Unbounded Capital recently released its 2022 review and some forecasts for 2023.
I read it all and was so impressed that I decided to write this recap for CoinGeek readers.
If you haven’t read it yet, read Zach Resnick and David Mullen-Muhr’s review of Unbounded Capital 2022.
Long-term value creation thesis is working
Unbounded begins by repeating the stance that long-term value creation is the goal. Because it never embraced the “cryptocurrency” zeitgeist, Unbounded Capital and its investors were largely shielded from turmoil when the market collapsed in 2022, leaving so-called blue chip companies to benefit. .
Anyone who’s heard of Zach Resnick or anyone else at the company already knows they have the big picture firmly in mind. It’s all about micropayments, scaling, and creating real companies that deliver value. The token pump-and-dump and broken tech that characterize the industry don’t interest them and they’re already starting to make a profit.
We understand it’s hard to be contrarian in a money-grabbing environment. However, value is not created overnight. I’m sure this approach will be better in the long run. – Unbounded Capital 2021 review
How are Unbounded Capitals’ BSV portfolio companies performing?
hand cash
The review cites a partnership with Circle to process USDC on Bitcoin SV (BSV) rails as a major development this year. This has been successfully tested in a beta environment and will be live soon. Unbounded says this is crucial in getting his tens of millions of USDC users and makes it much easier for BSV companies to onboard them.
The report also mentions UX improvements and ConnectSDK advancements to make it easier for developers to build BSV applications. Unbounded expects more developers to use his HandCash developer suite to launch their companies in 2023 and beyond.
Heist
2022 has been a year of growth for Haste, both in terms of product offerings and user base. It has become a true Instant Leaderboard Payout Arcade with new game offerings and 3rd party games built using its SDK.
Heist also introduced buy, sell, and trade elements such as player cards and non-fungible tokens (NFTs) in game collectibles. In addition to this, the company has seen solid growth with his TakeIt NFT platform.
The review describes Haste founders Dan Wagner and Joe DePinto as “visionary entrepreneurs” and predicts a very bright future for the company. Unbounded Capital puts a lot of trust in Haste, allocating funds from Fund II to its latest seed round.
unisot
Latest news from both the EU and the US has made UNISOT one of the few companies in the world with existing products in compliance with EU and US regulations related to supply chains, including the FDA Food Safety Modernization Act. may become.
With the arrival of Christen Ager-Hanssen at nChain and his determination to introduce BSV’s company and products to an extensive network of business leaders and colleagues, the future looks bright for UNISOT. According to Unbounded’s report, 2023 could be a “tipping point” for the company.
Xoken Lab
Xoken may not be a company BSV users have heard of, but they build critical tools and cutting-edge solutions that are critical to BSV scalability. Unbounded sees tools surpassing the scale of AWS and expects demand for the tools to skyrocket as overall demand for using the BSV blockchain grows exponentially over the next few years.
One customer for Xoken’s tools could be nChain itself. Unbounded believes these tools will soon become recognized as an integral part of the “ideal Bitcoin node software”. Xoken explains that he is well positioned to play a dominant role in the future.
Run
By most metrics, RUN has become the most successful token protocol on BSV in 2022. By itself, it surpassed Ethereum’s transaction volume (over 400 million). But it didn’t turn out to be a significant revenue stream for the company.
As a result, RUN is rebranding to Aldea and launching a new Layer 1 blockchain. It hasn’t launched yet, but it’s scaling well in our test environment thanks to leveraging elements of his UTXO design for Bitcoin.
The original RUN protocol remains open source and is now available on BSV.
DXS
Unbounded is so excited about DXS’s trading volume, which has already exceeded $4 billion, that it has allocated new funding to the company from Fun II.
The report describes DXS as operating “relatively low profile” while improving its product. However, this will change when USD-denominated trading opens in Q1 2023.
Unbounded expects a significant increase in transaction volume in 2023, and the company’s SaaS solution has great potential to help businesses, including exchanges and payment networks of all kinds, to track and settle transactions. Heading.
tokenization
Unbounded Fund II recently invested in a tokenized seed round. The founder has a clear vision of what the world will look like 10 years from now. Most of the valuable assets are represented in public databases, which he plans to deploy Tokenized to leverage.
