OP Crypto Founder Cites Gaming, Web 3 Drivers Of Cryto Economy

Photo from RePlay magazine

Read the full article by Sam Bourgi here

The venture fund led by David Gan is backed by Digital Currency Group, Galaxy Digital, Huobi Ventures, Bybit’s venture arm and others.

Shortly after launching it’s $25 million venture fund, OP crypto capital management Ltd. is seeking new ways to gain exposure to the newly founded Web 3 economy.

David Gan spoke with Cointelegraph, after more than three years at Huobi Ventures and Huobi Labs, Gan transitioned to his new role seamlessly, he said One of the primary motivations for creating the new fund was greater flexibility and autonomy in investment decisions. “In my former firm, as we grew to 2,000 employees, it was more difficult and challenging to move fast, considering the rapid pace of innovation in the crypto industry,” he explained.

The real value proposition of Web 3

When asked about the value proposition of Web 3 — a broad concept that describes the third generation of internet services.

He described the emergence of a “universal state layer” for managing data, which enables value settlement directly on the internet. He further explained:

“It allows us to send files in a copy-protected way, enabling true peer-to-peer transactions without intermediaries. In essence, Web 3 provides individuals with a new way to use the Internet without giving up their privacy and valuable information.”

Gan went into further detail stating that over 41 million gamers have exposure to cryptocurrency of which, 38% of them are millennials ranging between 21 and 38.

“Millennial gamers hold 55% of all crypto assets, compared to just 5% of all Millennials, showing that gamers are far more likely to hold crypto than the average person. Eighty percent of gamers who own crypto are also interested in using cryptocurrency to purchase games and in-game items.”