Crypto Collectibles: The Next Consumer Blockchain Wave
A serial entrepreneur turned investor, David spent 12 years as an internet entrepreneur as cofounder of MyPlay and Apple’s Music Group, Vice President of N2K, and CEO of eMusic. He currently serves as Partner to Venrock and was named the Top 100 Venture Capitalists by CB Insights in 2017 and 2018. David has led early stage investments in Dollar Shave Club (acquired by Unilever for $1 billion), Misty Robotics, Amino Apps, and YouNow, which after traditional funding did an ICO, and oversaw Venrock’s investment in Nest (acquired by Google for $3.2 billion).
Venrock Partner David Pakman collected baseball cards as a kid, even going to collector conventions. Why the fascination by David and a conference floor of people? Collectibles are scarce. But up until now collecting has been a fixture of the real world. For the first 25 years of the internet, we have had no digital scarcity. Blockchains, for the first time, let digital goods become scarce and allow anyone to verify ownership without a central authority. Today, as an investor, David is betting that this will unlock digital collecting, allowing scarce digital goods to be created, sold, auctioned and traded – and, yes, he still has the baseball cards. Touching on his recent investment in Dapper Labs, the creators of CryptoKitties, David will discuss the enormous opportunity he sees in digital collectibles as the second wave of consumer blockchain.
- Develop digital goods to behave like real-world assets, amassing and retaining value
- Avoid headwinds digital collectibles face due to inadequate infrastructure for launching products
- Use blockchain technology for digital collectibles