a16z venture fund senior management, including Marc Andreessen, invested in a $30 million fund designed to buy up NFTs
Top managers of venture fund a16z have invested in a $30 million fund called Curated, which will buy non-fungible tokens (NFTs). About it writes TechCrunch with reference to the representatives of the fund Andrew Jiang and Todd Goldberg. In addition to Mark Andreessen, Chris Dixon, Reddit co-founder Alexis Ohanian and others also invested in the fund.
Investment of about half of the funds in unique NFTs
The fund reportedly plans to invest about half of the funds in unique NFTs, including popular projects such as CryptoPunks, Art Blocks and Bored Apes Yacht Club. The other half of the fund’s capital will go towards the purchase of “high potential collection” tokens. It remains unclear which collections are in question. According to Goldberg in an interview with TechCrunch, the fund views the NFT as an asset of great importance in the future of the next decade.
“We want to become a collector with a clear demonstration that we are buying the best assets and also helping developers,” he added.
Goldberg added that the foundation could even release its own NFT collection in collaboration with artists. However, the details of such initiatives are not yet known.
Recall that in early February, the media found out that the startup developer of the Bored Ape Yacht Club (BAYC) collection tokens, Yuga Labs, was in talks with the venture giant a16z to raise capital. The creators of BAYC intend to issue their own token for holders of thematic NFTs.
The terms of the deal are still unclear as the parties are in the process of discussing the details. Officially, neither Yuga Labs nor a16z commented on the investment news.