In Episode 39 of Chain Reactions, we’re joined by Fabrizio, co-founder of Legion, to explore one of the most misunderstood truths in crypto: capital formation is the killer application for blockchain.

We go deep on the broken incentives in today’s launchpad meta, how Legion is flipping the script with reputation-based fundraising, and why public token sales can, and should, outperform traditional IPOs. Fab also shares his personal story, from growing up on food stamps to working with Rolls Royce to becoming one of the most respected operators in web3 fundraising.

We also dig into:

• How Legion is building a two-sided marketplace for reputation and allocation
• What founders get wrong when preparing for a TGE
• Why attention markets, not airdrops, are the real unlock
• What it means to grow beyond CT and take on IPO-scale distribution
• And what’s coming next in Legion 2.0 (hint: it’s big)

This one’s packed with insight for founders, investors, builders, and anyone who thinks crypto should aim higher.

Timestamps

00:00 – Intro and Fabrizio’s background: from geoscience to crypto

06:00 – Falling in love with DeFi Summer

08:00 – The broken incentives in launchpads and token listings

11:30 – Why Legion was founded and what it solves in capital formation

15:00 – What is Legion and how the reputation score works

20:00 – Regulatory tailwinds and the bet on MiCA and Project Crypto

24:00 – Vetting process for Legion deals and what curation looks like

28:00 – Business model and why Legion only wins if the project wins

30:30 – Cookie3, attention markets, and fronting capital as commitment

34:00 – Deep dive into Legion Score and future roadmap

40:00 – Projects launched: Pulse, Almanac, and beyond

42:30 – Legion’s vision to take on IPO-level scale

45:00 – Community, storytelling, and the future of tokenized fundraising

48:00 – Moving beyond CT through partnership marketing

49:00 – Rapid fire: underrated and overrated tactics, top projects, and lessons

52:00 – Fab’s biggest founder learning and advice to others building in Web3

57:00 – Founders reflect: Blake and Polina’s takeaways

58:30 – What’s next for Legion and key dates to watch