2 years ago
a16z’ wide spouse Chris Dixon focuses connected the entrepreneurial and developers’ activity, not connected the prices.
Andreessen Horowitz (a16z), a hedge money that manages astir $28 cardinal USD, has go 1 of the large victims of the crypto marketplace situation that broke retired past spring. Despite the downturn, the institution said it remains faithful to “the crypto-centric imaginativeness of the net called Web3.”
In his commentaries to Wall Street Journal’s review of a16z's crypto involvement, published connected Oct. 26, Chris Dixon — a wide spouse of the money and a main determination shaper connected crypto investments — pledged his volition to proceed investing successful the marketplace contempt the losses.
Dixon said helium believes determination is “a precise semipermanent horizon” for crypto, arsenic the assemblage inactive stays successful the aboriginal stages of acquiring users. In his opinion, the market’s downturn is an accidental for the money to proceed backing crypto entrepreneurs:
“What I look astatine is not prices. I look astatine the entrepreneur and developer activity. That’s the halfway metric.”Nevertheless, a16z has corrected its bullish strategy connected crypto assets aft its main crypto fund, launched successful 2018, mislaid astir 40% of its worth successful the archetypal fractional of 2022. In Q3 2022, it announced lone 9 deals with crypto startups, compared to 26 announcements successful Q4 2021.
The hedge money inactive remains a ample beneficiary of the crypto market’s affirmative leaps successful caller years — it saw astir 10x gains from backing the speech Coinbase successful 2013, and a 100x summation successful worth of the nonfungible token marketplace OpenSea, which it backed successful 2021.
Related: a16z proposes a acceptable of licenses particularly for NFTs, based connected Creative Commons model
On Oct.3, a16z provided $40 cardinal successful funding to the decentralized cognition protocol Golden, with the fund’s wide spouse Ali Yahya and cofounder Marc Andreessen joining Golden’s committee of directors.
According to information from Cointelegraph Research, successful August 2022 the blockchain manufacture saw $1.36 cardinal of task superior invested successful the blockchain manufacture — a 12-month low and the 4th consecutive month-on-month diminution successful superior inflows.
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