.@a16z, @Accel and @paradigm looked directly at a blatant Ponzi scheme, Axie Infinity.
They called it “play-to-earn” and invested $311M into its parent company.
Then it collapsed.
How Web3 VCs stumbled into funding a Ponzi. 🧵
What happens when a samurai, a knight, and a yankee travel together down the road to hyperinflation paved with Yield Curve Control?
https://t.co/NMGoW0Zd5u