In a bold move that could reshape the crypto landscape, Xavier Meegan, former Chief Investment Officer (CIO) of Chorus One, has launched a $20 million crypto-native pre-seed fund called Frachtis. This exciting development targets consumer applications built on existing blockchain infrastructure, signaling a strategic shift in crypto investment focus.
Why This Crypto Fund Matters Now
The launch of Frachtis comes at a pivotal moment in blockchain development. Meegan’s vision challenges the current trend of creating new Layer-1 and Layer-2 solutions, instead focusing on leveraging existing blockchain infrastructure. This approach could:
- Reduce fragmentation in the crypto ecosystem
- Accelerate adoption of consumer-facing applications
- Maximize the value of current blockchain networks
Chorus One Legacy Meets New Blockchain Vision
Meegan’s experience as CIO of Chorus One, a prominent blockchain infrastructure company, brings credibility to this new venture. His fund will specifically target:
| Focus Area | Description |
|---|---|
| Consumer Apps | User-friendly applications for mass adoption |
| Infrastructure Utilization | Building on existing blockchain networks |
| Pre-seed Stage | Early support for promising projects |
The Future of Blockchain Infrastructure Investment
Meegan’s strategy reflects a growing recognition that blockchain’s next phase requires practical applications rather than more base-layer protocols. This $20M crypto fund could catalyze:
- Innovation in consumer-facing crypto products
- Better utilization of current blockchain capacity
- More efficient capital allocation in the crypto space
FAQs About the Frachtis Crypto Fund
Q: What makes Frachtis different from other crypto funds?
A: It focuses exclusively on consumer apps built on existing blockchain infrastructure rather than new protocols.
Q: How much capital does Frachtis have to invest?
A: The fund has $20 million in capital for pre-seed investments.
Q: What was Xavier Meegan’s role at Chorus One?
A: He served as Chief Investment Officer (CIO) before launching this new venture.
Q: What types of projects will Frachtis prioritize?
A: Consumer-facing applications that demonstrate practical utility on existing blockchains.
