The English word “Paradigm” means “a typical example or pattern.” The most common usage is in the phrase “Paradigm Shift” , which refers to a fundamental change in the basic concepts and practices of a scientific discipline. It is a concept in the philosophy of science introduced by American physicist and philosopher Thomas Kuhn and incorporated into the general lexicon. While Kuhn initially limited the use of this term to the natural sciences, the concept of paradigm shift is also used in many non-scientific contexts to describe profound changes in fundamental models or perceptions of events.
In the cryptocurrency/web3 field, Paradigm is a well-known name. One prominent example is their deep investment in the leading decentralized exchange (DEX) project, Uniswap. As early as 2019, when Uniswap was relatively unknown in the DeFi space, Paradigm invested $1.82 million as an angel investor and mentor. This investment is believed to have yielded returns of several billion dollars during the peak of the bull market in 2021.
In the NFT space, Paradigm made a significant investment of $11 million in the early stages of the NFT-focused trading platform Blur, around March 2022. With their support and involvement, Blur emerged in early 2023, challenging the dominance of the leading NFT marketplace, Opensea, and disrupting the bear market.
Their investment in Uniswap is a source of pride for Paradigm. Noah, the lead developer of Uniswap v3, once tweeted, “Dan is a core contributor to the mechanism design of Uniswap v3. It would not have been possible without him.” However, their investment in Blur could be seen as a betrayal of Opensea, the frontrunner that received significant investment from a16z. While it may not be explicitly stated, the conflicting interests are apparent. Their investment in FTX, which eventually faced significant losses and an exit scam, caused Paradigm to lose face and suffer losses of up to $278 million.
Just recently, Paradigm quietly modified their website’s bold slogans and manifestos. Previously, it read: “Paradigm backs disruptive crypto/Web3 companies and protocols with as little as $1M and as much as $100M+.” The revised version now states: “Paradigm is a research-driven technology investment firm.” They have also removed the strong expressions related to cryptocurrencies and Web3, such as “We believe cryptocurrencies will define the next few decades.”
It is rumored that Paradigm couldn’t withstand the loneliness of the cryptocurrency bear market and couldn’t resist the temptation of artificial intelligence. They are reportedly preparing to enter the field of AI.
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