Max Mersch
@MerschMax_
Followers
8,217
Following
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Media
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Statuses
5,066
Co-founder & Partner @fabric_vc Backing the Open Economy: Near, Sorare, Axie, Fantasy, Immutable, Cartridge, 1inch, TheGraph, Ramp, Nansen, YGG, Angle & more..
Joined October 2015
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Pinned Tweet
Fabric Ventures has a new fund: $130m of fresh capital for the founders of the Open Economy in Europe! 🚀
Backed by an incredible group of LPs, ranging from the
@EIF_EU
to the very builders of this sector.
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In June,
@AxieInfinity
made a record revenue of $12m in a single month.
So far, in July,
@AxieInfinity
has made $11m in revenue.
We are not even 6 full days into July...
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We're at the dawn of the Ownership Economy:
@UniswapProtocol
- a 2 year old automated market maker on Ethereum - launched their $UNI token today.
They distributed 150m $UNI to their early users.
At $3/UNI, that's currently $450m airdropped to their most loyal userbase. 1/5
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Congrats to
@Briyan_Cessac
& the
@TheEverai
/
@ScreenshotLabs
team for their launch of
#Everai
Significant traction in a week, but this is not just a PFP collection - watch this space :)
@fabric_vc
is an investor & we're looking forward to what's ahead!
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Another 6 days have passed and
@AxieInfinity
has now made $40,000,000 of revenue in July.
That's over $4.5m in revenue per day over the past week!
Every update makes the previous one look irrelevant.
In June,
@AxieInfinity
made a record revenue of $12m in a single month.
So far, in July,
@AxieInfinity
has made $11m in revenue.
We are not even 6 full days into July...
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I am starting to like these new reward structures on
@Sorare
😎
Winning divisions gets you the top rewards!💥
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How did we do? 👀
𝐒𝐮𝐩𝐞𝐫 𝐂𝐚𝐩 𝟐𝟕𝟎 is over! 🏁
Enjoy your rewards and let us know what you’ve got 🫣
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This is completely unacceptable
@TwitterSupport
@jack
!
@twobitidiot
was months ahead of everyone else with warnings of the magnitude of Covid-19, long before “experts” took it seriously and helped many of us get ready in time.
And now you shadow-ban him and his business?
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Tomorrow I will be moderating a panel at
@CogX_Festival
on the future of gaming being Play-to-Earn and NFT driven.
Join us to hear about the incredible success of
@SorareHQ
and
@AxieInfinity
and the NFT/scholar DAOs being built on top of them with
@YieldGuild
and
@BlackpoolHQ
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Sometimes you need to get it done at the airport
@AntoGriezmann
Unique card won on
@SorareHQ
Welcome to
@BlackpoolHQ
😏
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📈 SaaS investors look at Churn and MRR
📦 Marketplace investors look at CLTV and Margin Rates
👨👩👧👦 Consumer investors look at CAC and NPS
⛓️ Web 3.0 investors face a new set of metrics: from Hash-rate to Gas Usage to Staking Yields
A high level overview:
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With the $UNI distribution,
@UniswapProtocol
has consolidated an army of missionaries that were early users and are now stakeholders incentivised in the protocol's success.
Imagine Coinbase distributing shares for every trade, Uber giving equity to every driver and rider. 4/5
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One of these NFT communities is not like the others
@Sorare
- consistent, steady & sustained growth over past 2 years, with daily utility for productive assets.
cc
@cryptoslamio
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The technology is now here to share the upside in your success with your earliest users that got you this far.
Execution, speed, pricing are all important - but in the coming decade, success will be built on inclusive ownership and upside of your community.
Few.
5/5
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Highly recommend spending 3+ weeks in the US
You will have a completely renewed appreciation for how good we have it here in Europe
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Decided to try public transport in SF today:
- BART machines don’t accept Revolut/Monzo
- MUNI buses don’t take cards at all
- Go to an ATM, withdraw $20, pay a $3 fee
- Back to MUNI, only accept exact change, lets me ride for free
So much for the tech capital of the world... 🤦♂️
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Biggest takeaways from the
@ETHBerlin
Hackathon:
- Nobody talks about price! Just
#buidl
it!
-
@ZeppelinOrg
libraries are used by absolutely everyone!
- People hack together more in 48h than I do in a month!
💪🏽
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Welcome to
@BlackpoolHQ
😎
D1 Champions team on
@SorareHQ
for next season shaping up nicely with Mbappé & Griezmann Uniques
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Our views on the utility of tokens beyond payment.
Explaining why we at
@fabric_vc
believe value accrual in decentralised data networks is just getting started.
