Stories by Cryptomeria Capital on Medium

Stablecoins 2023: Current Status and Outlook report [May 2023]

Cryptomeria Capital — Tue, 30 May 2023 17:38:49 GMT

Over the past year, the market has seen a lot of change in the stablecoin landscape.

Therefore, we found it critical to visualise the real state of the industry to help our readers understand stablecoins and make risk calculations easier. In this report, we have compiled all the essential information that clearly demonstrates the differences between existing types of stablecoins and their collateral. Through in-depth analysis of each individual asset, we explored major forms of stablecoins — traditional asset-backed, crypto-backed, and algorithmic stablecoins — to provide a broad overview of the existing stablecoin landscape.

This comprehensive research is essential reading for anyone interested in understanding the current state of stablecoins and selecting the most suitable and reliable option for potential usage. Whether you are an investor, entrepreneur, or simply curious about the future of money, this resource will provide valuable insights into the workings of stablecoins and their role in the rapidly evolving digital economy.

The full report is AVAILABLE HERE.

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ZK Community Breakfast — organized by Cryptomeria Capital [Recap]

Cryptomeria Capital — Thu, 25 May 2023 15:36:45 GMT

ZK Community Breakfast — organized by Cryptomeria Capital [Recap]

More than 70 guests, two panel sessions, and countless insightful conversations. Cryptomeria Capital, along with Starknetics and zkPass, leading ZK technology experts, and brilliant minds from the community, united on May 23rd in Podgorica during EDCON 2023 to discuss all things ZK.

That was ZK Community Breakfast — the first event in the ZK Seasons event series dedicated to unveiling the potential of ZK technology. By bringing together experts from leading ZK ecosystems, startups, and developers, ZK Seasons encourages participants to generate ideas, network, and experiment with ZK integration.

The ZK Community Breakfast featured two insightful panels, each showcasing guests who shared their vision of the technology, delved deep into the intricacies of their projects, and generated ideas on the potential applications of ZK.

We are proud to have made our contribution as co-organizers and want to thank the partners, participants, and community members who contributed to making the first ZK Community Breakfast an unforgettable experience. Special thanks go to our incredible speakers, including but not limited to:

Bryce Patrick — Protocol Growth from Ethereum Attestation Service
Andy Guzman — Privacy & Scaling Explorations (PSE)
Qi Zhou — Founder of EthStorage
Xiaohang Yu — Core Researcher at Hyper Oracle
Jesse Rosenblatt — Business Development Manager at Matter Labs (zkSync)
Edi Sinovčić — Chief Executive Officer of SpaceShard
Filip Pajić — Research and Development at Scroll
Milica Vulić — ZK Educator

Looking ahead, we are excited to announce the commitment to hosting more ZK Seasons events in the near future, driving innovation forward and supporting the development of ZK technology.

Cryptomeria Capital is an early-stage VC firm based in Dubai which presence in Singapore and Hong-Kong. The firm believes decentralized projects, cryptocurrencies, and Web 3.0 will dramatically reshape economic relations and focuses on ventures, tokens, and projects related to blockchain technology and crypto assets. Cryptomeria Capital supports transformation by providing early-stage financing for ambitious projects in a rapidly developing industry.

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New investment: INTMAX

Cryptomeria Capital — Mon, 17 Apr 2023 15:01:53 GMT

We have invested in INTMAX alongside notable investors such as HashKey Capital, Bitscale Capital, B Dash Ventures, SNZ, Antalpha Ventures, Scroll, Mask Network, and other angels.

We are very grateful for the support of everyone at Cryptomeria Capital. They are as close and supportive as if they are a part of the INTMAX team. We have a big challenge ahead, but with people who believe in us and support us, we will continue to challenge ourselves to the best of our ability.

— Mai Fujimoto, Co-founder of INTMAX

About Intmax

INTMAX is positioned as a new type of zk-Rollup that can work as a zk-Rollup without extra historical data, and as a pre-consensus mechanism for ZKP and OR. Or as a protocol that reduces computational costs by 95% compared to other zkRollups. Moreover, INTMAX offers technology such as ZkRollup without transaction history data, This algorithm removes almost all the data stored on-chain from zk-Rollup, heavily decreasing the cost of the transaction, while preserving the security.

