Simon Dedic, CEO of Moonrock Capital’s crypto division, has one major wish: More consumer applications.
In the last year, we’ve seen a slew of investments in infra projects — and we’ve even asked the question ourselves over at Blockworks: Are we building too much infrastructure?
Dedic said he’d prefer more consumer-oriented apps to be funded, but he wasn’t surprised that infrastructure would remain the focus of venture capital.
“I just think it’s still kind of the case that infra plays are very easy for VCs,” He said. It’s what the space is currently used to, projects pitch their infrastructure — and they’re notably important to keep building on crypto, of course — and VCs are ready to put their money where their mouths are.
Dedic believes that the idea of first building infrastructure and then trying to gain adoption via consumer apps, is backwards. Why not have both?
“It’s something that can definitely evolve in parallel,” He noted. You may remember that we compared Empire’s Santiago Santos to the Internet a few weeks back. Well, it’s back. Dedic is saying that emails weren’t created 20 years ago, when the internet was still being built. It was the internet that had an early lead. Then, technology took over and we all got inboxes on our phones.
Dedic thinks that VCs should be the ones to lead this charge to a certain degree.
“I think it’s also kind of the responsibility of VCs to … take care of users getting into the space,” He continued. “And not just funding VC circlejerk infra rounds, right?”
Dedic believes that this is starting to play out, and we are beginning to notice it. Dedic also shared his thoughts on SocialFi, given Kaito’s success.
It’s all about his project, which focuses on the utility of users.
“One of the big problems that SocialFi space had so far [was its focus] on speculation and financialization of everything,” He said. It should not be the main focus, but rather a feature.
He’s a specialist in this area. “super bullish” But the story hasn’t taken off yet. Projects like Farcaster — in comparison to something like Kaito — are “too idealistic.” It’s a good critique that the platform is too similar to X.
Dedic would love to see new social experiences on crypto rails. What would Dedic love to see in the space?
Make the barrier to entry higher “as low as possible,” To actually get the mass on board. We want crypto to be used by everyone, after all.
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