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- Another big blockchain financing round has been led by Andreessen Horowitz. Helium has raised a considerable amount of money this time to develop its decentralized 5G network
- According to Sam Bankman-Fried, the founder of Alameda Research, helium is a fantastic opportunity to bring 5G to the masses throughout the world and significantly improve their quality of life
- Andreessen’s investment in cryptocurrency firms adds to the growing narrative surrounding decentralized technologies and their potential to disrupt long-established industries
Another big blockchain financing round has been led by Andreessen Horowitz. Helium has raised a considerable amount of money this time to develop its decentralized 5G network. Helium Network, a decentralized wireless infrastructure provider, has completed a $111 million token sale spearheaded by some of the industry’s largest venture capital companies.
Several venture capital companies, including Andreessen Horowitz, bought into the sale, which focused on Helium’s native coin, HNT. According to BNN Bloomberg, Alameda Research, Multicoin Capital, and Ribbit Capital also contributed. According to Ali Yahya, a general partner at Andreessen Horowitz, emerging cryptocurrency protocols such as Helium will challenge centralized incumbents and compete with larger communications service providers.
Yahya said on Twitter on Tuesday that his company will collaborate with Helium to develop a future grassroots telecom network. Helium is a tremendous chance to bring 5G to the masses throughout the world and substantially enhance the quality of their lives, according to Sam Bankman-Fried, the founder of Alameda Research. Helium, created in 2013 by Shawn Fanning, Amir Haleem, and Sean Carey, is building the world’s first peer-to-peer wireless network using blockchain technology.
The aim of the firm is to develop wireless infrastructure for the Internet of Things, which is a new paradigm of linked objects. Helium has already grown across Europe since its introduction in North America.
The money will be used to continue constructing the company’s decentralized 5G network and to assist mobile network providers as they increase coverage. Andreessen Horowitz has been involved in some of the most significant crypto fundraising efforts.
The VC company launched a new innovation fund in June that will invest $2.2 billion in innovative blockchain and crypto projects. Andreessen’s involvement in crypto companies contributes to the increasing narrative around decentralized technologies and their potential to disrupt long-standing businesses.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
