What we published, when.
Research and theses published by the Lyrik team between 2023 and 2024, kept as a record of our thinking at the time. Each piece reflects the views of its authors at the date of publication, not the firm’s current investment thesis.
Lyrik: Open Web AI Investment Thesis
In the evolving technological sector, the emerging intersection of Web3 and Artificial Intelligence (AI) is drawing considerable investment attention for…
The Living On-chain Thesis
As crypto-currencies and digital tokens mature, mainstream financial institutions and corporations continue to familiarize themselves with this next era…
From Cities to Ecosystem-Societies: A Framework for Evaluating L1 Ecosystems
The ‘Ecosystem Society’ thesis, refers to an analytic framework helpful in making sense of blockchain ecosystems, and the social, financial, and…
GPT as the Next Major Platform: From Apps to AI Agents
OpenAI unveiled some exciting plans this week at their first DevDay, but what most caught my attention was the advent of GPT as a platform for third party…
The “Living On-Chain” Introduction
As the Internet of Value has grown to over 400 million holders of digital assets globally, a new era of using and interacting with blockchains is…
Lyrik DeFi Thesis
At Lyrik, we look at DeFi differently. We have spent years in the industry and have seen what has worked and failed. We have seen DeFi ecosystems formed…
Is the web3 wallet space still winnable?
The vast majority of web3 wallets today are Externally Owned Accounts (EOA) - addresses on the blockchain which are controlled by private keys owned by…
Investment Themes in Web3 Games
Even though we’re still early in the cycle of web3 games (remember that mobile free-to-play took at least 10 years to go from inception to…
Backed the rails before they had a name; now we invest in what runs on them. Where the thinking went: Fund II →