#334: Spencer Farrar, Partner at Theory Ventures, on Web3 Venture Capital, Funding, and Strategy

05/13/24 • 37 min

Spencer Farrar is a Partner at Theory Ventures. Spencer was a two-sport athlete at Berkeley (swimming and water polo). He then worked at a Web3 startup, Velocity, which processed more than $150m of volume per day, before joining Bienville, a $4b asset investing in early-stage blockchain companies.
In this conversation, we discuss:
- The state of Web3 funding
- Web3 startups
- Venture strategy and liquid strategy in crypto
- AI-based Web3/blockchain companies
- Go-to-market strategy
- Influencers becoming VCs
- Swimming and water polo
- Working in trad-fi
- Similarities between VC and PE
- Supporting portfolio companies
- Web2 vs. Web3 sales
Theory Ventures
Website: theory.ventures
X: @Theoryvc
LinkedIn: Theory Ventures
Spencer Farrar
X: @SpencerFarrar
LinkedIn: Spencer Farrar

---------------------------------------------------------------------------------
This episode is brought to you by PrimeXBT.
PrimeXBT offers a robust trading system for both beginners and professional traders that demand highly reliable market data and performance.

Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. PrimeXBT is always offering innovative products and professional trading conditions to all customers.
PrimeXBT is running an exclusive promotion for listeners of the podcast.

After making your first deposit, 50% of that first deposit will be credited to your account as a bonus that can be used as additional collateral to open positions.
Code: CRYPTONEWS50
This promotion is available for a month after activation. Click the link below:
PrimeXBT x CRYPTONEWS50

Previous Episode

#333: Eduard Jubany Tur, Founder of ZKX, on Perpetual Futures, DeFi Growth in Asia, and How DeFi can Democratize Finance

Eduard Jubany Tur, Founder of ZKX, a decentralized perpetual futures exchange on Starknet.
Eduard’s background in tech and finance has led him to tackle some of DeFi’s most pressing challenges, such as accessibility and user engagement. With the goal of making DeFi more approachable and efficient, Eduard has been at the forefront of integrating gamification into trading, enhancing the learning curve with innovative solutions. Beyond that, Eduard and ZKX are also leveraging Starknet for scalability, advancing trading with security and transparency, and fostering community governance. This multifaceted approach highlights his commitment to not only making DeFi fun and accessible, but also robust, secure, and inclusive.
In this conversation, we discuss:
- Perpetual futures trading
- DeFi’s growth in Asia + crypto in Asia
- The potential of DeFi to democratize finance
- Starknet
- Account abstraction
- Challenges of achieving widespread adoption
- Appchains
- Incentivizing engagement while ensuring accessibility
- Onboarding the masses
- The explosion of L1s and L2s
ZKX
Website: zkx.fi
Z: @zkxprotocol
Telegram: t.me/zkxcommunity
Eduard Jubany Tur
X: @0xEduard
LinkedIn: Eduard Jubany Tur

Next Episode

#335: Tomer Pascal, CEO of CityVerse Tycoon, on Web3 Mobile Gaming Ecosystem, PWAs, and Battling the Apple/Google App Stores

Tomer Pascal is the CEO and co-founder of OwnPlay, a web3 mobile gaming ecosystem that has developed CityVerse Tycoon, a PWA game allowing players to trade, buy, and sell tokenized replicas of real buildings in New York City. Tomer has extensive multi-disciplinary experience in delivering products to their appropriate markets, working with early-stage companies, businesses with new products, and well-established organizations. He combines his tech mindset, ability to create effective marketing technology platforms, and business capabilities to help companies monetize their products and achieve growth.
Before founding OwnPlay, Tomer held several positions, including Chief Revenue Officer at Mohawk Group, Inc., where he focused on driving revenue and holistic growth; Chief Executive Officer at OMG Studios, where he served as a corporate strategist and worked on digital media and customer engagement; and General Manager of the Perion Lightspeed Division at Perion, overseeing the GrowMobile mobile advertising platform. With his diverse skill set and experience, Tomer leads OwnPlay in its mission to innovate in the mobile gaming industry using web3 technology.
In this conversation, we discuss:
- What is a PWA game?
- CityVerse Tycoon = Monopoly GO + Zillow
- Trade, buy, and sell tokenized replicas of real buildings
- The opportunity that mobile offers for web3 gaming
- Challenges of creating and operating a mobile web3 game
- Mobile offering unparalleled accessibility
- The "David and Goliath" struggle between crypto apps and centralized app stores
- Apple and Google’s Appstore Duopoly
- Building the game as a PWA rather than a traditional mobile app
- PWA’s influence on distribution and monetization for mobile gaming
CityVerse Tycoon
Website: cityversetycoon.com
X: @CityVerseTycoon
Discord: discord.gg/cityversetycoon
Tomer Pascal
X: @TomerPascal
LinkedIn: Tomer Pascal