Investing at the Edge of Crypto Innovation, with Ani Pai (Dragonfly)

Kony Kwong is the CEO and Co-Founder of GAIB AI, a pioneering platform transforming physical GPUs into a new yield-bearing asset class. As AI drives exponential demand for computational infrastructure, GAIB stands at the forefront of a new financial frontier — where AI and DeFi converge, to provide additional funding channels for cloud/data centers, while offering investors direct access to the explosive AI economy. With a background spanning quantitative trading, machine learning engineering at top-tier firms, and early bets on the AI + blockchain convergence, Kony brings a sharp operator-investor lens to one of the fastest-moving sectors in tech. In this episode, Kony unpacks WAGMI Ventures’ thesis on why AI agents are the killer app for crypto in 2025 and beyond, how GAIB is transforming physical GPUs into a new yield-bearing asset class, designing autonomous onchain agents that actually own assets, trade, and compound value, and the unique model of simultaneously building and investing behind its own convictions. He dives deep into the technical and economic breakthroughs needed for truly agentic crypto systems, the massive alpha in AI economies, and how GAIB is positioning itself as building the first economic layer for AI compute, bringing new investment possibilities into this surging sector.

Jin Kwon is the Co-Founder and Chief Strategy Officer of Saga, a Layer-1 protocol pioneering the future of chainlets and infinitely scalable, parallelized blockchain infrastructure for gaming and high-throughput consumer applications. With deep roots in both traditional venture capital and the cutting edge of Web3, Jin brings a rare blend of strategic insight and hands-on building experience to the rapidly evolving world of decentralized entertainment. Jin dives into Saga’s bold vision of bringing a million chains to life, the economics and incentives behind developer adoption, the critical importance of seamless user experience in mass-market Web3 gaming, and how Saga is positioning itself as the ultimate infrastructure layer for the next generation of onchain worlds. He also shares his perspective on where capital is flowing in the current cycle, why gaming remains the killer use case for blockchain, AI and Saga, and stablecoins.

Francis Berewa is Head of Investments and Growth at zkPass, (https://zkpass.org/), a private data oracle using zero-knowledge and multi-party computation to enables users to selectively and privately validate their data. Backed by Binance Labs, dao5, Animoca Brands, WAGMI Ventures, and others, zkPass empowers decentralized identity verification, on-chain compliance, and seamless data portability across ecosystems. Francis shares his journey from co-founding Homebloc—a blockchain platform for real estate investments—to venture roles, and finally landing at zkPass to drive growth. He discusses zkPass's milestones, powering ZKKYC for identity proofs without document uploads, and partnerships with zkSync, LayerZero, and Galxe to secure millions of private data verifications. Francis dives into the protocol's role in bridging Web2 and Web3 through anti-cheating mechanisms and hybrid ZK proofs, enhancing developer tools for on-chain privacy, and his vision for a decentralized future where users control their digital personas amid rising data regulations and AI-driven threats.

Stephen Hess is Director of the Metaplex Foundation (https://www.metaplex.com), the decentralized steward of the Metaplex protocol on Solana, empowering creators with no-code tools for NFTs, digital assets, and programmable on-chain experiences. Stephen shares his journey from product leadership at Solana Labs and roles at Omada Health to becoming CEO of Metaplex Studios and Director of the Foundation, a key player in Solana's ecosystem backed by Multicoin Capital, Jump Crypto, and a $46 million token sale. He discusses Metaplex’s growth milestones, including pioneering the Solana NFT standard in 2021, introducing compressed NFTs and the Core asset protocol, facilitating billions in trading volume across independent marketplaces, and the July 2025 launch of Genesis—a groundbreaking audited smart contract framework for fair token launches. Genesis prevents front-running and enhances trust with features like configurable launch pools, sealed-bid auctions, fixed-price presales, and on-chain airdrops with vesting, integrated with Solana DEXs for seamless liquidity. Stephen dives into the protocol’s evolution toward a fully decentralized digital asset economy, addressing community debates on governance, protocol fees, and immutability, while sharing his vision for a creator-centric Web3 where programmable NFTs, Solana’s speed, and innovations like Genesis enable equitable ownership and dynamic applications in gaming, music, and beyond.

