Andreessen Horowitz’s a16z has introduced the launch of a brand new cryptocurrency research unit. The new division will deal with fixing the challenges associated to the Web3 sector. The research unit will comprise a number of the nice skills within the crypto house.
a16z’s deal with the crypto house
a16z is a crypto-focused enterprise capital agency created by Andreessen Horowitz. The agency has been lively within the cryptocurrency house for a number of years. A latest weblog publish revealed the agency’s new deal with making a crypto research group that may clear up points associated to the web3 sector.
In the announcement, the agency stated that the crypto research unit can be a “multidisciplinary lab” that may work on fixing vital challenges that hinder the development of science and know-how to create the subsequent technology of the web.
The enterprise capital agency has proven a robust deal with web3, which can unlock innovation. The group added that web3 can “uncover fresh research challenges that are fundamental to how this technological movement will play out.”
Tim Roughgarden, a professor at Columbia University, can be spearheaded the brand new crypto research unit. The professor would be the head of the crypto research unit at a16z, and Andreessen Horowitz added that he was an ideal match for the position as a result of he was a “brilliant researcher, communicator, and educator who could also assemble and lead a world-class team.”
The Senior Research Advisor for this crypto research unit can be Dan Boneh. Boneh is a famend cryptographer, and he’ll help the research unit in conducting its goals by way of a excessive degree of experience in crypto and Web3.
Andreessen Horowitz’s dedication to crypto
Andreessen Horowitz has proven nice dedication to the cryptocurrency sector. The enterprise capital agency secured $9 billion funding to help its cryptocurrency and technological endeavours a couple of months again. Out of this quantity, $1.5 billion went in direction of the Bio fund. $5 billion was directed in direction of the Growth Fund, whereas $2.5 billion went to the Venture Fund.
The firm issued an announcement saying, “we will continue to invest across the entire spectrum of stages, writing checks as small as $25,000 and up to hundreds of millions of dollars.”
The co-founder of this enterprise capital agency, Marc Andreessen, is an enormous supporter of Bitcoin. In 2021, the investor stated that Bitcoin was an enormous innovation within the know-how sector.
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