One of the toughest puzzles in crypto is figuring out what to take seriously.
On Friday, the DeFi Alliance — a decentralized finance startup incubator and accelerator — announced a list of 11 new members. Some were predictable, such as oracle provider Chainlink and VC stalwart Blockchain Capital, but one name stood out in particular: eGirl Capital, the social media menace and upstart venture capital outfit inspired by a horned-up Internet subculture.
The announcement prompted an industry-wide heavy sigh and rubbing of the eyes:
— Qiao Wang (@QwQiao) March 26, 2021
eGirl members, such as Degen Spartan, are known just as much for their cogent analysis of crypto’s notoriously complex markets as they are for posting nothing but animated porn for weeks at a time. One member — perhaps one of the best and brightest on cryptoTwitter — dons the social medi persona of a Pokemon, Ditto, that has transformed into a couch so that people will unwittingly sit on them. The constellation of memetic touchstones animating these various comedic bits is too exhausting to summarize and likely worth an anthropological study.
While it might be easy to pass the group off as a joke gone too far (by that standard the t-rex in Jurassic Park is a pet that got off-leash), eGirl has been included in some high-profile press releases of late. The group participated in a $4.9 million funding round for decentralized finance protocol Alchemix, and has also announced investments in Radicle and Unisocks. They’ll be releasing the first episode of a in-house podcast series next week.
As for their funding, in a question-and-answer document this reporter caught a glimpse of a figure prior to a committee decision to delete it and offer no comment in an effort to appear more “mysterious”; if accurate, it was staggeringly high.