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VENTURES

Advancing crypto and Web3

Coinbase Ventures invests in exceptional founders who share Coinbase’s mission of creating more economic freedom for the world.

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Ventures

Our Mission

We back exceptional entrepreneurs working to advance the crypto/Web3 ecosystem and support Coinbase’s mission of creating more economic freedom for the world. We partner with founding teams at the earliest stages, and invest broadly across all categories within the cryptoeconomy. We have invested in hundreds of teams building everything from layer 1 protocols, Web3 infrastructure, centralized on-ramps, decentralized finance, NFTs, metaverse technologies, developer tooling, and more.  We strive to be strategic partners for founders and take a collaborative approach to investing. We support founders through operational experience, distribution, strategic partnerships, and more.

Our Portfolio

Offchain Labs
Arbitrum

L2 scaling platform for Ethereum via optimistic roll-ups

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Dune

Multichain data for developers and analysts

EigenLayer
EigenLayer

Universal validation platform enabling re-use of staked assets across blockchains

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Etherscan

Blockchain explorer & analytics platform for Ethereum

Farcaster
Farcaster

Web3 native social network / graph and open protocol enabling users to own the relationship with their audience

magic eden
Magic Eden

Leading NFT Marketplace (OpenSea) on Solana

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OpenSea

The world’s first and largest NFT marketplace

Optimism
Optimism

Low-cost and lightning-fast optimistic rollup L2 for Ethereum

Logo Starkware
Starkware

L2 scaling powered by ZK rollups

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Uniswap

Largest onchain marketplace, buy and sell crypto on Ethereum and 12+ other chains

XMTP
Ephemera

Ephemera helps build private and decentralized messaging

zora
Zora

Decentralized protocol empowering creators to mint, share, and collect NFTs onchain

The Coinbase Ventures blog

What we’re watching around the cryptoeconomy.

blog

October 24, 2024

Demystifying the Crypto x AI Stack

The future of AI can be built on blockchain technology, as crypto can help increase accessibility, transparency, and use cases within the emerging tech. The convergence of crypto’s efficiency, borderless nature, and programmability with AI has the potential to transform how humans and machines interact with the digital economy, including by enabling users to have sovereignty over their personal data. This includes the rise of the “Agentic Web,” where AI agents operating on crypto infrastructure can drive economic activity and growth.

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July 16, 2024

ELI5 – L3s

While L2s’ lower gas fees / increased throughput have enabled them to become the hub of onchain activity & account for a sizable portion of the ETH-based economy, they may be constrained by pressure to maintain decentralization & alignment with ETH L1. Builders that want to [1] experiment and customize their apps, and [2] align with an L2 for distribution, are now opting to build L3s – which are application-chains that settle to an underlying L2. This document is focused on building a shared understanding of L3s.

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May 14, 2024

Understanding the EigenLayer AVS Landscape

EigenLayer* is a protocol built on Ethereum that introduces restaking, a new primitive in crypto-economic security that has emerged as a leading narrative within the Ethereum community. Restaking via EigenLayer enables developers to leverage Ethereum's existing economic security infrastructure (i.e., validator set and staked ETH) to bootstrap new Actively Validated Services (AVS). Compared to how traditional cloud platforms and SaaS solutions were transformative to web2 development, we believe the emergence of EigenLayer and its burgeoning ecosystem of AVSs unlocks a "verifiable cloud" paradigm for web3. As restaking and shared security models evolve, their impact on blockchain ecosystems will become increasingly evident, driven by growing demand from stakers and developers seeking to unlock new opportunities onchain.

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March 5, 2024

State of Wallets - Part 2: Smart Accounts

"Smart Accounts" (or “Smart Wallets”) – which we define as smart contract wallets (SCW) with “Account Abstraction” features – have become a top-of-mind conversation among crypto developers. Account Abstraction (“AA”) launched in the EVM ecosystem in Q1-2023 and is beginning to see an uptick in adoption. This document explains the value proposition, adoption inflection, and implications for the broader ecosystem.

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February 26, 2024

State of Wallets - Part 1: Wallet Technologies

The two most important technologies created in crypto/web3 are the concept of blockspace and cryptographic keys/wallets. Wallet technologies have now expanded beyond self-custodial wallets, and we believe within the next 5 years wallets will change dramatically – marking crypto’s “iPhone” moment. In this part, we will cover the various wallet technologies. In the future parts, we will cover related trends like how data and identifiers will be attached to wallets.

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January 29, 2024

State of Bridging

Bridges have emerged as core infrastructure for protocols, service providers, and users in accessing crypto use-cases. This report is meant to capture the current state of the bridging landscape, the future trends in bridging, and the implications for the broader crypto ecosystem.

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