Cryptocurrency investment firm Multicoin Capital has announced that it has set up a third venture fund worth $430 million.

The firm plans to use the structure to support projects that have the potential to “change mass consumer markets.”

The company plans to focus the new fund on investments in solutions that “encourage people to do verifiable work that builds real infrastructure.”

As examples of such projects, Multicoin Capital cited the Helium decentralized wireless network and the Hivemapper blockchain mapping service.

Second, it encourages users to provide vehicle recorders for creating navigation maps. The Solana blockchain-based app raised $18 million in a Multicoin-led round in April.

Another aspect of investing new funds in the company was called DataDAO. These are decentralized objects that also use the concept of “proof of work” but focus primarily on data.

Multicoin believes there is a lot of fragmented data that could be “more valuable than the sum of the parts” if combined. However, consolidation is not possible for privacy reasons or because “aggregators are not subject to user control”.

The investment firm believes that these problems can be solved with the help of cryptocurrencies, which can provide strong incentives.

As another direction for the new fund’s investments, the company is considering content monetization projects through online platforms using digital currencies, NFTs and social tokens.

Recall that in 2021 Multicoin launched Venture Fund II with $100 million in assets.

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