Justin Waldron is the Founder of Open Game Protocol, (https://www.opengameprotocol.com), a trailblazer in creating innovative gaming platforms that bridge social, mobile, and Web3 ecosystems. With a robust background in game development and entrepreneurship, Justin shares his journey from co-founding Zynga—redefining social gaming with iconic titles that captivated millions—to launching Playco, a platform focused on instant, accessible gaming experiences, and now spearheading the Open Game Protocol, a groundbreaking decentralized framework for the future of gaming. He emphasizes the importance of user-centric design in gaming, the modular and scalable architecture of the Open Game Protocol, and its role as a leading framework for developing decentralized, player-driven gaming experiences, empowering developers to create with unparalleled freedom and ease. 

David Phelps is the Co-Founder of JokeRace (https://jokerace.io), a dynamic, decentralized platform designed to foster community-driven competitions and incentivize innovation within Web3 ecosystems. With a robust background in technology and entrepreneurship, David shares his journey into the decentralized space, from his early contributions in tech to co-founding JokerRace, where he focuses on building an engaging and inclusive Web3 environment. He emphasizes the importance of community-centric infrastructure, the flexible design of JokerRace’s platform, and its critical role in empowering developers and creators to drive innovation through competitive and collaborative frameworks.

Grigore Rosu is the Founder & CEO of Pi Squared, (https://pi2.network/), a groundbreaking Web3 infrastructure company revolutionizing verifiable computing with its Universal Settlement Layer. As a distinguished professor at the University of Illinois Urbana-Champaign and founder of the K framework and Runtime Verification, Grigore brings unparalleled expertise in formal methods and blockchain innovation. He dives into his journey from NASA to Web3, the philosophy behind Pi Squared’s “Proof of Proof” technology, and the mission to unify fragmented blockchain ecosystems with language-agnostic, zero-knowledge solutions. He dives into his seasoned perspective on unifying the fragmented Web3 space, the art and science behind building trustless, scalable systems, and the nuances of leveraging zero-knowledge proofs for universal computation.

Oliver Shen is the Co-Founder of GATA AI (https://gata.xyz), a pioneering decentralized AI infrastructure platform transforming the trillion-dollar AI economy with tools like GataGPT, DataAgent, and decentralized model inference. Backed by YZiLabs, Gate Ventures, IDG Blockchain, and others, GATA is breaking data and compute monopolies to empower community-driven AI innovation. In this episode, Oliver shares his journey from conceptualizing Aggregata to launching GATA, overcoming challenges in decentralized data curation, and building a privacy-first, on-chain ecosystem where users retain data ownership. He discusses Gata’s innovative product matrix, including GataGPT’s intelligent interaction layer and DataAgent’s decentralized validation, alongside strategic partnerships like Mind Network for enhanced privacy via Fully Homomorphic Encryption. Oliver also highlights GATA AI's roadmap, positioning GATA AI as a leader in scalable, censorship-resistant AI infrastructure.

Ammar Zaeem is the CEO & Co-Founder of Revolving Games (https://revolvinggames.com), a leading innovator in blockchain gaming, building immersive, decentralized gaming experiences powered by Web3 technology. Backed by top-tier investors like Pantera Capital, Animoca Brands, and Polygon Ventures, Revolving Games is redefining the gaming industry with scalable, player-owned ecosystems. In this episode, Ammar shares his journey from traditional gaming to pioneering Web3 game development, overcoming challenges in blockchain scalability, and creating engaging, community-driven gaming universes. He discusses Revolving Games’ innovative approach to integrating NFTs and decentralized economies, their robust tech stack, and strategic partnerships that empower players with true ownership and interoperability. Ammar also highlights Revolving Games’ latest milestones, positioning the studio as a trailblazer in the future of decentralized gaming.

Josh Benaron is the Founder & CEO of Irys (https://irys.xyz), the world’s first programmable Layer-1 datachain designed to integrate low-cost, scalable storage with high-performance, EVM-compatible execution via IrysVM. Backed by Lemniscap, Framework Ventures, and Primitive Ventures, Irys is revolutionizing onchain data infrastructure for AI, IP, and consumer applications. In this episode, Josh shares his journey from building Bundlr Network to launching Irys, overcoming challenges in transaction scalability on Arweave, and creating a network where data is not just stored but programmable—embedded with instructions to automate AI workflows, enforce ownership, and trigger smart contracts. He discusses Irys’s innovative multi-ledger system, hybrid consensus model, and strategic partnerships, which enable composable utilities and cost-efficient data solutions. Josh also highlights Irys’s testnet achievements, positioning Irys as the future of trust and scalability in decentralized ecosystems.