The protocol offers a different structure for the Merkle tree. Normally, pairs of transaction hashes converge to one another, but for each individual tranche, Intmax deploys all the others from the root.

Intmax has a completely different way of organizing: the aggregators only know the root of the user’s asset store and the tx hash. Client-side ZKP aggregates multiple transactions into a single transaction, even in cases where recipients have many addresses, saving block space and making transactions even cheaper. The pre-consent mechanism can increase the finality interval to help accumulate the address list over a longer period.

On top of that, Intmax enables ZkRollup technology with extremely low call data cost (and even free gas), allowing multiple ERC20/NFT types to be transferred to multiple different recipients in a single transaction. The combination of client-side ZKP and limited online provisioning results in almost zero gas cost in exchange for a client-side latency of 3–40 seconds. Cost optimization is achieved at the cost of gas per call (calldata). One transaction accommodates unlimited ERC20/NFT for many recipients with the same call data/zkp cost on the aggregator side. Instead, the client-side zkp calculation latency takes longer.

Every user has its own asset store and its own Merkle root. The sender clears part of the asset tree and the recipient receives the part of the partial tree meant for it. These assets are merged upon the transfer.

For 1000 packets per second, 1 recursive proof = 60 blocks = 480 KB. This can be avoided by splitting the transaction calldata-post or by waiting for proto-danksharding to expand it to 3000 or more. This architecture supports the transmission of at least 10,000 tokens per second for a single network with ZKP 2022 technologies.

Test results are showing high and stable performance with the Apple M1:

This indicates that aggregating 32 * 100 tokens takes 120 seconds of computation time on a single Apple M1 processor without optimization or parallelization. Parallelization and hardware acceleration can further reduce this time.

Lastly, INTMAX proposes to create checkpoints to shorten the Optimistic Rollup 7-day verification period to a final interval of a few hours or an arbitrary time of our choosing. In the context of zk-Rollup, it can reduce the cost of verification gas by keeping the batch interval and lengthening the finality period.

Cryptomeria Capital is a crypto fund backed by blockchain industry experts. The focus is exclusively on ventures, tokens, and projects related to blockchain technology and crypto assets. The firm also has a corporate partnership with Axon Partners Group, an international consulting and investment firm that has backed over 50 companies and trades on the BME Growth Market under the ticker “APG”.

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Arweave: Revolutionizing Data Storage and Sharing in the Web 3.0 Era

Cryptomeria Capital — Fri, 14 Apr 2023 20:47:46 GMT

In collaboration with Arweave & Warp by RedStone, we’ve conducted a research study exploring their impact on the Web 3.0 landscape.

We’re all generating tons of data, and the key question is where to store all of this information so it’s secure, easily accessible, and permanent. Many have opted for cloud storage, but what happens when servers are down and the service is unavailable?

That’s where Arweave comes in. The company has decided to take advantage of what web3 has to offer and put data storage on the blockchain in order to provide a permanent way of storing and sharing data. People and companies no longer have to depend on third-party intermediaries and centralized solutions. In fact, secure and permanent storage solutions may be a key driver of the transition from Web 2.0 to Web 3.0.

How does decentralized storage work? What sets Arweave apart from its existing competitors? This research will explore the Arweave ecosystem in detail, including its history, technology and the ecosystem, and the key players behind its development.

Check out the full version of the report HERE.

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Cryptomeria Capital Launches Multifunctional Venue in Singapore

Cryptomeria Capital — Mon, 10 Apr 2023 12:41:30 GMT

The VC will join SkyArk Studio’s blockchain hub for leading industry players in the region

Business Insider | Bloomberg | Yahoo! Finance

Crypto venture capital firm Cryptomeria Capital announces the launch of the space within the largest blockchain incubator hub in Singapore — an initiative spearheaded by Web3 gaming veteran SkyArk Studios.

