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Hoskinson Says VCs Would Rather Invest in FTX and Terra Than Cardano

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Hoskinson says VCs prefer to deploy capital into FTX and Terra than Cardano.

It is common knowledge that Cardano has not received much Venture Capitalists (VCs) support like other blockchain projects. Cardano’s lack of VC support has prompted discussions across various social media platforms.

In a recent tweet, Paula Manuel, COO of Cardano-based Pavia Metaverse, disclosed that VCs have consistently refused to invest in Pavia because it is built on the Cardano blockchain.

“I’ve had a number of conversations with VCs over the last few months. When we mention we are building on #Cardano, they winced and said ‘Eww, no thanks. We may be in the business of risk, but not risk on risk!” Manuel said. 

Patrick Tobler, the founder of Cardano-based Web3 infrastructure NMKR, corroborated Manuel’s claim. According to Tobler, he received a mail from a VC explaining that it will not invest in any project related to Cardano.

(By Lele Jima)

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