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A few unstructured thoughts on the new format of monthlong competitions
@Sorare
has launched
Some of the most fun competitions i've joined since I started playing Sorare in early 2020
Effects on card usage, new purchases, gallery depth & manager focus
+ the
@SorareData
magic
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It was great fun to join
@APompliano
on his Off The Chain podcast!
We covered everything from surveillance states to sustainable open source developer funding to the
@fabric_vc
Web 3.0 investment thesis.
New episode is live with
@MerschMax_
!
We discuss surveillance states, Web 3.0, what areas of crypto are over-hyped, and what areas people should be paying more attention to.
Listen and learn!
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Today
@SorareHQ
announced their $680m Series B 🚀
It's been an incredible journey to follow the team as an investor and power-user over the past 18 months.
Some thoughts on what we think makes Sorare so successful below in the post below:
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Excited to publish the
@fabric_vc
Investment Thesis in this 2nd edition of the State of the Token Market Report!
Investment Thesis: pages 28-44
@richardmuirhead
@Anastasiya_B94
@JulienThevenard
@maciejrymarz
⬇️ Core Arguments Below ⬇️
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New acquisition could hardly have started off in better style! 💥
Robert Lewandowski bought for 34.2 ETH (147250.49$) by MaxM on the primary market
Season: 2021-2022
Level: 0
Serial: 1/1
Price: 147250.49$
⚽ Sorare:
📊:
#Sorare
#NFT
#Ethereum
#FantasyFootball
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Vitalik casually sending $6.7B worth of tokens to a burn address with a little message.
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After two weeks of
#Web3Summit
and
#DevCon4
, we’re left with a multitude of open questions, but I walk away with a single supreme conviction:
There is no chance that this movement of mission-driven builders don’t succeed to create something significant and consequential!
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Excited to share that
@fabric_vc
is leading a €3m seed round in
@OnlyDust_xyz
- incredibly excited to work alongside
@0xwlGravity
&
@pacovilletard
over the coming years to push the future of properly incentivised open source contributions!
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Company building session with
@ni2las
from
@SorareHQ
for the crew at
@lecryptofellow
! ⚽️
Building the next generation of French Crypto Unicorns 🇫🇷
All of this on a 5-a-side football field in a brand new office!
@fabric_vc
/
@frst_vc
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The Starknet ecosystem is now entirely made up of
@TheEverai
Duos and
@briqNFT
Ducks PFPs.
Instant strong signalling when I see one.
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It's not every day I see the entire
@Sorare
community come together in quasi unanimous agreement💥
This seems like a very solid path forward - creating all the right incentives for entry & progression in the game.
Bravo
@aalokkapoor
,
@bruhagan
,
@ni2las
,
@a_GrizZi
& co! 👏
🆕 ETH Threshold and Capped Mode! ⚽️
To better balance rewards and facilitate in-game progression for all Managers, in February 2023 we will:
▪️ Spread ETH thresholds across all scarcities except Common
▪️ Move thresholds to a new Capped Mode competition
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Skin in the game for Crypto Twitter via
@fantasy_top_
Launching Mainnet Phase 3: The Final Countdown 🌅
We’re proud to announce the final launch of Fantasy – the first social trading card game, backed by
@alliancedao
,
@ManifoldTrading
, and
@fabric_vc
.
✨ Pack Opening and Trading will begin on April 25th at 3 PM UTC | 11 AM EST |
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🇫🇷 Launching Le Crypto Fellowship! 🇫🇷
We all know crypto is the Future of France.
Partnering with
@frst_vc
to invest in 10 graduates from the top French tech universities to build in the space.
€100k each + 1 year of learning, building & networking!
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Does this look like a bear market to you on
@Sorare
?
⚽️ + ⚾️ = 🚀
Tomorrow the whole MLB is launching with Baseball as the 2nd sport after Football.
Charts from
@soraredata
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What is that Christmas slow-down everyone is talking about?
We have just closed 6 investments this week at
@fabric_vc
! 😎
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Just tested
@argentHQ
’s new
@compoundfinance
integration.
This is too easy!
Bought 0.5ETH worth of DAI and lent it out on Compound for 10.43% APR in about 30 seconds 📈
Without leaving the app💥
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That went fast!
$50m Series A for
@SorareHQ
, led by
@benchmark
with
@Accel
, Antoine Griezmann,
@garyvee
and existing investors.
@fabric_vc
is thrilled to double down and back
@ni2las
,
@adrienmontfort
and the whole team at Sorare again!
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The team at
@fabric_vc
has been thinking through which business models will be unleashed by the upcoming Web 3.0 wave.
By parallels to the success cases of Web 2.0, we elaborate on the current state of Web 3.0 models
… and where they might take us!
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Just went through a fantastic UX for peer-to-peer fiat to crypto on-ramping courtesy of
@RampNetwork
! 🔥
Starting from scratch without any sign-up, I went from £30 in my
@monzo
account to 0.2 ETH in my
@metamask_io
wallet in 3 minutes.
