Despite the recent pullback in crypto markets, the Web3 industry still seems to be in good shape. Corresponding Fortuna MagazineVC investment in Web3 is expected to hit another all-time high this year after surpassing $18 billion in the first half of 2022.
From DOAs and NFTs to DeFi and play-to-earn (P2E) games, investors clearly remain optimistic about the long-term prospects of the Web3 ecosystem. It’s no surprise, then, that innovation in these sectors is happening at breakneck speed.
However, as the industry is still in its infancy, many startups and Web3 founders find it difficult to navigate the complex and often fragmented ecosystem. As a result, brilliant ideas may never see the light of day due to a lack of funding or the right team to execute them. This is where YARD Hub comes into play.
Get to know YARD Hub
YARD hub is a Dubai based venture studio specializing in all things Web3. The studio’s goal is to help founders and teams increase their chances of successfully turning ideas into ventures by providing a proven framework to navigate the industry.
This is facilitated by YARD Hub’s highly experienced team, who have a deep understanding of the Web3 industry and can provide expert advice on everything from fundraising to product development, while eliminating many of the mistakes that founders make in the early stages make a startup.
The team also handles back office processes like HR, compliance and legal obligations so founders can focus on what they do best: building great products.
“Venture Studios caters to the growth and quality of the Web3 industry, which is young and lacking experienced founders and proven frameworks. Venture studios help address the issues every startup experiences, and Web3 is no exception.” said Yaroslav Shakula, CEO of YARD Hub.
Supplement to the VC model
While many people see Venture Studios as being in direct competition with VC (Venture Capital), that’s simply not the case. In reality, both models can (and do) complement each other very well.
“(Venture Studios) are fully dedicated to systematically creating new businesses from the ground up. As such, venture studios are definitely not going to replace VCs, as they evolved to complement and bolster the VC model, rather than disrupting or replacing it.” explained Shakula.
“For VCs, venture studios are a source of quality projects to invest in,” he added.
startups to date
The team behind YARD Bird started investing in Web3 startups back in 2020 and decided to found the studio after seeing firsthand the challenges and opportunities that come with building in this space. Establishing a studio has allowed the team to make the process more organized, sustainable and scalable, which is more conducive to long-term success.
To date, the studio has raised over $2.5 million, which has been used to fund its operations and provide seed capital for the projects, some of which have been taken out of “stealth mode” and into the public domain. These projects include:
deep mine – A unique play-to-earn social economy strategy in the expanding sci-fi metaverse based on WAX blockchain with multichain support under development. Its sophisticated and balanced economic system creates an immersive experience and sustainable long-term ROI. (Winner of the 2022 AIBC GameFi Project of the Year and has over $3 million in total trading volume).
Petobots – NFT collectible multichain GameFi project with social features that allow players to both cooperate and compete with each other. Petobots is part of the expanding sci-fi metaverse centered around the game DeepMine.
CryptoAlma – A gamified learning platform that offers Web3 businesses a new way to onboard verified users and give them a more engaging and rewarding way to learn more about their product through a more fun and learnable approach.
beNFT – NFT-based developer of business solutions for entrepreneurs looking for new ways to bring innovative technology products to market. BENFT offers ready-made, turnkey business scenarios without technical knowledge and the self-adaptation of processes.
CarBar – A platform offering rights to rent luxury cars in Dubai as NFTs [built on the BeNFT platform].
“Our global focus is on Web3 and as we add new projects to our portfolio, we make sure they are aligned in a way that all are mutually beneficial. In this way they contribute to the YARD Hub ecosystem.
“Projects within a hub can be clients to each other: for example, when we launch a new game, we can test it over one of our other projects by providing user feedback.” said Shakula.
Navigating the Bear Market
It’s safe to say that the markets have not been kind to YARD Hub or the crypto industry at large over the past few months. Despite this, Shakula and his team remain positive and continue to invest in new projects while focusing on value creation rather than pursuing growth.
“Rather than pushing startups to grow, we focus on building high-quality products, testing hypotheses, and validating ideas. We also develop customer relationships and make connections. I would say we are preparing our portfolio companies for the new crypto spring whenever it comes.” explained Shakula.
With a strong focus on Web3 and a solid portfolio of projects already underway, YARD Hub is well positioned to benefit from the growth of this emerging industry.
While the current bear market may put pressure on the studio, Shakula and his team are positive about the future and confident that they will weather the storm and create even more successful projects in the months and years to come.
“In the Web3 industry, the potential is huge, the possibilities are limitless, and I actually believe we are on the brink of a whole new world: the world of creativity, of blockchain-driven business, of more credible relationships.” said Shakula.