Venture capitalist Chris Burniske says that one ecosystem in digital assets could be the one to watch in the near future.
In a new interview with Real Vision founder Raoul Pal, Burniske, a partner at venture capital firm Placeholder, says he has his eye on the Move ecosystem.
Move is a programming language originally built by a consortium backed by tech giant Meta for the now-defunct Diem project. It was then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).
Says Burniske,
“I think it’s worth paying attention to – even though it’s very small at this point – the Move ecosystem so things like Movement, Aptos, Sui…
People are not really talking about that ecosystem right now in a way that I find interesting, because I always like to go where people aren’t talking about something much. It’s an uncrowded wave that might get very good.
When you look at the birth of Move and Sui and Aptos, it came out of Meta. That’s a big deal. People don’t realize how much time and work and money went in from the Meta side to make something for normies, that got pulled in the last week before launch… And then spread out to the broader ecosystem.
Crypto people so hate the incumbents that they’ll be like ‘Ugh, Meta and Facebook.’
But normies will be like ‘Wait, Meta built a lot of this core tech?’ And a normie developer might find that more credible than the whole rest of crypto.
And with things like ZK log-in or some of the innovations that are happening there, we might get to a world where we’re spawning wallets – and they’ll be lower security wallets probably, just like we have a wallet versus a bank account versus a safety deposit box and different gradations of security – but we might be spawning low-security high use wallets off of our Gmail, or our phone number, or whatever people choose and those types of integrations are coming, too.
And so we’re 16 years in from the launch of Bitcoin, we’re just finally getting to a place where we’ve abstracted everything enough to the place where normies can probably just continue to exist in the environment they’re comfortable in, with crypto being used in the background to give them experiences they want. “
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