualified” ones who are technically advanced and 200 “standard” ones who can be anyone from the community. Validators are doing it for financial returns. Whether their app ends up passing the test, developers need to pay validators in Magic Square’s tokens to audit their apps. The store also encourages app users to leave reviews by rewarding them with points that can be converted into tokens, a structure that Neyman compares to the vastly popular — though sometimes fraught — play-to-earn business model used in GameFi. “Instead of playing, they just can use the same application that they’re using in their daily lives,” says the CEO.

Only 72 hours left to save hundreds on TC Sessions: Crypto passes • ZebethMedia

You have more than a month before Miami heats up for TC Sessions: Crypto on November 17, but you have only three days left until our special launch pricing sets sail and heads out to the OpenSea — ha, that’s a pretty NFT pun right there. Don’t waste another minute. Buy your pass — either general admission or student — before the deal expires on October 12 at 11:59 p.m. (PDT), and you’ll save $250 or $400, respectively. Now that you’re registered, get ready to go mining for opportunities across the blockchain, cryptocurrency, DeFi, NFT and web3 ecosystem. You’ll hear from industry giants like Binance’s Changpeng “CZ” Zhao, FTX Ventures’ Amy Wu, OpenSea’s Devin Finzer and many more. Here’s a quick look at just some of the day’s hot topics — be sure to check out the agenda so you don’t miss what matters most in your corner of the cryptoverse. Building for Normies: The most-hyped decentralized apps have typically been built for crypto speculators or decentralized finance acolytes, but a new breed of products is being crafted with the common internet user in mind. Join us as we chat with Alex Adelman (Lolli), Devin Lewtan (Mad Realities) and Brandon Millman (Phantom) — founders of some of web3’s most exciting consumer apps — and pick their brains on mainstream audience opportunities and the challenges of building consumer crypto businesses in a bear market. ZebethMedia Crypto Pitch-off: The industry’s brightest entrepreneurs will take the stage in front of a live audience and a panel of industry experts — including Gradient Ventures’ Wen-Wen Lam — pitching revolutionary technologies. Is Crypto Regulation Ready?: As crypto markets continue to gain mainstream adoption, regulators globally are watching the young industry with laser focus. But which crypto companies, protocols and projects will be compliant within the current regulatory framework? And how will the crypto industry respond when government agencies start providing new guidelines? We talk with Katherine Dowling — general counsel and CCO at Bitwise Asset Management — and dig into what regulation means for the industry in 2022. Plus, don’t miss your chance to meet and network with more than a dozen up-and-coming startups exhibiting at the show. Today’s casual conversation could lead to tomorrow’s next big deal. TC Sessions: Crypto takes place on November 17 in Miami, but the tides and time wait for no one. Jump on board and buy your pass before the launch special ends on October 12 at 11:59 p.m. (PDT). Is your company interested in sponsoring or exhibiting at TC Sessions: Crypto? Contact our sponsorship sales team by filling out this form.  

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