Charles Hoskinson: "Instead of investing in Cardano, VCs are ready to lose money in Terra and FTX"

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Cardano founder Charles Hoskinson is disappointed that most venture capital companies are not ready to invest in projects based on this blockchain.

Recently, Paul Manuel, COO of Pavia Metaverse, tweeted that venture capitalists are reluctant to invest in Pavia because the projectPatrick Tobler, founder of NMKR, a Web3 infrastructure based on Cardano, confirmed Manuel's statement.According to Tobler, he received a letter from a venture capitalist stating that he would notinvest in any Cardano-related project.

"Over the past few months, I've had several conversations with venture capital firms.When we mentioned that our project is running on the Cardano blockchain, they shuddered and said, "No, thank you.We make risky investments, but we can't intentionally take risks,'" Manuel tweeted.

Charles Hoskinson reacted to these comments, writing with irony that risk-taking entrepreneurs are more likely to investtheir capital in collapsed cryptocurrency projects such as Terra and the FTX exchange.After the collapse of the Terra ecosystem in May, Hoskinson wondered why venture capitalists hate it so muchHe mentioned Galaxy Digital CEO Michael Novogratz, who got a tattoo based on the LUNA cryptocurrency.

In an interview at the Mainnet 2022 Cardano event, Hoskinson suggested that it is only possible to generate interest from venture capital firms if several Cardano-based decentralized applications areThis can be counted on in 2023-2024, Hoskinson said.

In October, the head of Cardano expressed dissatisfaction that Coindesk had never included him in the list of the most influential people in the cryptocurrency space.