In the meantime, Noah Citron, an engineer at a16z, shared a snapshot on Twitter with an orange circle emblem, one of many funding fund’s traits.
Whereas the Twitter thread makes no point out of the brand new product, its actions have prompted many individuals to recall Coinbase’s previous ways. Coinbase and plenty of different initiatives tweeted with a blue dot image in February 2023, pointing to the debut of layer 2 named Base.
coming quickly 🟠 pic.twitter.com/8kADUuervL
— ncitron.eth (@NoahCitron) April 18, 2023
Andreessen Horowitz has a cryptocurrency department and sometimes invests in cryptocurrency corporations. This, along with the orange circle resembling Coinbase’s advertising and marketing scheme, implying that the corporate’s upcoming product will most certainly be blockchain-related.
However, the similarities to Coinbase finish there. Coinbase created the Base community on prime of the present layer 2 community Optimism, elevating the chance that a16z could do the identical.
Nonetheless, a16z Crypto’s CTO, Eddy Lazzarin, mentioned on Twitter that the longer term product shouldn’t be an L2. It’s extremely probably that a16z is not going to pursue the path of layer 2 improvement.
🟠🪄 ✨
(not an L2)
— Eddy Lazzarin 🟠🔭 (@eddylazzarin) April 18, 2023
As well as, Andreessen Horowitz and Paradigm co-led a $150 million funding spherical for Optimism in March 2022, elevating the layer-2 answer’s price to $1.65 billion.
Andreessen Horowitz’s funding fund has raised $7.6 billion as of October 2022 to spend money on crypto and Web3.
Andreessen Horowitz, generally generally known as a16z, is a enterprise capital fund created in 2009 in america by Marc Andreessen and Ben Horowitz. This behemoth has invested in a number of well-known corporations, together with Fb, Airbnb, Coinbase, and Github… Andreessen Horowitz, a famend funding agency in Silicon Valley, is thought to be a pioneer in growing modern investing methods for know-how entrepreneurs.
DISCLAIMER: The Info on this web site is supplied as basic market commentary and doesn’t represent funding recommendation. We encourage you to do your personal analysis earlier than investing.
