In a Wednesday, September 20 announcement, Investor Tim Draper has confirmed the unveiling of Draper Goren Blockchain (DGB), aiming to facilitate building companies from the onset. The crypto accelerator offers a 10-year time horizon to accelerate building decentralized finance (DeFi) innovations.
DGB targets to accelerate the creation of scaling solutions targeting layer-2 networks. The accelerator program seeks to leverage the prolonged bear market dubbed the ‘build phase’ by creating a crypto-centric venture studio. The platform targets building consumer applications involved in bolstering social and gaming experiences.
Draper Unveils End-to-End Crypto Accelerator
The move by Draper is set to affirm his crypto engagement, already being a household name in blockchain activities. In the past, Draper has heavily invested in crypto-oriented ventures.
Draper has in the past cast a pro-bitcoin crusader who has predicted a bullish price for the largest crypto token in market capitalization, as per Coin Gecko. In particular, he called for Bitcoin to realize a $250000 price, yet to eclipse the $70000. Its all-time high still ranks in the $69000 range attained in November 2021.
The DGB accelerator involves a joint project undertaken alongside David Bleznak and Alon Goren, identified as crypto natives. The duo has actively participated alongside Draper in venture funding via Draper Goren Holm. Goren is profiled as a board member within the LunarCrush social analytics. He maintains active input in the Ownera, the institutional-grade network for crypto securities.
Goren lauded fellow partners – Bleznak and Draper for their involvement in unveiling the new venture studio. Although not offering detailed disclosure in the Wednesday, September 20 tweet, it included more details in the newsletter.
DGB to Offer 10-year Acceleration
Bleznak is set to bring his nurtured experience in leading the DeFi aggregation platform Totle. Besides, he supervised institutional products at Coinbase and was portrayed as a venture partner at the Draper Goren Holm.
Goren restated that the DGB approach would differ from the Y Combinator and Techstars. He indicated that DGB would offer end-to-end acceleration for each project.
Goren indicated that they intend to spend a 10-year duration with the selected projects. He added that the DGB would allocate $25000 to $ 100,000 as the pre-seed funding for the startups.
Besides, the DGB accelerator would offer additional focus to partnering with select entrepreneurs towards building the companies from the projects.
Draper Goren Blockchain decries the absence of regulatory clarity on digital assets. Besides, the active clampdown initiated by the Securities and Exchange Commission (SEC) on several crypto projects is a huge hindrance despite the prominent economic status portrayed by the US.
Goren labels the US regulatory environment as portraying a shitshow. He laments that the US was losing its crypto talents and entrepreneurs to overseas destinations with a receptive regulatory climate. He indicates the few remaining entrepreneurs struggle with enormous uncertainty and doubt.
The investor is optimistic that the US crypto ecosystem will change. In particular, Goren admits that the evolving technology could relegate the regulators’ whims to obsolescence at a time he considers favourable for the crypto accelerated investments.
Draper Goren Blockchain targets to blend accelerating DeFi products with scaling solutions. Also, the focus on consumer-centric applications will facilitate boosting crypto adoption.
DGB Accelerator to Consider Projects on Case Basis
Goren laments that the bridge to the crypto community masses is inadequate. Although grateful for the novel technical innovations supporting the core crypto community, he lobbies for an improved crypto user experience. He considers DGB as likely to prioritize improved mainstream acceptance.
Goren indicated that the crypto ecosystem is evolving as various projects witness diverse participation and adoption. He projects that cryptocurrency would likely witness a whirlwind uptake that mirrors the web adoption.
Goren clarified that the DGB accelerator would exclude schedules and cohorts. Instead, it will prioritize the discovery and experimentation of project ideas as they arise. He indicated that Draper Goren Blockchain would soon disclose the details of incubated companies and projects.