Billionaire co-founder of crypto enterprise capital agency A16z Marc Andreessen could also be leaving the board of administrators of Meta on account of his agency’s investments within the Web3 area.

Enterprise Insider reported on Mar. 25 {that a} supply accustomed to the state of affairs stated “it might not shock me even remotely” if Andreessen exited the board within the subsequent few months. Andreessen may depart as quickly as Might when the board has its subsequent re-election.

Andreessen has not made a public assertion relating to his future with the Meta board.

Meta has begun to build or acquire several Web3 projects associated to the Metaverse, NFTs, social networking, finance, and leisure, which implies a16z’s crypto empire may create a battle of pursuits. On Mar. 18, Meta utilized to patent consumer identification software program mostly utilized in {hardware} and e-wallets much like Metamask or Ledger.

a16z in the meantime is the main VC agency within the cryptocurrency area. It helped lead the latest funding spherical in BAYC creator Yuga Labs and launched a $30 million fund on Mar. 11 to support nonfungible token (NFT) artwork tasks. The $450 million funding spherical in Yuga Labs marks one of many largest NFT mission seed rounds ever.

A16z’s different earlier or lively investments within the crypto area embrace decentralized trade Uniswap, centralized trade Coinbase, NFT market OpenSea, DeFi protocol Maker, and decentralized lending platform Compound.

A16z raised $2.2 billion for its third crypto fund in the course of final 12 months and intends to boost $4.5 billion for its subsequent fund within the coming months, making it the biggest such enterprise up to now.

A spokesperson for a16z denied the rumors, telling Enterprise Insider:

“If he have been to step down, he doesn’t learn about it. So no, it’s not taking place. Not less than not now.”

Andreessen has been on the previous Fb board since 2008, longer than another present non-Meta staff member. Early Fb investor Peter Thiel will step down in Might for quite a few causes together with his crypto investments in Block.one (the blockchain options agency behind EOS) and crypto buying and selling platform BitPanda.

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