Seems like a framed story to pump the metaverse projects because I don't think many people even know about Bitcoin to understand metaverse payments projects and make investments on it. So its probably an attempt to create another hype but to the actual long term investor its just another bump and dump scheme.
You might be correct that much of those projects might be scams, however, I also disagree because liquidity will only create more liquidity. It does not require anyone to hype the metaverse because this is where liquidity will naturally flow as speculated by JPMorgan. Did you read JPMorgan’s analysis? Everything in that analysis was not based on hype, it was based on increased liquidity year on year.
It also appears this will only the first of venture capital funds that might also become real crypto participants in Defi and the metaverse hehehe.
The Sequoia Crypto Fund will primarily focus on investing in liquid tokens and digital assets.
”While we’ve invested in both equity and tokens over the last five years, many have asked that we take a more active role in managing our tokens, including staking them, providing liquidity, participating in governance and trading through their platforms,” said Sequoia partners Michelle Bailhe, Shaun Maguire and Alfred Lin in the announcement post.
Source https://www.coindesk.com/business/2022/02/17/sequoia-capital-looking-to-raise-up-to-600m-for-new-crypto-fund/
