Yard Hub: Discover the Venture Studio Specializing in All Things Web3
Despite the recent pullback in the crypto markets, the Web3 industry still looks to be in good shape. According to Fortune magazine, VC investment in Web3 is anticipated to hit another all-time high this year, after exceeding $18 billion in the first half of 2022.
From DOAs and NFTs to DeFi and play-to-earn (P2E) games, investors are clearly remaining bullish about the long-term prospects of the Web3 ecosystem. It’s no surprise then to see innovation in these sectors occurring at a breakneck pace.
However, since the industry is still in its infancy, many start-ups and Web3 founders are finding it difficult to navigate the complex and often fragmented ecosystem. As a result, brilliant ideas may never see the light of day due to a lack of funding or the right team to execute them. This is where YARD Hub comes in.
Meet YARD Hub
YARD Hub is a Dubai-based venture studio that specializes in all things Web3. The studio’s aim is to help founders and teams increase their chances of successfully turning ideas into ventures by offering a proven framework to navigate the industry.
This is facilitated by YARD Hub’s highly experienced team, which has a deep understanding of the Web3 industry and can offer expert advice on everything from fundraising to product development while eliminating many of the mistakes that founders make during the early stages of a startup.
The team also handles the burden of back office processes, such as HR, compliance, and legal obligations, so that the founders can focus on what they do best: building great products.
“Venture studios will cater to the growth and quality of the Web3 industry, which is still young and lacks experienced founders and well-tested frameworks. Venture studios help tackle the problems that any startup experiences and Web3 is no exception here,” said Yaroslav Shakula, CEO of YARD Hub.
Complimenting the VC model
While many people see venture studios to be in direct competition with VC (venture capital), that is simply not the case. In reality, both models can (and do) complement each other very well.
“(Venture studios) are fully dedicated to systematically creating new ventures from scratch. As such, venture studios most definitely won’t replace VCs as they have evolved to complement the VC model and strengthen it rather than disrupt or replace,” explained Shakula.
“For VCs, venture studios are a source of high-quality projects they can invest in,” he added.
Start-up ventures to date
The team behind YARD Hub began investing in Web3 start-ups back in 2020 and decided to launch the studio after seeing first-hand the challenges and opportunities that come with building in this space. Establishing a studio has enabled the team to make the process more organized, sustainable, and scalable, which is more conducive to long-term success.
To date, the studio has raised over $2.5 million, which has been used to fund its operations and provide seed funding to the projects, several of which have been brought out of “stealth mode” and into the public eye. These projects include:
DeepMine – A unique play-to-earn social economy strategy in the expanding Sci-Fi metaverse based on WAX blockchain with multichain support in development. Its sophisticated and well-balanced economic system creates an immersive experience and sustainable long-term ROI. (Winner of the AIBC GameFi Project of the Year 2022 and has over $3 million total trade volume).
Petobots – NFT collectible multichain GameFi project with social features, allowing players both to cooperate and compete with each other. Petobots is part of expanding Sci-Fi metaverse, centered around the DeepMine game.
CryptoAlma – A gamified learning platform that offers Web3 companies a new way to onboard verified users, giving them a more engaging and rewarding way to learn more about their product through a more entertaining and learn-to-earn approach.
BeNFT – NFT-based business solution builder for entrepreneurs looking for new opportunities to launch innovative technology products. BENFT offers ready-made turnkey business scenarios with no need for technical knowledge and the self-adjustment of processes.
CarBar – A platform that provides rights to rent luxury cars in Dubai as NFTs [built on the BeNFT platform].
“Our global focus is Web3 and when we add new projects to our portfolio, we make sure they are aligned in a sense that they all are mutually beneficial. This is the way they contribute to the YARD Hub ecosystem.
“Projects within a Hub can be clients to each other: for example, when we launch a new game, we can test it via one of our other projects providing users’ feedback,” said Shakula.
Navigating the bear market
It’s safe to say the markets haven’t been kind to YARD Hub or the wider crypto industry over the past few months. Despite this, Shakula and his team remain positive and are continuing to invest in new projects while focusing on creating value rather than pursuing growth.
“Instead of pushing startups to grow, we’re focusing on building high-quality products, testing hypotheses, and validating ideas. Also, we’re developing customer relationships and making connections. I would say we’re getting our portfolio companies ready for the new crypto spring whenever it comes,” explained Shakula.
With a strong focus on Web3 and a solid portfolio of projects already under its belt, YARD Hub is well positioned to capitalize on the growth of this nascent industry.
While the current bear market might be putting pressure on the studio, Shakula and his team remain positive about the future and are confident they will be able to weather the storm and create even more successful projects in the months and years to come.
“In the Web3 industry the potential is massive, the opportunities are limitless, and in fact, I believe we’re on the verge of the whole new world: the world of creativity, of blockchain-driven business, of more credible relationships,” said Shakula.