➡️ Try it out:
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From someone who has spent way too much time on
@Sorare
over the past 4 years...
I intend to spend way too much time on
@fantasy_top_
in the coming years!
Congrats for the launch
@0xMikado
,
@0xKipit
&
@TravisBickle0x
- thrilled to have
@fabric_vc
backing you guys!
The Fantasy Airdrop is now live! 🛫
We're excited to announce the first phase of our deployment to the
@Blast_L2
mainnet.
Connect to to claim your rewards:
✨ Mainnet FAN points
🪂 Free Packs
🛍️ Discounted Mints
A huge thanks to our investors
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Uniswap currently does $400-500m in DAILY volume, which is north of $150b annualised.
0.30% fees go to liquidity providers and 0.05% will go to $UNI holders.
$434m in fees are paid to the Uniswap community on an annualised basis. 2/5
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The 1/1
#boi
collection by
@iamlirona
is under-appreciated!
Only 100 of these will ever exist.
Each one designed with a collaborating artist or project, sharing a common identity, but a totally different story.
Was lucky to pick this one up yesterday
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Time to update my Twitter banner image
Pogba Unique is off to a new owner
🤝 SquareBallJazz
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A year later, I have even more conviction in our post about Value Accrual in Work Tokens (
@fabric_vc
)
Payment Tokens have fallen off, Token Classifications have evolved and Work Tokens are still the most exciting type of "Utility Token".
From July 2018:
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Uniswap has now effectively distributed these future cashflows amongst the 250,000+ Ethereum addresses that have interacted with Uniswap in the past.
They were able to do this without knowing the individuals or entities behind the addresses and at almost no cost. 3/5
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GM!
@fabric_vc
is doubling down in backing and continuing to build
@BlackpoolHQ
into the largest financial actor within the metaverse and gaming economies forming around NFTs.
A journey that started 18 months ago with a team just keeps growing!
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Nice evolution of the
@SorareHQ
AUM value for
@BlackpoolHQ
... denominated in ETH!
Do you know what the price of ETH has done in the meantime?
Hockey Stick meets Hockey Stick 🚀
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Have been outbid with $13k for a single parcel of land in the
@decentraland
Terraform auction. I think I'll adjourn my paddle for now...
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Two distinct reactions when I explain Web 3.0 to friends & family:
In Luxembourg 🇱🇺
“These new financial primitives will enable so many cool automated instruments.”
In Romania 🇷🇴
“Portable identity and money will eradicate the power of totalitarian regimes and border controls!”
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The Rise of the Token Sale and how VCs could adapt to it - Enhanced by thoughts from
@carlbennetts
@ethstatus
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Calling for CryptoTwitter suggestions:
Taking some time this weekend to test new ETH projects / dApps.
@TornadoCash
,
@PoolTogether_
,
@SorareHQ
,
@tokensets
Social Traders etc...
What am I missing?
@RyanSAdams
@econoar
@sassal0x
@antiprosynth
@spencernoon
@twobitidiot
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In 2016 I made my 2nd personal investment in a company through
@Crowdcube
's crowdfunding round for
@RevolutApp
.
It was a very small investment, but the fact the opportunity was accessible to anyone at a sub 50m valuation is incredible.
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No, there are no synergies!
No, you do not need a token!
No, you should not raise $100m!
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Looks like a successful launch of
@SorareNBA
by the
@Sorare
team!
The volumes are great, but look at the number of transactions and of unique buyers compared to all other collections!
Gaming will continue leading the next user wave to Web3.
This is the way.
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There’s a team that has sold 600,000+ NFTs in the past 36h on
@Starknet
🔥
Now tell me this doesn’t scale? 🫠
Any guesses?
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Loving this graphic.
@fabric_vc
has made only 3 direct investments in NFT issuing companies in the gaming space:
-
@SorareHQ
-
@AxieInfinity
/
@SkyMavisHQ
-
@decentraland
Full podium secured 😎
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The most exciting chart for the
@SorareHQ
ecosystem is not the # of users nor the primary market volume, but rather the volumes on the secondary market (3rd chart from
@SorareData
):
A growing secondary market demonstrating a healthy in-game economy ✅
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The State of the Token Market: A Year in Review & an Outlook for 2018
Excited to share
@TokenData
's analysis of 2017 and an insight into what developments we're looking forward to in the coming year at
@fabric_vc
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Winning the All Star Rare division on
@Sorare
feels good! 😎
Coupled with Champions SR Division :)
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We're building
@fabric_vc
to invest in the companies and protocols that incentivise their community by sharing the upside in their success with their users rather than monetise their data behind their back.
