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CoinDesk
CoinDesk
Ali Yahya, Andreessen Horowitz: 'Many Fair Weather VCs Have Pivoted'
3 months ago
Binance News
Binance News
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According to Blockworks, venture capital firm Andreessen Horowitz has released its 'big ideas' list for 2024, with a focus on crypto, artificial intelligence (AI), gaming, and digital security. The list, which includes insights from the firm's crypto arm, a16z crypto, shows a shift from last year's emphasis on 'zero knowledge' technology. General partner Ali Yahya and a group of contributors discussed the potential for crypto to democratize AI innovation. They argued that decentralized markets could allow anyone to contribute and be compensated for working on AI models, moving the training of these powerful tools beyond the control of a few tech giants. Investing partner Carra Wu also wrote about AI, suggesting that the rise of AI-generated video games will create a need for guarantees that game models are uncorrupted and neutral. Wu believes that crypto can offer such guarantees. General partner Ariana Simpson discussed the evolution of 'play to earn' games into 'play-and-earn' experiences, where users can play crypto-enabled games without financialization overshadowing the gameplay. In terms of security, chief technology officer Eddy Lazzarin highlighted the potential for cryptographically-generated 'passkeys' to make website and app sign-ins more secure. Research engineering partner Daniel Reynaud added that crypto projects are making formal verification, the use of mathematical models to check a program's security, more accessible for smart contract developers. General counsel Miles Jennings referenced his recent essay on how Machiavellian principles can improve decentralized autonomous organizations (DAOs). Andreessen Horowitz has invested in several crypto projects, including Yuga Labs, Solana, and Uniswap. However, the firm's enthusiasm for crypto investing appears to have waned this year, with its thirty largest crypto-related fundraises all occurring before 2023, according to funding aggregator CryptoRank.

3 months ago
CoinDesk
CoinDesk
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Venture capital giant Andreessen Horowitz (a16z) led a $5 million seed round into Setter, a consumer app that allows brands to explore Web3-powered commerce. The app by New York-based Setter plans to help brands innovate how they promote exclusive products and provide customers with limited edition drops, the firm said in an emailed announcement on Tuesday. Setter aims to address "the complexity and unfriendliness of current wallet technologies," making entry into Web3 a more seamless experience for more users, according to the announcement. "It looks and feels like a Web2 app, but it is a full-blown smart contract wallet under the hood," CEO Juan Hernandez told CoinDesk in an interview. Web2 refers to the existing, centralized Web-based technology. "We're trying to make it really seamless, where the Web2 and Web3 objects are just sitting right next to each other ... whether you're just paying with traditional Web2 rails or whether you need to convert into crypto from a credit card." Setter's initial focus is on developing partnerships with streetwear and sneaker brands with the aim of expanding across fashion, luxury items and consumer collectibles. The seed round was also backed by Marcy Ventures Partners, Superlayer, Thirty Five Ventures and retired tennis great Serena Williams. Read More: Ali Yahya, Andreessen Horowitz: 'Many Fair Weather VCs Have Pivoted'

3 months ago

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