Dragonfly.xyz – Google Domains customer – (United States)
Innovative crypto-focused businesses have been embracing .xyz domains and upgrading to domain names that signal their forward-thinking status. Square, Inc., the parent company of popular services such as Cash App, Square credit card reader, and Bitcoin-focused Spiral.xyz, rebranded to Block.xyz to indicate their intention of continued expansion. Kenya-based web3 company Mara upgraded to Mara.xyz as part of its mission to help increase the number of Africans who can participate in the crypto economy. Collectible trading card platform Alt upgraded to Alt.xyz as they expanded their alternative assets platform to include options for buying, selling, storing, and borrowing against valuable trading cards. In this week’s #WebsiteWednesday, we’ll introduce you to a newly rebranded global investment firm with a focus on crypto projects: Dragonfly.xyz.
Dragonfly.xyz is the online home of newly named crypto investment firm Dragonfly (previously Dragonfly Capital Partners). As stated on their website, the San Francisco-based Dragonfly.xyz backs teams building generational companies and products in crypto across sectors and stages. The firm’s global team works with crypto founders in all stages of development on protocols, exchanges, apps, and more. They particularly enjoy backing teams working on “something weird” and pushing the boundaries of the industry. Founded in 2018, the firm’s investment portfolio includes blockchain platform Near Protocol, lending platform MakerDAO, and blockchain-focused innovation lab Matter Labs. Dragonfly.xyz has raised a total of $950M across four funds. The latest fund, Dragonfly Fund III, was announced on April 27, 2022 and raised a total of $650M.1 On August 15, 2022, Dragonfly.xyz announced their acquisition of MetaStable Capital, a crypto asset hedge fund that was originally founded in 2014 and boasts crypto projects such as Ethereum and blockchain network Cosmos as some of its early investments.2 At the same time, the firm also introduced their newly rebranded name, logo, and hacker-inspired website. In an effort to signal a global presence and deep technical expertise, the firm upgraded their domain from DCP.capital to the memorable and universally friendly Dragonfly.xyz.
Introducing the new face of Dragonfly: https://t.co/APaXxUtLmv
gm, everyone. gm.
— Dragonfly ＞|＜ (@dragonfly_xyz) August 15, 2022
Managing Partner Haseeb Qureshi shared more information about Dragonfly.xyz’s rebranding in a post on the firm’s Medium profile. “We’re dropping the ‘Capital’ from our name, and our new look is more crypto-native, inspired by the hackers and weirdos (we say with love!) who have built this industry from the ground up. Our aesthetic is less Patagonia, more ASCII; less stock photo, more glitch art. Check it out at our new domain, Dragonfly.xyz.”3 Haseeb also explains that he wants to bring attention to the company’s deep technical experience, because crypto is advanced by technological breakthroughs. He shares his belief that an investment approach without understanding of the technology is going to be lacking. This belief informed the development of the Dragonfly.xyz team to include technologists, hackers, and researchers.
We are happy to welcome Dragonfly.xyz into the .xyz community of innovators and forward-thinkers, and we look forward to seeing their continued growth. You can learn more by following the firm on Twitter and LinkedIn, and by visiting Dragonfly.xyz.
1. https://www.crunchbase.com/search/funds/field/organizations/funds_total/dragonfly-capital-partners-eed4
2. https://www.bloomberg.com/news/articles/2022-08-15/crypto-venture-company-dragonfly-acquires-hedge-fund-rebrands?leadSource=uverify%20wall
3. https://medium.com/dragonfly-research/re-introducing-dragonfly-f6a2deb7078a
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