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Art by Clark Miller.

Crypto VCs Revert to What’s Safe: Blockchain’s Building Blocks

Photo: Art by Clark Miller.

Mention the term “blockchain infrastructure” at a party and you’re likely to meet blank looks. Unless, that is, you’re hanging out with a group of crypto venture capitalists.

As investors have pulled back from high-profile crypto names, unnerved by the collapse of firms like FTX, the appeal of crypto infrastructure, or software that helps power the back end of blockchains, has never been stronger.

Investors are gravitating more than ever to infrastructure firms, seeing them as a safer play. Among the beneficiaries are startups such as Caldera, which have raised money from investors like  Sequoia, and Sovereign Labs, whose backers include Haun Ventures. Caldera’s software helps companies build their own customized blockchain, while Sovereign Labs makes it easier for developers to make their own networks. Both address a lingering issue in crypto: how to reduce blockchain transaction costs.

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