Two blockchain entrepreneurs have launched a brand new cryptocurrency fund designed to bootstrap promising Net 3 startups, sending a robust sign that enterprise capital is eyeing the following builders of the decentralized web.
On Friday, Kevin Chou and Mahesh Vellanki unveiled SuperLayer, a crypto enterprise studio constructing Net 3 initiatives immediately on the Rally community, a crypto-social platform that lets creators and artists launch their very own digital currencies. The enterprise studio will launch initiatives in-house earlier than recruiting product managers to additional develop the enterprise.
Notably, SuperLayer has acquired backing from big-name buyers, together with Marc Andreessen of enterprise capital agency Andreessen Horowitz, Chris Dixon, Paris Hilton, Nas, Michael Ovitz, Carter Reum and others. Initially, SuperLayer will deploy $25 million in seed investments and can proceed to boost funds on an ongoing foundation.
Kevin Chou was featured in The Cointelegraph High 100 for 2020 within the class of adoption. Previous to co-founding Rally with colleague Mahesh Vellanki in 2018, Chou was on the helm of Kabam, an e-sports gaming firm that bought for $1 billion in 2017.
Crypto platform Rally commits $12M to third-party builders
Marc Andreessen’s Andreesen Horowitz has been behind among the largest crypto funding rounds. As Cointelegraph reported, blockchain platform Alchemy not too long ago concluded a $250 million Sequence C funding spherical that was led by the Silicon Valley enterprise agency. Earlier this 12 months, the agency launched the biggest-ever crypto enterprise fund valued at $2.2 billion.
As Cointelegraph reported, Andreesen’s crypto fund not too long ago recruited two outstanding engineers from Fb to hitch the agency as chief expertise officer and chief data safety officer, respectively. Fb, in the meantime, has rebranded to Meta, reflecting its broadening ambitions past social media and into Net 3 and augmented actuality experiences.