Kala, who is predicated in Miami, believed on this thesis so strongly that she doubled down on it, launching an early-stage Web3 fund referred to as, effectively, “Double Down.” (A nod, in fact, to blackjack.) In late 2022, Kala raised $30 million for the fund (whose backers embrace blue-chippers together with Chris Dixon and Marc Andreessen), and he or she now focuses on Web3 initiatives that affect shopper tradition. “My overarching thesis has at all times been concerning the why and the way individuals spend their time, cash, and a spotlight,” says Kala. Folks more and more spend their money and time on-line. Web3 (in idea) lets them do it higher and with extra possession.