--- title: "Meaning & Key Takeaway of: We are seeing entrepreneurs issuing their…" description: "\"We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world ..." image: "https://sms4smile.com/quotes/i/a7a/olaf-carlson-wee-27882_business_we-are-seeing-entrepreneurs-issuing-thei_1910754.jpg" --- # We are seeing entrepreneurs issuing their own… ![“We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether. The importance of this cannot be overstated - in this new world, there are no companies, just protocols.” quote by Olaf Carlson-Wee](https://sms4smile.com/quotes/i/a7a/olaf-carlson-wee-27882_business_we-are-seeing-entrepreneurs-issuing-thei_1910754.jpg) [Download](https://sms4smile.com/quotes/i/a7a/olaf-carlson-wee-27882_business_we-are-seeing-entrepreneurs-issuing-thei_1910754.jpg) [Open image](https://sms4smile.com/quotes/i/a7a/olaf-carlson-wee-27882_business_we-are-seeing-entrepreneurs-issuing-thei_1910754.jpg) > “We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether. The importance of this cannot be overstated - in this new world, there are no companies, just protocols.” [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Entrepreneurs are creating blockchain tokens to fund networks, bypassing venture capital, emphasizing protocols over companies. **In simple terms:** New funding uses tokens, not VC. Key Takeaway Explore token-based fundraising. Themes finance technology decentralization Mood optimistic analytical Type business technological When to use this quote - startup financing - crypto projects - community building - financial innovation Key Concepts blockchain protocol economics Questions to Reflect On - How can token models ensure investor protection? - What risks do decentralized protocols pose? A Different Perspective Regulatory uncertainty can hinder token initiatives. ★ ★ ★ ★ ★ No ratings yet [Based Tokens](https://sms4smile.com/quotes/about/based-tokens-2876690/) [Blockchain Based](https://sms4smile.com/quotes/about/blockchain-based-965509/) [Business](https://sms4smile.com/quotes/about/business/) [Currency](https://sms4smile.com/quotes/about/currency/) [Entrepreneurs Issuing](https://sms4smile.com/quotes/about/entrepreneurs-issuing-2876689/) [Issuing Blockchain](https://sms4smile.com/quotes/about/issuing-blockchain-2876688/) [Money](https://sms4smile.com/quotes/about/money/) [New](https://sms4smile.com/quotes/about/new/) [Own](https://sms4smile.com/quotes/about/own/) [Seeing](https://sms4smile.com/quotes/about/seeing/) [Venture capital](https://sms4smile.com/quotes/about/venture-capital/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital…](https://sms4smile.com/quotes/olaf-carlson-wee/in-a-world-with-many-blockchains-and-hundreds-of-tradable-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [For the foreseeable future, I'm all about building blockchain-based decentralized services.](https://sms4smile.com/quotes/fred-ehrsam/for-the-foreseeable-future-i-m-all-about-building-blockchain-based/) [Fred Ehrsam](https://sms4smile.com/quotes/author/fred-ehrsam/) > [ICOs are obviously a new and interesting form of funding for blockchain-based protocols, but it's not clear that all of them comply with U.S.…](https://sms4smile.com/quotes/naval-ravikant/icos-are-obviously-a-new-and-interesting-form-of-funding-for/) [Naval Ravikant](https://sms4smile.com/quotes/author/naval-ravikant/) > [A blockchain-based startup could have a product/service as part of what they are developing, but their stride is best hit when they are also…](https://sms4smile.com/quotes/william-mougayar/a-blockchain-based-startup-could-have-a-product-service-as-part-of/) [William Mougayar](https://sms4smile.com/quotes/author/william-mougayar/) > [“And for those of us who are motivated by commitment to a specifically participatory politics of the commons, it’s not at all clear that…](https://sms4smile.com/quotes/adam-greenfield/and-for-those-of-us-who-are-motivated-by-commitment-to-a-specifically/) [Adam Greenfield](https://sms4smile.com/quotes/author/adam-greenfield/) > [There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain…](https://sms4smile.com/quotes/olaf-carlson-wee/there-will-be-many-types-of-assets-codified-into-the-blockchain-and/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Venture capital is a dynamic and people-driven business.](https://sms4smile.com/quotes/steve-jurvetson/venture-capital-is-a-dynamic-and-people-driven-business/) [Steve Jurvetson](https://sms4smile.com/quotes/author/steve-jurvetson/) > [There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them…](https://sms4smile.com/quotes/eric-ries/there-s-nothing-wrong-with-raising-venture-capital-many-lean-startups/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [When you - when you - and this is still going on today - are making your money by pushing paper around, when you…](https://sms4smile.com/quotes/howard-dean/when-you-when-you-and-this-is-still-going-on-today-are-making-your/) [Howard Dean](https://sms4smile.com/quotes/author/howard-dean/) > [When people start talking about venture capital and finances and how to create this and do that, a lot of it, I swear, it's…](https://sms4smile.com/quotes/tony-hawk/when-people-start-talking-about-venture-capital-and-finances-and-how/) [Tony Hawk](https://sms4smile.com/quotes/author/tony-hawk/) > [Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they…](https://sms4smile.com/quotes/charlie-munger/harvard-and-yale-concentrated-with-venture-capitalists-that-got-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I delivered lectures, and I was also a consultant for international companies in finance, both private equity and big venture capital funds.](https://sms4smile.com/quotes/ehud-barak/i-delivered-lectures-and-i-was-also-a-consultant-for-international/) [Ehud Barak](https://sms4smile.com/quotes/author/ehud-barak/) > [All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles.](https://sms4smile.com/quotes/fred-wilson/all-markets-have-boom-and-bust-cycles-and-i-think-venture-capital/) [Fred Wilson](https://sms4smile.com/quotes/author/fred-wilson/) > [“Amidst all the hype and hoopla around this business, I wanted to emphasize the challenge—it is seductive but the failure rate is very high.