If your week in Hong Kong is jam-packed with panels, shills and pitches then it’s time to take a step back and reconnect with what truly matters: THE COMMUNITY.
For the first time, unlike any other VC events, Newman Group, @hkfrens, and @monsterblockhk are bringing the Ultimate Community Night to @consensus_hk, at one of the most iconic and oldest Cantonese restaurants in Hong Kong - Ser Wong Fun - a Michelin Bib Gourmand-awarded gem known for its exotic snake cuisine and rich cultural heritage. We’ve also teamed up with some of the most vibrant communities, including: @asiadoods, @852Captainz, @Azuki_852Garden, @coolcatshk, @DeGodsAsia, and @PudgyHK.
This isn’t your typical party - IT’S THE EVENING to engage and connect with some of, if not, the most vibrant community/folks in Hong Kong. We want to celebrate the people who actually build Hong Kong’s Web3 soul.
📅 When? Wednesday, 19 Feb 2025
⏰ Time? 7:00 PM - 10:00 PM
📍 Where? Ser Wong Fun, 30 Cochrane St, Central, HK
Come hang with us, rep your Web3 merch, and vibe with like-minded frens. ✨ Spots are limited, so don’t wait! See you there! 🚀
Sign up here: https://t.co/SnpvS9Vq6G
Just got sent this Newman customized spirit hand designed by the official @Azuki team, what should we call him, chat? massive shoutout to @zagabond@njoo for making this 1/1 happen 🫶
IKZ!
(Updates) We sticked to most with what was said in April, didn’t expect the meme wave at all. Admittedly I wasn’t as visionary as someone like @MustStopMurad / @Rewkang. However, as an investor (all sorts) especially in this space, 𝐛𝐞𝐢𝐧𝐠 𝐧𝐢𝐦𝐛𝐥𝐞 𝐚𝐧𝐝 𝐪𝐮𝐢𝐜𝐤𝐥𝐲 𝐚𝐝𝐚𝐩𝐭, 𝐰𝐡𝐢𝐥𝐞 𝐡𝐚𝐯𝐢𝐧𝐠 𝐚𝐧 𝐨𝐯𝐞𝐫𝐚𝐥𝐥 𝐜𝐨𝐧𝐯𝐢𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐰𝐞 𝐮𝐬𝐮𝐚𝐥𝐥𝐲 𝐬𝐚𝐲, 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐭𝐨 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐧, 𝐚𝐧𝐝 𝐬𝐭𝐢𝐜𝐤 𝐭𝐨 𝐭𝐡𝐚𝐭 - 𝐚𝐫𝐞 𝐯𝐞𝐫𝐲 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭.
𝐌𝐲 𝐜𝐨𝐧𝐯𝐢𝐜𝐭𝐢𝐨𝐧:
Community is key, really, underpinning everything not just web3, but the ever-evolving attention economy. My team was saying today his friend’s mom asked ‘how to buy $doge?’, because ‘Elon talked about it’. We were joking about it ‘in mums we trust lol’. But really, isn’t that the adoption we want? Not with tech, but with a common belief. Now, this common belief can be propelled by memes, can be by NFTs. As I often mention in my tweets, 𝐭𝐡𝐞 𝐤𝐞𝐲 𝐢𝐬 𝐡𝐨𝐰 𝐭𝐨 𝐜𝐫𝐞𝐚𝐭𝐞 𝐚 𝐦𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦 / 𝐭𝐨𝐨𝐥 𝐭𝐡𝐚𝐭 𝐮𝐬 (𝐚𝐜𝐫𝐨𝐬𝐬 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬) 𝐰𝐢𝐥𝐥 𝐟𝐞𝐞𝐥 𝐰𝐞 𝐡𝐚𝐯𝐞 𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩, 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐦𝐨𝐬𝐭 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭𝐥𝐲 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥𝐥𝐲 𝐫𝐞𝐰𝐚𝐫𝐝.
So there’s not really conflict between NFTs and memes. But I agree in order to have people financially rewarded, liquidity matters. So in order for NFT projects to scale their engagement, they need to have tokens. We stick to our words. We back in different ways @Azuki, @pudgypenguins, @Memeland and many others in the similar capacities.
𝐒𝐨 𝐰𝐡𝐚𝐭 𝐚𝐛𝐨𝐮𝐭 𝐚𝐥𝐭𝐬?
I caught up with many investors. Many thought alts would follow the previous cycles (I.e btc -> eth / sol -> alts). While I do not buy things always repeat themselves in crypto (except the magical Bitcoin halving impact), I am not that pessimistic on alts. 1) we still stick to the notion that nearly fully vested / decentralized alts is something we will hodl / buy more. Example is $stx by @Stacks. 2) there are change in distribution mechanism for newly listed alts. (Personally I am looking forward to what @rektdrinks gonna do with its token). There’s no debate that primary market needs reform in tokenomics, valuation and token distribution. 𝐄𝐯𝐞𝐧 𝐭𝐡𝐞 𝐫𝐞𝐟𝐨𝐫𝐦 𝐡𝐚𝐬𝐧’𝐭 𝐛𝐞𝐞𝐧 𝐝𝐨𝐧𝐞, 𝐝𝐨𝐧’𝐭 𝐛𝐞 𝐟𝐨𝐨𝐥𝐞𝐝 𝐭𝐡𝐚𝐭 𝐜𝐫𝐲𝐩𝐭𝐨 𝐝𝐨𝐞𝐬𝐧’𝐭 𝐧𝐞𝐞𝐝 𝐚 𝐩𝐫𝐢𝐦𝐚𝐫𝐲 𝐦𝐚𝐫𝐤𝐞𝐭. I still see very interesting opportunities. Lately I have seeded a crpyto-powered dating app which I would love to share with you asap.
𝐌𝐲 𝐭𝐡𝐨𝐮𝐠𝐡𝐭𝐬 𝐨𝐧 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧𝐬
Again, we have to be nimble. My rough thoughts:
- continue to hodl btc for sure. Whether it’s 100k, 150k or 200k this cycle. Btw for people who already got fomoed about we approaching 100k, you don’t know how fast btc went to 17k once it broke 10k resistance.
- starting to buy back eth, majorly because 1) it’s so far the only ETF option beyond btc - very inelastic Wall Street demand. 2) too much negativity towards eth - contrarian strategy in major blue chips in crypto almost worked out every time.
- have 3-4 memecoins as core holdings - meaning not as short-term tradable assets. The idea of they are going to be a long-term portfolio asset is a huge change in strategy. ‘Animal coins’ that represent social beliefs, and ‘AI crypto meme coins’ are two categories that I will buy blue-chips, and comfortably sleep overnight with them.
- Continue to support alts and their founders who are constantly innovating,. Especially in the consumer space. Whether it’s primary market or OTC. I love DeFi, but I am not expert like @arthur0x, so I’ll let him play his role while I focus on supporting on consumer founders.
P.S. Newman is starting something new soon, founder mode all in. Stay tuned.
Get ready for our event with @spiritdao! For those who have successfully signed up, please check important details below.
We are excited to meeting all of you and showcasing demos from some of our portfolio companies! See you all tonight! ✨👀