Marriages as Marriage Does

Wedding season is here and M31 Capital makes its first acquisition! Welcome 3.0 Capital

Jun 29, 2023

The Old Ball & Blockchain

Just a quick newsletter this month, as I’ve been busy with a few things… namely getting married and completing M31 Capital’s first acquisition! More on that below.

So, I’m half-assing this one but wanted to share a recent thought that will come as a surprise to, I’m sure, no one: Weddings are IRL Blockchains

Two parties (bride & groom) broadcast a message (vows) to all the nodes in their network (family & friends) who view and validate the transaction (…sorry, marriage).

Tie the knot, chain the blocks: tomato, tomato.

In the Bitcoin blockchain, nodes from all walks of life and every corner of the Earth individually verify each transaction and thereby collectively come to high-certainty agreement on the state of the ledger. This makes it extremely difficulty to roll back the chain and reverse a transaction. Weddings emerged as a social institution with a similar concept: increase the difficulty of “rolling back the chain” by getting enough individuals to collectively verify the union.

In other words, a marriage gains social recognition once a sufficient amount of a society comes to consensus on that update to the state of the social ledger. Just as a Bitcoin transaction only gets added to a block once enough nodes in the network agree the transaction is valid.

So if Bob says he’s married to Alice, but everyone in town (including Alice) says, “ew, gross - no way", then the social ledger shows bob_married = ‘false’. If Bob says he’s married to Alice, and everyone in town says, “Yeah Bob, we know. We were there, it was lovely. You can shut up about it now", then the social ledger shows bob_married = ‘true’.

Bitcoin nodes keep the system honest, maintaining ledger stability, and wedding nodes do the same. They keep the bride and groom honest, holding them to their commitments to each other, maintaining social stability.

For that, I’m grateful to all the nodes in my network.

Speaking of Mergers…

M31 Capital completed its first-ever acquisition this month! We successfully tied the knot with 3.0 Capital, a highly regarded DeFi-focused fund, with an experienced team and exceptional track record.

This marriage represents a major milestone for us and brings together two powerful funds with a common vision for empowering the industry while delivering outstanding returns. This strategic move also comes with the onboarding of Will Hood, a DeFi expert, as Portfolio Manager for the fund!

Acquisition Highlights:

DeFi Thesis: 3.0 Capital's DeFi philosophy and investment strategy aligns seamlessly with M31 Capital’s
Strong Team: The team is extremely experienced with deep domain knowledge, and PM Will Hood has a unique ability to navigate the complexities of DeFi
Shared Resources: With combined resources and expanded team, we have the bandwidth to make more investments and take on additional capital (reach out to discuss!)
Track Record: 3.0 Capital has an exceptional track record, outperforming virtually every fund in the industry

We are incredibly excited about this acquisition and the opportunities it opens up. Please join me in welcoming Will & 3.0 Capital into the M31 family!