…](https://sms4smile.com/quotes/mahendra-ramsinghani/amidst-all-the-hype-and-hoopla-around-this-business-i-wanted-to/) [Mahendra Ramsinghani](https://sms4smile.com/quotes/author/mahendra-ramsinghani/) > [Unfortunately, 'climate' has become a dirty word - obviously in politics, but even to some degree in my world, in venture capital. People hesitate…](https://sms4smile.com/quotes/evan-williams/unfortunately-climate-has-become-a-dirty-word-obviously-in-politics/) [Evan Williams](https://sms4smile.com/quotes/author/evan-williams/) ## More by Olaf Carlson-Wee > [In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital…](https://sms4smile.com/quotes/olaf-carlson-wee/in-a-world-with-many-blockchains-and-hundreds-of-tradable-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [This is unproven technology, and if you don't know what you're doing, you shouldn't interact with tokens - from an investor and security perspective.](https://sms4smile.com/quotes/olaf-carlson-wee/this-is-unproven-technology-and-if-you-don-t-know-what-you-re-doing/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [For the first time, entrepreneurs can monetize their own open-source and peer-to-peer network. They can crowdfund and raise money from people across the world…](https://sms4smile.com/quotes/olaf-carlson-wee/for-the-first-time-entrepreneurs-can-monetize-their-own-open-source/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can…](https://sms4smile.com/quotes/olaf-carlson-wee/application-specific-tokens-or-app-tokens-are-built-on-top-of/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain…](https://sms4smile.com/quotes/olaf-carlson-wee/there-will-be-many-types-of-assets-codified-into-the-blockchain-and/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [It doesn't always make sense to have a token on the blockchain that is both useful and represents ownership - it has to be…](https://sms4smile.com/quotes/olaf-carlson-wee/it-doesn-t-always-make-sense-to-have-a-token-on-the-blockchain-that/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It…](https://sms4smile.com/quotes/olaf-carlson-wee/taxes-have-been-complicated-every-single-time-i-spend-a-bitcoin-it-s/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [If the Numerai fund performs well, that should lead to more assets under management, which should lead to more revenue for Numerai's general partner,…](https://sms4smile.com/quotes/olaf-carlson-wee/if-the-numerai-fund-performs-well-that-should-lead-to-more-assets/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I've been through a lot of moments when other people thought Bitcoin was going to implode, and in those instances, I generally have seen…](https://sms4smile.com/quotes/olaf-carlson-wee/i-ve-been-through-a-lot-of-moments-when-other-people-thought-bitcoin/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [We are seeing more managed money and, to an extent, institutional money entering the space. Anecdotally speaking, I know of many people who are…](https://sms4smile.com/quotes/olaf-carlson-wee/we-are-seeing-more-managed-money-and-to-an-extent-institutional-money/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-is-investing-in-blockchain-assets-we-do-not-invest-in/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [When decentralized blockchain protocols start displacing the centralized web services that dominate the current Internet, we'll start to see real internet-based sovereignty. The future…](https://sms4smile.com/quotes/olaf-carlson-wee/when-decentralized-blockchain-protocols-start-displacing-the/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But…](https://sms4smile.com/quotes/olaf-carlson-wee/i-think-the-technology-will-get-bigger-and-the-price-of-bitcoin-will/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain manages a hedge fund that invests exclusively in digital assets. We invest exclusively in protocols, not companies, and we do this by investing…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-manages-a-hedge-fund-that-invests-exclusively-in-digital/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [For the first time, open source, peer-to-peer protocol developers can monetize their project on a protocol level.](https://sms4smile.com/quotes/olaf-carlson-wee/for-the-first-time-open-source-peer-to-peer-protocol-developers-can/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) [Explore all 20 Olaf Carlson-Wee quotes ](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## More Business quotes > [Companies with cultures that celebrate diverse opinions and encourage the exchange of ideas have an advantage when solving difficult problems. 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