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- A16z raised $20 million for CreatorDAO on Tuesday 9th, August.
According to a press release CreatorDAO, a decentrally autonomous organization that provides funds and operational support to Creators, raised $ 20 million in a basis funding or first round funding that Andreessen Horowitz and Initialized Capital led.
The release states, “CreatorDao are investing in Creators for a particular ratio in their future earnings.” The DAO organization structure allows investment decision from crowdfunded and the contribution to the DAO such as mentorship and collaboration to be rewarded.”
Celebrity Paris Hilton and globally popular music band The Chainsmokers took part in the funding round and consented to share their time and expertise with the CreatorDAO community.
Paris Hilton praised CreatorDao and quoted that “I love to use my platform with 11:11 Media to lift up other artists, and this is a way to do it on a much bigger scale.”
Andreessen Horowitz is a funding CreatorDAO with the help of its subsidiary, a16z crypto wing. This investing venture has actively participated and invested in massive companies like Yuga Labs and Metatheory.
Jonathan Ma (Joma Technology) mentioned, “Over $300B of venture capital dollars was invested in technology startups in 2021, less than $100M of investment dollars was invested in creators,” and “Creators today are businesses, but no one’s figured out how to help them realize their growth potential.”
ALSO READ – TRON DAO Reserve Brings Wintermute on-board as a Whitelisted Organization
According to news sources from The Coin Republic reports of June 4 2022, Canonical Crypto, A Venture Capital Firm, Has Raised $20 Million In Its First Round Of Funding Via a16z As Well As Other Investors.
And earlier in May 2022, The Coin Republic published that Adam Neumann, Co-Founder Of WeWork, Raised $70 Million In A Fundraising Round Headed By A16z.
A16z has worked for more than 20 companies and helped them establish them in the market by organizing a seed funding round for them and collecting funds for the companies.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
