RCIF II - Five bullet Friday - Issue # 33

  All of you should have received the fund statements for the month of August. In the month of August, RCIF II grew by 27.56% (before fees). Based on the value of our portfolio currently, we are up by 35-40% already so far in the month of September. Let us keep our fingers crossed to see how the market performs in the second half of this month.

1. This week I have added a new position to our portfolio called, KlimaDAO. It is a decentralized autonomous organization, that is focused towards reducing global CO2 emissions. This is modeled after OlympusDAO and is a fork of OlympusDAO. We were involved in the OlympusDAO (OHM) token from day one of the project and turned out to be very profitable, as you can see from our retained earnings sheet that we generated $28 Million income from it. Blockchains have enabled global coordination amongst many individuals to replace our current petro-dollar with a currency that is backed by carbon credits.

2. You could imagine KlimaDAO as a protocol that incentivizes the absorption of  CO2 offsets from public markets to use them as collateral in Web3 and DeFi applications.If you like to get a high level overview, please read Klima Manifesto. OHM's treasury is backed by DAI. In the case of KlimaDAO it is backed by carbon credits. Many large companies have pledged to acquire carbon credits in order to offset their carbon footprint from manufacturing and business operations.

3. KlimaDAO did a fund-raising via the Balancer platform. They raised $17.53 million in 3 days and issued 114,000 tokens. We are acquiring the protocol at a market valuation of $17.53 million. We acquired 1199 AKLIMA tokens at a price around $230. If this project is successful, it could be valued in hundreds of billions of dollars. We will be able to stake our KLIMA tokens similar to OHM and receive staking rewards. This is not listed on any exchange yet.

4. This week I watched the movie, 'Ready Player One', which is available on Amazon Prime. I recommend all of you to watch this movie, if you want to understand how the metaverse could evolve and how intertwined it is to our lives. This movie showed a dystopian reality and a vibrant metaverse. We made two large bets that are focused on the growth of metaverse and NFT markets. One is YGG and the second is AGLD (Adventure Gold).  

5. I continued to add to our Loot (Adventure) bags last week. The creator of Loot is a game designer called Dom. All of his previous projects were very successful. What is unique about Loot is that the creator provided a blank canvas for any game developer, musician, nft creators to use these on-chain NFTs anyway they please. This is unleashing creativity at an exponential pace. See all the new Loot derivative projects that are getting launched.

Recently when I travelled with Ravi Avadhanam to the AKMG Doctor's conference in Atlanta. Our presentation was covered in Asia TV and broadcasted in India. You can see our video clip here. Our video starts at 5:09.

Have a wonderful weekend!

Sam Ikkurty