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 techniques. Coinbase and plenty of different tasks 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 almost definitely be blockchain-related.
However, the similarities to Coinbase finish there. Coinbase created the Base community on high of the prevailing layer 2 community Optimism, elevating the likelihood that a16z might do the identical.
Nevertheless, a16z Crypto’s CTO, Eddy Lazzarin, stated on Twitter that the long run product just isn’t an L2. It’s extremely doubtless that a16z is not going to pursue the course of layer 2 growth.
🟠🪄 ✨
(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 value to $1.65 billion.
Andreessen Horowitz’s funding fund has raised $7.6 billion as of October 2022 to put money into crypto and Web3.
Andreessen Horowitz, typically often called a16z, is a enterprise capital fund created in 2009 in the USA 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 strategies for expertise entrepreneurs.
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