How Monday Capital is Investing in Pocket and its Service

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POKT Network
Nov 19, 2023
How Monday Capital is Investing in Pocket and its Service

The new wave of tech-based VC firms, including Monday Capital, is using blockchain data to be at the forefront of their industry. Let’s discover how venture capital is delving into the future of Web3 infrastructure and how it benefits from RPC requests with Pocket Network.

Why Does Web3 Need Smart Capital?

There’s an ongoing discussion over the need for new Web3 companies to have the backing of VC firms, while there is a simultaneous concern over the centralization of the industry.Projects with differentiated products, community-oriented and healthy tokenomics, and growth based on real metrics can find in VC firms a partner for the leap into mainstream appeal.Venture capital has a track record of backing the products we use today and shaping the way we live. Their support amid the shift from Web2 to Web3 will help the decentralized industry raise awareness and adoption beyond early devotees to the majority of the population.

Monday Capital’s Investment in the Future of Web3

Monday Capital is a venture capital firm based in New York, investing in companies advancing blockchain technologies and AI/VR. Monday has invested in many promising Web3 projects, including OAK Network and Koii Network, beyond its involvement with Pocket since 2019.Monday also focuses on Layer 1 and Layer 2 networks offering differentiated use cases (such as Harmony) and newer trends in DeFi, oracles, and NFTs. The firm has invested in pioneer projects mixing law and decentralized technologies like Kleros, DEXes like Mangrove and Chainswap, DeFi players like Umbrella and OptionRoom, and NFT projects like TravelX and StarryNift.For Monday Capital:

“Web3 should be unstoppable in every layer, and nodes are the backbone of it. How we access the nodes should be one of the first things that gets decentralized, so we ensure that no one gets left out because of government games and things that affect users that are beyond their reach.”

Monday Capital has Supported Pocket Since 2019

Monday invested in Pocket towards the beginning of our journey in 2019, when the Pocket team was proving the use cases of Web3-based RPC infrastructure to enable node operators and serve decentralized applications.Infrastructure as a Service is something that is at the core thesis of Monday’s fund, and for a good reason: As founders, the team behind Monday has seen, without exception, “infrastructure cost and scalability as one of the main bottlenecks for companies.”Monday was attracted to Pocket’s vision of a unified and decentralized place for application developers to access all the data they need from several blockchains, simplifying the technical nuances and developer experience.As Monday puts it:

“It’s OK to have a node running for local testing or if you are just getting started, but things get complicated at scale. It’s also the biggest cost factor for every growth stage company. As the network grows, having to maintain infrastructure should not be on your daily tasks.”

Pocket’s mission of bringing to the market a decentralized and low-failure rate node network that would serve these decentralized applications, while also aligning incentives for both node operators and dApp developers, brought the investment team to our side.

How Monday Capital is Tapping into Blockchain Data with Pocket Network

How can a venture capital firm benefit from not only investing in, but also using a decentralized RPC provider?Monday is “heavily dependent on data to do their research, detect trends/alpha, and verify pitches they hear daily as investors.”Naturally, running nodes is not their business, and relying on a 3rd party centralized service, with high costs and exposure to single points of failure, was not their choice.The team at Monday “decided to launch a dApp that leverages Pocket Network, and use it as a gateway to blockchain raw data.” They are doing about 1 million daily data relays with not a single issue for the last eight months, using a single API endpoint. “A pretty great experience,” in their words.By using Pocket, Monday has saved on costs and time, since Pocket enables applications to build “on top of reliable infra that they don’t need to maintain.“Companies need to focus on building their products and not the infrastructure to support them. The infrastructure needs to come without excessive DevOps-related costs, as is too often the case today.Pocket is here to replace that cost and time with a reliable, decentralized, and cost-efficient solution.If you’re an application developer looking for blockchain data at scale and an attractive cost, check out our new Pocket Portal and “Pay As You Go” (PAYG) model suited to your needs. You can enjoy up to 250,000 daily relays for free from the get-go.Learn more about how we can help your application.

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