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Piers Kicks
Founding Partner @Delphi_Ventures
Investing in the evolution of the web
Another one bites the dust.
Wild to see @TOKYOBEAST_EN shutting down so soon after an ostensibly successful launch...
Gaming is incredibly tough right now—the survival rate for onchain games gets lower by the day.

Immutable12.6.2025
TOKYO BEAST has had one of the craziest launches we've seen:
- No. 1 on the App Store in Japan
- 300k downloads and $1M revenue in 48 hours
- Thousands of gamers earning rewards every day
This is what happens when Japan's biggest mobile game studio launches a AAA title in web3.

3,65K
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StablecoinX Inc. @stablecoin_x has announced a $360 million capital raise to purchase $ENA and will seek to list its Class A common shares on the Nasdaq Global Market under the ticker symbol "USDE", which includes a $60 million contribution of ENA from the Ethena Foundation
Equity markets will now have direct access and exposure to the most important emerging trend in all of finance:
The growth of digital dollars and stablecoins.
To bootstrap its acquisition strategy, StablecoinX Inc. will use all of the $260 million cash proceeds from the raise (less amounts for certain expenses) to buy locked ENA from a subsidiary of the Ethena Foundation.
Starting today, the Ethena Foundation subsidiary (via third-party market makers) will use 100% of the $260 million cash proceeds from the token sale to strategically purchase $ENA across publicly traded venues over the coming weeks, further aligning the Foundation’s incentives with those of StableCoinX shareholders.
The planned deployment schedule is approximately $5m daily from today over the course of the next 6 weeks. At current prices $260m represents roughly 8% of circulating supply.
Importantly, the Ethena Foundation has the right to veto any sales of $ENA by StableCoinX at its sole discretion. Ideally, tokens will never be sold with a sole focus on accumulation.
To the extent StableCoinX subsequently raises capital with the intent of purchasing additional locked ENA from the Ethena Foundation or its affiliates, cash proceeds from those token sales are planned to be used to purchase spot $ENA.
StableCoinX's treasury strategy is a deliberate, multi‑year capital allocation strategy that will enables StableCoinX to capture the enormous value of the secular surge in demand for digital dollars while compounding ENA per share to the benefit of shareholders.
758,69K
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My inaugural @delphi_intel post is on Gen AI Video Models. Summary below (1/10)👇
s/o to @moonshot6666 for his feedback on this essay & @PJaccetturo for this dope hype video I will shamelessly steal.
TLDR: videos are 2-3 years behind text. They are getting very good, very fast
3,84K
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PewDiePie really is the GOAT of the original creators. Came on the scene, had his fun, secured his future, actually got married, had a beautiful family, reduced his screen time, moved to Japan, de-Googled his phones, started using Linux, and self-hosting. The best to ever do it.

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