Two entrepreneurs from the blockchain sector have launched a new cryptocurrency fund to support innovative Web 3.0 companies. send a strong signal that venture capital is looking to the next builders of the decentralized internet.
On Friday, Kevin Chou and Mahesh vellanki demonstrated SuperLayer, a cryptocurrency startup studio that creates web 3 projects directly on the rally network, a crypto-social platform that enables creators and artists to introduce their own digital currency. The venture capital firm will start projects internally before hiring product managers to develop the company.
Certain SuperLayer received support from major investors such as Marc Andreessen, including the venture capital company Andreessen Horowitz, Chris Dixon, Paris Hilton, Nas, Michael Ovitz, Carter Reum. Initially, SuperLayer will provide $ 25 million in initial investment and will continue to raise funds continuously.
Kevin Chou appeared in Cointelegraph’s Top 100 2020 in the Adoption category. Before founding Rally with colleague Mahesh Vellanki in 2018, Chou ran Kabam, an esports games company that sold for $ 1 billion in 2017.
Andreesen Horowitz, by Marc Andreessen, was behind some of the largest funding rounds for cryptocurrencies. As Cointelegraph reported, Alchemy blockchain platform recently completed a $ 250 million Series C investment round led by a Silicon Valley venture capital firm. Earlier this year, the company launched the largest cryptocurrency venture fund in history, valued at $ 2.2 billion.
As we have already told you Andreesen’s crypto fund recently hired two prominent Facebook engineers to join the company as CTO and CIO. For its part, Facebook changed its name to Meta, which reflects its ambitions beyond social media and towards Web 3 and augmented reality experiences.