Venture fund @fintech_io bought 10% of $GRPH directly on the open market with a liquid purchase. You guys understand they aren’t planning to dump for a 2x right? They must’ve seen something in @soulgra_ph and @r4dicalcentrism, a YC-backed founder on Web2. Fintech Collective has offices in London and New York and manages $800M in capital. This is serious money backing a $6M market cap project. And not via a seed deal at lower valuation. Soulgraph comms have not satisfied the crypto-native desire for constant updates and short attention span, but it seems to me they are more web2 native with previous experience in building up successful real startups. Soulgraph is playing the long-term, building silently, driving usage into the platform with sticky users that enjoy the features instead of mercenary capital (50k+ minutes, 10k+ souls, 7-fig LLM throughput). They will be competing directly against Character AI, with 20M+ users in Web2, thanks to the decentralized and uncensored nature of crypto. I think these guys are making more revenue than the market knows (without mercenary capital and instead non-crypto-native users that do enjoy the product), and have the experience to scale the business. Hence the confidence of @fintech_io and @seanlippel to call it a unicorn and speak in the billions. They wouldn’t be talking about real companies and turning on rev share if that wasn’t the case. To me it feels like a huge asymmetry in a bad altcoin market.
🧵👇 1) We are excited to announce that we have acquired a ~10% token stake in @soulgra_ph ($GRPH) via open-market purchases, as we seek to provide institutional venture support for the top builders in the @arcdotfun ($ARC) ecosystem. So why @soulgra_ph and what's next?
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