CJ - Cryptocurrency Enthusiast
The Silicon Valley Corporation invested in its fourth cryptocurrency fund, the biggest single crypto fund ever purchased, despite the market turbulence surrounding cryptocurrencies. having raised a total of more than $7.6 billion. In a blog post, A16z expressed their belief that Web 3 is approaching a "golden moment," with sufficiently developed programmable blockchains and a wide range of apps reaching tens of millions of users.
With such a large influx of talent and brilliant entrepreneurs joining Web 3, the business saw the size of the potential and decided to spend $3 billion in venture capital and $1.5 billion in seed capital.
In response to the bear market, Arianna Simpson and Chris Dixon, the firm's general partners, feel that many firms are established during periods of market volatility because it helps investors and companies to focus on the long term rather than be distracted by short-term changes.
During a conversation, "The technical diligence and other types of diligence that we perform are a vital component of ensuring that projects reach our criteria," Simpson said. She also stated that, despite the fast pace of crypto market investment, the business continues to invest solely in the top tier of founders.
Considering this, Simpson and Dixon think that cryptocurrency presents a long-term potential on the scale of the subsequent computer cycle, which comes after the PC revolution in the 1980s, the internet revolution in the 1990s, and mobile computing in the early 2000s.
Andressen's first crypto-focused fund, which included a substantial cryptocurrency investment with Coinbase, was created four years ago. Since then, the business has funded several crypto and NFT start-ups, particularly during the "crypto winter" in the city. Andreesen has collected $600 million for its first gaming fund, with the objective of boosting investment in gaming applications, studios, and infrastructure to enable the building of a virtual world known as the metaverse, as reported last week.
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