@richardmuirhead
@JulienThevenard
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@spencernoon
So far the big categories from
@BlackpoolHQ
’s perspective are:
Sports:
@SorareHQ
&
@nba_topshot
Games:
@AxieInfinity
Characters:
@TheHashmasks
& Punks
Art:
@AsyncArt
,
@SuperRare
& co...
Keen to see what we are missing?
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Email from our bank manager.
@fabric_vc
is open for business and we keep backing outstanding founders in Web3 - as we have been for the past 6-7 years!
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What made Stripe unavoidable?
“With Stripe, all a startup had to do was add seven lines of code to its site to handle payments: What once took weeks was now a cut-and-paste job” (Bloomberg)
The permissionless programability of the
#DeFi
stack is its killer feature.
“as a developer it’s just easier to program things like payments, trade execution, or settlement using a smart contract platform than the traditional banking system”
that's the money line
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Fantastic overview of the crypto fund landscape by
@fmoulin7
- covering over 900 funds with specific lenses: from different strategies, geographic regions and tech stack sectors.
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We are excited to share that
@fabric_vc
is doubling down in backing our portfolio company
@AxieInfinity
to build out the first mover in the Play-to-Earn movement.
Massive $152M Series B led by
@a16z
,
@Accel
&
@paradigm
:
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A perspective from June by
@JulienThevenard
on the power of tokenised ownership in digital networks:
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It appears
@Starknet
season may be upon us.
Time to bring Beer Duck back out again 🍻
@DucksEverywher2
x
@briqNFT
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Bored Apes at a 100 ETH floor price..
Then you realise that for the price of 1 or maybe 2 floor Bored Apes, you would be in contention to win the auction for one of the top two most valuable cards in
@Sorare
tomorrow… 👀
The Haaland Unique:
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Ever wished DeFi had embedded fiat on-ramping that takes a few minutes and is fully decentralised / p2p?
Try out Ramp on
@zerion_io
or
@multisHQ
!
@argentHQ
and
@getnuo
integrations coming soon! 🔥
Hey, crypto-heads. Ramp Instant is now live! 🚀🚀🚀
On-ramp your users to the brave new world of decentralised finance 🙌
Check what's under the hood in our Medium post here 👉
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Loving this card more and more! 😎
✅ 2020: First
@KMbappe
Unique sold on Sorare.
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This is not a timeline we predicted …
@MeekMill
tweeting
@fabric_vc
’s graphic from our “What is Web 3.0 & Why it Matters” blog post:
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Some companies do opportunistic NFT drops for one or another football player.
@SorareHQ
casually drops the entire Spanish LaLiga in one go!
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To all dApp, wallet or DeFi builders:
Imagine your users natively buying ETH & DAI without ever leaving your application! 😏
@AragonProject
@ethstatus
@staked_us
@LivepeerOrg
@argentHQ
@zerion_io
@decentraland
@brave
@UniswapExchange
@compoundfinance
@SetProtocol
@metamask_io
Just went through a fantastic UX for peer-to-peer fiat to crypto on-ramping courtesy of
@RampNetwork
! 🔥
Starting from scratch without any sign-up, I went from £30 in my
@monzo
account to 0.2 ETH in my
@metamask_io
wallet in 3 minutes.
➡️ Try it out:
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Not a bad midweek on
@Sorare
!
1st in D1 Champions Europe 🇪🇺
2nd in SR Champions NBA 🇺🇸
Will come in handy in the coming weeks 😏
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Productive weekend on
@SorareHQ
- 1 ETH of rewards for podium places + 4 ETH worth of cards.
@BlackpoolHQ
What other NFTs produce yield like this?
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I seem to be getting more decent offers on
@Sorare
now in the off-season than I used to during the middle of European football season.
Rare to SR ratios also seem to be up from 3.5-4x to 5-6x if not more!
What’s happening?
Seems to be a change in sentiment in the market.
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First they wanted to ban cryptocurrencies because they were used for drugs.
Finally they're realising the real scope.
Now they want to ban cryptocurrencies as they suppress the global power of the Dollar and US control over world politics.
At least it's a better reason... 😏
Congressman Brad Sherman wants to outlaw cryptocurrencies.
He has been in office for 22 straight years. More than twice as long as Bitcoin has existed. Maybe we should outlaw lifelong politicians?!
Thankfully, Bitcoin will be around long after Mr. Sherman :)
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We've taken some time to reflect: why are we so convinced about backing Web 3.0 entrepreneurs at
@fabric_vc
?
❔ Why does Web 3.0 matter?
➡️ Trust minimisation for coordination at global scale.
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Thrilled that
@fabric_vc
is joining
@eventuresVC
in backing
@SorareHQ
in their $4m seed round.
They have built the fastest growing NFT issuance platform, have signed over 70 world class Football clubs and have grown 10x over the past couple of months.
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