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International funding agency Andreessen Horowitz (a16z) has raised a $4.5-billion cryptocurrency fund. Roughly $1.5 billion shall be devoted to seed investments, and $3 billion to enterprise investments.
The funds shall be used to spend money on promising Web3 start-ups at each stage. The agency is worked up about developments in Web3 video games, decentralised finance (DeFi), decentralised social media, self-sovereign identification, layer one and layer two infrastructure, bridges, decentralised autonomous organisation (DAOs), and Non-fungible tokens (NFT) communities, amongst others.
“We predict we are actually getting into the golden period of Web3. Programmable blockchains are sufficiently superior, and a various vary of apps have reached tens of hundreds of thousands of customers,” mentioned Chris Dixon, common accomplice at a16z. An enormous wave of world-class expertise has entered Web3 over the past yr. They’re sensible and passionate and wish to construct a greater web, he added.
It’s a16z’s fourth crypto and blockchain fund, bringing the entire quantity raised for the asset class to $7.6 billion.
The agency has created crypto analysis, a brand new sort of multidisciplinary lab, which is able to work carefully with their portfolio and others in direction of fixing issues within the area, and towards advancing the science and know-how of the subsequent era of the Web.
Revealed on
Could 26, 2022
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