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THE LATEST on Crypto: Investment Panel
TheLatest's crypto conference concludes with pitches and responses from the judges panel.
March 29th, 4:15pm
Santa Monica, CA
TheLatest’s crypto conference ended with a panel of judges who listened to three pitches by three entrepreneurs with companies at various levels of progression, some already established, others in earlier stages.
Maryanne Morrow, Rayaan Arif, Pamela Day, Diego Campos, and Kinsey Cronin made up the judges panel, and Pavel Cherkashin moderated, who began by asking the panel of their opinion on the “ideal deal.”
From Diego: “Deals in the video game space, blurring real-world and video game economies.”
Pamela said she’ll only invest in companies using a custodian during an ICO. She also prioritized companies with momentum, meaning those with social media followings and cultural awareness.
Maryanne implored investors to “look for companies in fintech who increase the velocity of money, companies utilizing blockchain and focused on decentralization.”
Rayaan liked any company besides Bitcoin using blockchain tech.
Kinsey was attracted to companies who had true uses for their coin, not just as a use for capital. “If it complicates things it’s pointless. They also must have a social media presence and be open to security tokens,” she said.
Pavel then asked the panel if there was a single phrase that instantly killed their pitch.
Diego: “No reason our business might fail.”
Pamela: “If they use the words ‘futurist’ or ‘visionary,’ it’s a no from me.”
Maryanne: “I hate the words ‘IPO’ and ‘freemium.’”
Rayaan: “‘Decentralized’ is such an overused term.”
Next came the presentations. Up first was LQDEX, an intracoin trading service.
Sergey Nitkin, co-founder, presented, delving into how he founded x-coins, and his service that would foster nearly instant acquisition of various cryptocurrencies. LQDEX offers a risk-free wallet to safely secure any tokens involved in an exchange.
Nitkin fielded the panel’s questions elegantly, and when Pavel asked the judges, by show of hands, who would consider investing, every member expressed interest.
After LQDEX, came EACL, an amateur e-sports competitor league, marketed as the “little league of video games.” They host 1.2 million micro-tournaments per day, with opportunities to win prize money and scholarships.
They are the first amateur gaming league to adopt tokens for pay-to-play and are already well established, claiming support from Shaquille O’Neal and other celebrities. Micheal Reddick, founder and CEO, presented with confidence and eloquence, and though only part of the panel said they would consider investing, due to the EACL model seeming over-complicated, those who said they would invest were enthusiastic about EACL’s potential to grow.
Social House finished up the day. Presented by two young entrepreneurs looking for funding, Social House “allows young people to own property ten to fifteen years before the global credit system allows.”
Social House’s confidence in their product made believers of the crowd, but questions arose in relation to the precarious nature of cryptocurrency in its undeveloped state. Could a homeowner trust in the coin to stay afloat? The panel was impressed with the idea, but skeptics thought presently it may be too idealized.
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