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, after all, to blackjack.) In late 2022, Kala raised $30 million for the fund (whose backers embody blue-chippers together with Chris Dixon and Marc Andreessen), and she or he now focuses on Web3 initiatives that affect client tradition. “My overarching thesis has at all times been concerning the why and the way individuals spend their time, cash, and a focus,” says Kala. Individuals more and more spend their money and time on-line. Web3 (in idea) lets them do it higher and with extra possession.