Cryptomeria Capital will use the venue to organize industry events and invite projects for scaling up and incubation. The space will also serve as a gateway to Asia for the fund’s portfolio companies. Teams that receive investments from Cryptomeria Capital will be able to secure a spot to be showcased at this Singapore site as well. Full-suite data network PARSIQ will be the first portfolio project to take advantage of this opportunity.

We’re extremely excited to be part of SkyArk’s endeavor — especially because we have previously invested in this company. Considering the impressive dynamic of the Asian blockchain sector and the ever-increasing pace of mass adoption in the region, it’s been a dream for many to expand and invest here. We’re excited to contribute to the Singapore Web3 ecosystem. Our presence in the hub will be a value add to our portfolio companies, serving as an entry point and a bridge to a promising and exciting market.

— Vadim Krekotin, Founding Partner of Cryptomeria Capital

SkyArk is delighted to form strategic partnerships with Cryptomeria Capital to grow the Web3 blockchain community through incubators, accelerators, and hackathon events; implement joint R&D on innovative decentralized governance technologies, DAO infrastructures, and Metaverses.

— Kelvin Chua, Co-founder of SkyArk

PARSIQ is delighted to announce our partnership with Cryptomeria Capital and SkyArk Studios on this accelerator hub in Singapore — we are excited to work alongside such innovative and forward-thinking companies.

— Tom Tirman, CEO of PARSIQ

The region has already demonstrated impressive growth in the blockchain space and it feels like the talent is at the tipping point of enormous innovation. PARSIQ is committed to continue this drive forward by providing innovative projects with cutting edge blockchain data solutions, and we look forward to the exciting synergies which lie ahead in this initiative.”

The hub is already home to multiple promising Web3 gaming projects such as Legends Arise, House of Heroes, and others.

Cryptomeria Capital is a crypto fund backed by blockchain industry experts. The focus is exclusively on ventures, tokens, and projects related to blockchain technology and crypto assets. The firm has a corporate partnership with Axon Partners Group, an international consulting and investment firm that has backed over 50 companies and trades on the BME Growth Market under the ticker “APG”.

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https://medium.com/media/e1bf8adc195b9101341e7b8cfde3f502/href

SkyArk Studio is Singapore s leading blockchain game studio and envisions building a platform that supports multiple game titles and offers NFT interoperability across titles. Enabling traditional studios to launch web3 projects. Providing Gamefi-as-a-service and becoming a partner to every chain.

PARSIQ is a full-suite data network for building the backend of all Web3 dApps & protocols. The Tsunami API provides blockchain projects with real-time and historical data querying abilities. Data Lake APIs allow complex data querying & filtering for any project; specifically designed and tailored to their data needs. Supported chains: Ethereum, Polygon, BNB Chain, Avalanche, Arbitrum.

Cryptomeria Capital Joins Forces with Axon Partners Group

Cryptomeria Capital — Fri, 03 Mar 2023 10:45:48 GMT

Cryptomeria Capital has officially joined forces with Axon, one of the leading Web2 investment funds in the world. This strategic partnership marks a new era for both parties and for the Web3 ecosystem as a whole.

To celebrate this milestone, we hosted an exclusive event at the stunning Address Fountain View in Dubai last night. The event was co-organized with our amazing partners Chabaud and Metaverse Post, who helped us create a memorable and immersive experience for our guests.

The partnership with Axon will enable Cryptomeria Capital to leverage their expertise and network in the Web2 space and accelerate our investments in Web3 projects. We believe that this collaboration will bring tremendous value to both sides and open up new horizons for innovation and growth.

During the event, Metaverse Post interviewed some of our distinguished guests, including influential bloggers with millions of followers across various platforms. They also captured the essence of Dubai’s vibrant tech scene and its potential for Web3 adoption.

Chabaud, another partner of the event, is a renowned French fragrance brand that specializes in creating bespoke scents. They transformed the venue into a sensory paradise with their exquisite aromas and elegant decor. We are grateful to Chabaud for their professionalism and creativity.

We were honored to have such a diverse and high-profile crowd at our event last night. Our guest list included prominent Dubai-based family offices who are interested in exploring Web3 opportunities, as well as representatives from Julius Baer, Roland Berger, and Aoudi Group among other prestigious institutions.

