$40M investment for DeKnow protocol

San Francisco-based investment fund Andreessen Horowitz (a16z) recently led a $40 million investment into Golden, a decentralized knowledge company that complies with and streamlines open source data and allows community access. This is the venture capital firm’s first foray into the space after focusing on centralized and decentralized finance companies. Other investors participating in the […]

The post Andreessen Horowitz leads $40M funding for DeKnow protocol appeared first on CoinSwitch.

Total funding fund based in San FranciscoAndreessen Horowitz (a16z) recently led a $40 million funding into Golden, a decentralized expertise organization that complies with and streamlines open supply records and permits network access.

After specializing in centralized and decentralized finance companies, this is the assignment capital firms’ first foray into the gap.Protocol Labs, OpenSea Ventures (the NFT marketplace’s assignment fund), Harpoon Ventures, Vela Partners, and the founders of Solana, Twitch, Dropbox, and Postmates are among the other investors in the round.

The Golden protocols testnet noticed participation from over 35,000 users. Golden’s goal is to create a database for the creation and verification of expertise in an open source and visible web3 manner. 

A16z is at the leading edge of making an investment in the crypto space.

The VC fund, based on Marc Andreessen and Ben Horowitz, has already raised over $7 billion across 4 budgets to spend money on crypto and blockchain-centered corporations. The $40 million in funding is a part of this fund.

a16z has been plowing investments into the crypto area since the onset of the undergo marketplace. Arianna Simpson, a widespread associate at a16z, stated the organization desires to take advantage of this marketplace to focus on long-term projects. Simpson stated, “Bear markets are frequently when the nice possibilities come about, whilst human beings are really capable of cognizance on constructing generations instead of getting distracted through short-time period charge activity.”

Several pinnacle corporations within the crypto enterprise are funded through a16z, including—OpenSea, Yuga Labs, Solana, Avalanche, Dapper Labs, and CoinSwitch.

Despite the downturn within the marketplace, VC investments into crypto corporations have held up, in keeping with an audit by KPMG. In the first half of 2022, VCs invested over $14 billion in crypto corporations across 725 deals. This is sort of neck-and-neck with crypto investments made within the first half of 2021. However, the auditing organization expects the VC budget to go with the drift to chill off within the 2nd half of 2022 given the lackluster crypto prices.

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