According to the people who made me buy Tera Luna coin from binance or Coinbase, the owner of Luna Cryptocurrency started with a plan to revive the coin
The plunge in cryptocurrency prices and the collapse of the stablecoin Terra dollar (LUNA) have not deterred venture capital investors who still see the sector as a highly promising investment.
In the most recent example of that insistence, Andreessen Horowitz said Wednesday that it has established a $4.5 billion cryptocurrency fund, the largest in the sector to date.
The company allocates $3 billion for venture capital investments, and $1.5 billion for seed investments.
The fund is Andreessen Horowitz's fourth dedicated crypto investment vehicle, bringing its total investment focused on digital assets to $7.6 billion.
The collapse of the cryptocurrency "Luna"
The company has backed some of the biggest names in the blockchain space, including crypto exchange Coinbase Global, non-fungible token market OpenSea, and Dapper Labs, Inc. developer of the NBA Top Shot token market, and Sky Mavis, the developer of the non-fungible token game Axie Infinity.
With this fund, Andreessen Horowitz has gone beyond previous initiatives that raised funds last year and launched by companies "with their assets in the crypto sector" and have been a prominent advocate for the sector, which believes it better understands the intricacies of blockchain and token governance compared to With traditional companies entering the sector to diversify their investments.
This cohort includes Haun Ventures, founded by Katie Haun, former general partner of Andreessen Horowitz, which has raised $1.5 billion in crypto investments.
Cipher pigment
Andreessen Horowitz has taken some steps to make it more crypto-authentic, such as launching a research arm of many crypto-experts to help wallet companies, and outsourcing voting stakes to organizations like student clubs to mitigate their influence.
These measures, and the new fund, may not be enough to convince critics that Andreessen Horowitz is honestly embracing the best interests of the crypto industry.
Despite its investment in startups that now form some of the industry's most important pillars, Andreessen Horowitz's influence in cryptocurrency and venture capital has proven controversial.
The company has redoubled its efforts to build Web3, which refers to a decentralized version of the Internet owned by users rather than tech giants.
Some of Andreessen Horowitz's investments include the purchase of a large amount of crypto tokens linked to significant voting power over how blockchain projects are run. However, these investments have raised doubts about whether Web3 is a decentralized network, as its proponents claim.
That tension came to a head when Block CEO Jack Dorsey sparred with Andreessen Horowitz's Mark Andreessen and Chris Dixon, tweeting in December, "You don't own Web3." He added, "Capital Funds." The adventurer and the people who are pumping capital into it are the ones who own the network, and you will never escape their incentives.”
The fight resulted in a "Block" button on Twitter by Andreessen and a stinging criticism of Dixon, who tweeted in reference to Gandhi's quote: "First they ignore you, then they laugh at you, then they fight you, then you win."