We would like to thank everyone who co-organized and attended our event for making it such a success! We look forward to working with you all on building a better future for Web3!

About Cryptomeria Capital
Cryptomeria Capital is a Web3-focused venture capital firm that is passionate about the future of decentralized technology. Their investments are focused on early-stage projects steeped in Web3 innovations and decentralized scaling solutions. The company’s founders believe that decentralized projects, cryptocurrencies, and Web3 will dramatically reshape economic relations, which has the potential to bring about a positive impact on society as a whole.

Cryptomeria’s stated mission is to support this transformation by providing early-stage financing to the most ambitious projects in this young and rapidly developing industry. These goals aim to be achieved by combining team experience, along with new and established networks, in an effort to actively support the most promising teams in the market.

About Axon Partners Group
Axon Partners Group (‘Axon’) is an international investment and consulting firm founded in 2006. Axon combines the flexibility and speed of a specialist firm with excellence in business advice and execution in all the sectors impacted by technology and innovation. Their multidisciplinary experts possess extensive track records and complementary expertise in the investment and advisory fields.

The firm offers services such as first-class specialty strategy consulting empowered by strong analytical skills, as well as investment strategies serving as a key partner to entrepreneurs and fund managers. Axon has a top-quartile track record in venture capital, including direct investment and Fund of Fund strategies.

Open 3D Engine VS Unreal Engine 5 [Research]

Cryptomeria Capital — Fri, 03 Feb 2023 11:29:16 GMT

With gaming expected to be a hugely important driver of Web3 mass adoption, it’s no surprise that our first report of 2023 explores two new-generation game engines that may have what it takes to power this transition. Together with our partners Everyrealm, SkyArk and Mad Oath we researched the rookie Open 3D Engine and the veteran Unreal Engine 5 to give you the full scoop on their tech specs, capabilities, teams and potential.

If we want tons of new games and metaverse projects to emerge in the near future, we need to build modular architecture that will enable the transfer of existing working solutions from one project to another. This feature is also very important for an open-source leaning space like the Web3. O3DE Gem modular technology might just do the trick.

One of the biggest criticisms of games in the metaverse is that they lack in entertainment value, user experience quality and graphics. With Unreal Engine 5, there is hope for Web3 games to rival legacy games, a lot of which are build on the Unreal Engine. The expectation is that users will receive expected graphic quality that they got used to via their previous gaming experience.

This is just the tip of the iceberg. If you’re keen to learn more, check out the full read here.

Cryptomeria Capital is a crypto fund backed by blockchain industry experts. The focus is exclusively on ventures, tokens, and projects related to blockchain technology and crypto assets. The firm has a corporate partnership with Axon Partners Group, an international consulting and investment firm that has backed over 50 companies and trades on the BME Growth Market under the ticker “APG”.

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Cryptomeria Capital Launches Internship Program

Cryptomeria Capital — Wed, 25 Jan 2023 15:41:08 GMT

Talented young recruits will learn the ins and outs of venture capital in a blockchain-driven space.

Web3 and metaverse VC firm Cryptomeria Capital is launching an internship program for high-performing university students.

The fund is looking for candidates with high GPAs and academic backgrounds in math and economics. The structure and content of the program will allow interns to get hands-on experience in market research, data analysis, strategy development and fundraising.

“At Cryptomeria Capital, we understand that people are our industry’s most valuable asset — and we don’t believe in gatekeeping. Our goal is to recruit passionate and driven young individuals that are excited to move the needle in decentralized technologies, and we look forward to sharing what we ourselves have learned along the way in our venture capital journey,” says Alex Mukhin, Co-founder and Managing Partner at Cryptomeria Capital.

If interested in applying, please send a resume and cover letter to contact@cryptomeriacapital.com.

Cryptomeria Capital is a crypto fund backed by blockchain industry experts. The focus is exclusively on ventures, tokens, and projects related to blockchain technology and crypto assets. The firm has a corporate partnership with Axon Partners Group, an international consulting and investment firm that has backed over 50 companies and trades on the BME Growth Market under the ticker “APG”.

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