Venture Capital: Spartan 2024 Outlook - Nine Areas We're Excited About

The investment, advisory, and lab partners at the renowned venture capital firm Spartan Group recently shared the areas they believe are worth paying attention to in 2024:

• 3A Web3 Games
• Aesthetic Crypto Brands
• Bitcoin Infrastructure
• Consumer Applications
• DePIN
• AI and Blockchain Intersection
• Modular Blockchains
• On-chain Oracles
• RWA Tokenization

Spartan: Rise of AAA Grade Web3 Games

Kelvin Koh, Co-founder and Chief Investment Officer of Spartan Capital, is excited about the next generation of AAA grade Web3 games set to launch in 2024. He believes these games will attract millions of new users and prove that Web3 games are a natural evolution from existing Web2 games.

Criticism: Venture Capitalists' Lack of Understanding in Gaming

Pavel Bains, founder of Bluzelle, criticized the notion of 3A chain games.

In response to Kelvin Koh he stated:

"Please tell me one AAA Web3 game set to release in 2024, and I will give you 5 ETH. Just know that I manage several AAA studios before you reply. So, I can verify if they meet the criteria. But a game with poor balance and only nice visuals doesn't count." He also doesn't believe that receiving substantial funding and having a few game industry workers collaborate with IP qualifies as a 3A game. "VCs simply don't understand what a 3A game is."

Applications based on Bitcoin and the Rise of the Asian Market

Melody He, Co-founder of Spartan Advisors, is particularly interested in four aspects in 2024: the potential of Bitcoin blockchain, next-generation consumer applications, Asia as a cryptocurrency hub, and capital flow towards regulated and local exchanges.

M&A-Driven Industry Consolidation

Casper B. Johansen, Co-founder of Spartan Advisors, expects 2024 to be a year of growth and consolidation in the Web3 industry, especially in the integration among centralized exchanges, involving market, regional, and cross-continental integration.

Key Applications, ZK, and Modular Blockchains

Leeor Groen, General Manager of Spartan Group, looks forward to the industry adopting applications to verify the infrastructure built in Web3 over the past few years. Privacy and security will be crucial driving factors, especially in the realization of value in ZK and modular blockchains.

On-chain Agents, Virtual Goods, and Aesthetic Cryptobrands

Adrian Lai, Chief Innovation Officer of Spartan Labs, is excited about on-chain autonomous agents in 2024, virtual goods and experiences brought by Apple's Vision Pro, and more aesthetically driven native crypto brands.

Concepts discussed in 2023 like Intent Centric, Networked Playable Characters, Crypto AI Agents, NFT applications, and modular account abstractions will brew into a robust economy of autonomous on-chain agents in 2024.

He also looks forward to seeing more aesthetically driven native crypto brands led by innovators like Family, Blackbird, Bebop, Seed Club, Zora, FWB, and others.

DePIN and the Development of the Bitcoin Ecosystem

Cody Poh, Investment Partner at Spartan Group, is excited about the development of DePIN and enhanced functionalities in the Bitcoin ecosystem. He believes these emerging asset classes will bring strong growth momentum to the ecosystem.

The Confluence of Artificial Intelligence and Blockchain

Audrey Taylor-Akwenye, Chief Technology Officer at Spartan Labs, is excited about the common areas of AI and blockchain. She anticipates seeing more ways to leverage AI to enhance user experience and efficiency in Web3 in the coming year, as well as the application of blockchain technology as a regulatory and transparent layer for AI.

Rise of Web3 Consumers, Social, and Gaming

Dana Gan, Partner at Spartan Group, is excited about several aspects of the crypto space in 2024, including the momentum and appeal of new L1 and L2, the growth of retail-oriented consumer applications, and the emergence of more sophisticated Web3 games and metaverse.

Tokenization of Physical Assets and the Development of the Bitcoin Network

Yan Ma, Partner at Spartan Group, is excited about the tokenization of physical assets and the growth of the Bitcoin network. She looks forward to the rise of the Bitcoin network with the introduction of L2 solutions, unlocking massive BTC capital paving the way for institutional adoption.

Conclusion: Multiple Development Directions in 2024

With the end of the bear market in 2023, the blockchain and cryptocurrency space in 2024 is expected to see a range of innovations and developments. From AAA grade Web3 games to strengthening the Bitcoin ecosystem, and the fusion of AI and blockchain, these trends and predictions showcase the diversity and potential of the industry. With technological advancements and market developments, 2024 is undoubtedly set to be an exciting year.