MemeFi, TwitterFi and TelegramFi to lead next web3 cycle: ex-Binance VC

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By BitcoinWiki News

Key Takeaways:

– Xin Jiang, founding partner at Old Fashion Research, believes that the primary and secondary markets in crypto have bottomed out, making it the best time to invest in web3.
– Xin Jiang thinks that projects like memecoins, Friend.tech, and Unibots are where the opportunities lie in the current cycle.
– Xin Jiang emphasizes that crypto does not need more infrastructure projects, as the existing infrastructure can sustain the market.
– Scalability and decentralization are not issues in the crypto space, thanks to Solana, Ethereum Layer 2 rollups, and incoming zkEVMs.
– Old Fashion Research was founded in late 2021 by Ling Zhang, Wayne Fu, and Xin Jiang, all of whom have experience in the crypto industry.
– OFR recently revealed a $100 million fund focused on blockchain investments.
– Xin Jiang highlights the success of memecoins, Friend.tech, and Unibots in leveraging social media platforms like Twitter and Telegram.
– Memecoins offer a more equitable token mechanism compared to VC-backed tokens.
– Friend.tech is seen as a financial product built on top of the user network of the social network formerly known as Twitter.
– Unibots taps into Telegram’s user base and offers features tailored for meme traders.
– For a dapp to achieve widespread adoption, it should encompass product, subculture creativity, and tokenomics elements.
– Xin Jiang believes that “MemeFi,” “TwitterFi,” and “TelegramFi” dapps that combine these elements are most likely to succeed in the next cycle.


Venture capitalist Xin Jiang believes that the primary and secondary markets in the crypto industry have reached their lows, making it an ideal time to invest in web3 projects. Jiang highlights memecoins, Friend.tech, and Unibots as promising investment opportunities. He argues that the crypto industry does not need more infrastructure projects, as the existing infrastructure can sustain the industry through the next bull run. Scalability and decentralization are not issues, but the industry lacks “killer apps” for the current cycle.

Old Fashion Research, a venture capital firm, was founded in late 2021 by Ling Zhang, Wayne Fu, and Xin Jiang. The firm recently revealed a $100 million fund focused on blockchain investments. Their portfolio includes companies like Nansen, Mexc Global, Pudgy Penguins, and WOO Network.

Jiang emphasizes the importance of leveraging social media and messaging platforms like Twitter and Telegram in the development of new DeFi projects. Memecoins have gained traction in the crypto world, offering a more equitable token mechanism compared to VC-backed tokens. Friend.tech, which monetizes the user network of Twitter (now known as X), is seen as a financial product rather than a social platform. Unibots taps into Telegram’s user base and offers features tailored for meme traders.

To achieve widespread adoption, dapps should encompass product, subculture creativity, and tokenomics elements. Jiang suggests that “MemeFi,” “TwitterFi,” and “TelegramFi” dapps that combine these elements are likely to succeed in the next cycle.

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