In 2022, Tokenized has HandCash as a customer. Unbounded says it is certain there are no competitors in the same league as Tokenized. We look forward to having some of the leading players in asset tokenization as our customers in 2023.
PngMe
PngMe made a smart decision and focused most of its efforts on its enterprise banks in Kenya and Nigeria. According to Resnick and Mullen-Muhr, the move was “prescient” given the macroeconomic environment.
The company has completed an integration with African bank Asba and is using it to advance its enterprise pipeline. What does that pipeline look like? First, it includes 11 of Kenya’s largest banks. Unbounded is “incredibly bullish” on the company.
slippery
SLictionary is a new investment by Unbounded Capital in 2022. While the product is live, the company is in “full product development mode,” according to the report. Changes include switching from MoneyButton to HandCash. I also have an iOS app in the works.
Unbounded describes SLictionary’s long-term opportunity as “underestimated”, noting that Wikipedia is failing to capture its value despite being the seventh most visited site on the Internet. I am listing. SLictionary can succeed where Wikipedia failed.
Flobot
Unbounded invested in Frobots in 2022. For those who don’t know, this is a modular NFT battle bot game best described as “esports for coding”. This product is in beta and is currently available for product testers.
A public version of Frobots is planned for 2023. Unbounded says the game is exciting, but the company’s bigger opportunity is to create a code marketplace powered by micropayments. This is a market that “very likely impacts nearly every industry in the world.”
Unbounded Capitals Predictions for 2023
Continued Decrease in “Crypto”
Unbounded describes 2022 as “catastrophic” for so-called crypto consensus. Collapse and criminal indictments will make headlines and continue to disrupt the zero-sum game that “cryptocurrency” has created. However, Resnick and his team believe this will benefit investors in the long run as the market shifts its focus to utility and true value creation.
The report points to several high-profile companies caught up in 2022 fraud and failure, including Sequoia Capital, BlackRock and Tiger Global. It was difficult for Unbounded Capital to maintain its anti-consensus position amidst a frenzied crash grab, but it emerged unscathed without being exposed to the worst disasters of FTX, FTT, DCG, Genesis and others.
All of this has ripple effects as investors become cautious about anything blockchain related in the near future, but Unbounded remains excited about the future of blockchain technology and its transformative effects.
BSV Ecosystem Grows With Influx Of USDC Users
The rapid growth of newly established BSV companies could continue in 2023 as awareness of the power of BSV increases. Handcash’s integration with USDC will accelerate this process and bring an influx of new entrepreneurs and developers who need USD denominations. DXS and SLictionary will also release USD solutions and other fiat-pegged products.
Combining BSV’s extreme speed, efficiency, and scalability with USDC payments will benefit the entire blockchain sector. More HandCash users thanks to USDC integration will increase the incentive to build apps, which will lead to more users, creating a positive feedback loop in 2023 and beyond.
nChain Promising Development and Major Marketing Push
nChain is one of the largest and most well-capitalized companies in the BSV ecosystem. Now with new leadership under Christen Ager-Hanssen, nChain’s approach has already changed dramatically, becoming more engaging, accessible and supportive. This benefits many of Unbounded’s portfolio companies.
Leveraging nChain’s extensive IP portfolio and working with leading consulting firms, Ager-Hanssen laid out a vision to embed enterprises around the world into BSV solutions and applications.
nChain has already made big moves with UNISOT, which is an Unbounded Capital portfolio company, so we can’t wait to see what happens in 2023.
Unbounded is also seeing a major marketing push by its portfolio companies, as HandCash’s USDC integration reduces friction in user onboarding. Several companies are specifically waiting for this development before spending their advertising dollars. For this reason, 2023 will be a year of significant growth.
BSV breakout application
With all of the above, Unbounded Capital predicts that 2023 will be the year we see breakout BSV applications. It may be an existing app, but it may be one that has yet to be developed.
Unbounded predicts that HandCash itself, or one of its connected apps, could become the breakout application many have been hoping for. Naturally, this is very bullish for the entire BSV ecosystem.
Watch: Highlights from the Unbounded Capital Summit 2022
https://www.youtube.com/watch?v=IlGxVeXxj2E width=”560″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”>
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