Share this article
Uniswap Labs Forms Crypto Ventures Wing
Uniswap Labs Ventures is the latest example of crypto companies investing beyond their core business.
By Cam Thompson
Updated May 9, 2023, 3:42 a.m. Published Apr 11, 2022, 9:46 p.m.
Make us preferred on GoogleThe company behind Ethereum-based decentralized exchange Uniswap has launched a venture wing to invest in projects across Web 3, Uniswap Labs said in a blog post Monday.
Strategy lead Matteo Leibowitz will run Uniswap Labs Ventures with Chief Operating Officer Mary-Catherine Lader, Leibowitz said in the post.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Uniswap has previously invested in 11 crypto projects, including Aave, Compound Protocol and MakerDAO. The venture unit’s focus will range “from infrastructure to developer tools and consumer-facing applications,” the blog post said.
Uniswap Lab Ventures continues the trend of crypto companies investing in Web 3 entities other than themselves. In November, stablecoin issuer Circle launched Circle Ventures Fund, and in January the crypto exchange FTX established FTX Ventures with a $2 billion fund.
The blog post did not disclose the amount of capital in Uniswap’s venture fund.
Lader did not immediately respond to a CoinDesk request for comment.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
What to know:
- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
Top Stories
