How Anatoly Yakovenko’s crypto startup Solana Labs is building what investors think will be a core layer of Web3

April 12, 2022
Foundation Capital

The whole block is flooded in purple lights as the warm Miami breeze fans the palm trees. It’s a little after 10:30 p.m. in Wynwood, an artsy neighborhood known for its murals. Small groups of people pass under a big purple archway, and then through a stringent security check. On one of the street light poles outside, there’s a purple flag with “Solana Miami” on one side, and “vibe. mint. build.” on the other.

Inside a big white tent, the room is filled with 20-something-year-old men with shaggy hair, developers dressed in shorts, and women in sandals. In the corner of the tent, a couple of people are vaping ironically near a sign reading “no smoking, no vaping,” while a DJ blares music that drowns out most of the conversations.