Metta World Peace: NBA All-Star-Turned-Web3 Investor Has This Advice for Entrepreneurs Launching a Startup

Metta World Peace: NBA All-Star-Turned-Web3 Investor Has This Advice for Entrepreneurs Launching a Startup

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If you’re reading this, chances are you’ll agree with it: Start a Web3 business It can be overwhelming and confusing. That’s how it felt when I started funding my business using Web3 solutions for early stage crowdfunding. It seemed impossible to complete the learning curve. After sitting down with Metta World Peace, a former Lakers legend who brought home a 2010 NBA Championship, my perspective changed. He taught me how Tru evaluates his $1 billion venture capital fund. portfolio investments.

Metta explained to me that there are two types of founders. There are those who have the education and experience, and then there are those who are visionaries and know exactly where they want. He believes that the founders he wants to invest in take calculated risks. “You want to take it one step at a time, ensure you’re building a quality product, and test it before you invest too much money in the wrong tech architecture. I’ve seen so many people lose so much of their investment money so quickly.”

In today’s world, a calculated approach is more important than ever. volatile market. Despite the bankruptcy filings recently crypto exchange FTXEntrepreneurs are innovating and building in this sector. The Blockchain market worldwide According to recent estimates, it is still expected that the company will be worth around $67 billion by 2026. Cornell University research. The total crypto currency is still worth more than Bitcoin. Market cap The market is valued at $900 billion and hundreds of Web3 projects have raised billions. Metta sees opportunities in this emerging market despite the uncertain economic times and is investing in blockchain technology projects right now.

It may not be the case for everyone. Venture capital investment Money is everywhere The drop in sales was cut in half Many entrepreneurs are now looking for alternative funding options to raise venture capital.

1. Fundraising and finding investors

Are you a veteran investor in traditional startups or crypto startups? Investing in New cryptocurrency projects It is easily accessible. Some might argue that it is too easy to use these products. There are many. New fraudulent projects This Industry is highly competitive so do your research before you invest in it.

Crowdfunding tools can make it easier to raise funds for yourself than traditional finance. “Using crowdfunding tools is a novel way for founders to raise money. Metta explained that this is attractive for founders who don’t have connections with angel investors, venture capitalists, or investors. For example, raising money via cold emails in Silicon Valley can be difficult and often requires a relationship to an investor to get a foot into the door. It can be difficult to navigate the world of venture capital when you consider all the obstacles and hurdles you will need to overcome in order to meet investors without a network. Many founders are considering crowdfunding as an alternative or addition to venture capital.

Metta World Peace is aware of the importance of crowd-sourcing startups for Web2’s future as it enters Web3. Metta has been focusing his attention on the tech and entrepreneurial industries since his official retirement in 2017. He is an investor and a spokesperson for many small businesses.

Orbiiit Technology, for example, is a company that Metta invested in as an early investor. The company launched “The Pitch,” a virtual competition that was launched in October 2022. It will close on November 28 2022. The competition aims to find the next unicorn startup founder. Metta is a startup judge.

Think Shark Tank, but online. Startups can compete for capital and in-kind prizes that will help them grow without losing any equity. Metta and Nader Navabi, founder of Orbiiit, judge the contest. They will work together to evaluate the top 10 contestants. The $25,000 cash prize and a Zoom mentoring session with Metta and members of the investment committee will be awarded to the first place winner.

However, not everyone can raise funds or compete in “The Pitch” — which is why investing and saving could be the best option.

2. Savings and investing

Many entrepreneurs start their business after investing, saving and then starting when they are ready. nest egg Is ready to hatch. Metta advises that you should get a steady stream of revenue to help you get ahead. Strategic thinking is key to success in the job. side hustle You can also choose the right path to reach your entrepreneurial goals.

Let’s say that you are building a coffee business. You can learn the systems at Starbucks by working in the mail room. This will allow you to make some extra money while also learning. Start in the mailroom if you are interested in starting a FinTech app. He advised that you do whatever it takes to learn something that will have a positive impact on your company. He said, “Do this while you are slowly saving money to self finance your business. The more equity you have to hold on to and improve the business, the better.”

Metta believes that to survive, you need more money. Selling digital goods This is one way to make passive income to help fund your startup. Let’s say you sell original IP or you make secondary sales by buying low and then selling high. You can also save money on payroll by paying your employees in equity tokens, NFTs, or tokens. If you have digital assets, you can lock them up to put your money to use. Decentralized finance platforms You can earn yield, but be careful about which platforms you choose because this option is extremely risky.

3. Establish connections

“Building connections helps founders raise money,” says Metta. “If you don’t have connections, it’s going to be difficult for you to get the startup capital that you need.” Web3 allows platforms to decentralize how money is raised.

We live in a highly connected world. It is easy to make connections with people in a highly social world if you are active and willing to learn. When founders don’t have the connections to investors, the most common way they raise money is by bringing in seed investors and advisors. In Silicon Valley, for example, it’s less about how many people you know than about who you know. Even though you may not know many people, if you get to know the right people in venture capital, it can make a big difference. It is common to bring in an advisor who can make vetted introductions to schedule pitch meetings. The advisor will work hard to build a network that can help them secure valuable pitch meetings.

Even if the investor dies, you can still follow up and ask them if they’d mind introducing you to another investor friend who might be a better match. To understand the investor’s portfolio of startups, look at common themes, sectors, stages, and motivations for investing. Keep the dollar value within their normal range. If it is outside of their range, chances are they will pass.

It’s still early. Good ideas are the best. You may have some innovative ideas but don’t know how you can integrate them into the existing market. It might be time to start your own business. Maybe Metta World Peace will invest with you?

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