a16z Leads VeeFriends’ $50 Million Seed Funding Round

Gary Vee’s flagship Web3 endeavour, his very own VeeFriends NFT project, has raised $50 million in a recent seed funding round which was led by Andreessen Horowitz (a16z). The new injection of funds will primarily be used to support the development of the IP of the project’s 283 VeeFriends characters, however in addition, the money will also be used to scale VeeFriends’ creative, technical, and experimental operations. 

For now, it remains undisclosed as to whether or not there were any other participants in the round, or whether a16z were the sole contributors. In speaking on the round, Chris Lyons, a general partner at a16z, had this to say:

“Not only is Vee Friends an exciting NFT project, it also provides offline and in-person utility through curated experiences like VeeCon, which brought over 7,000 NFT ticket holders together for a week of informative conversations on web3, live music, and networking. VeeFriends represents the ethos of entrepreneurship, and we’re humbled by the opportunity to support Gary and the VeeFriends community on this journey”.

In supporting the project through its financial prowess, a16z joins a long list of illustrious names who’ve also put pen to paper with the NFT project. Overall, VeeFriends has released more than 10 collaborations, with one the most notable being the release of a VeeFriends-branded UNO Deck in partnership with Mattel Creations.

The collection has amassed over 200,000 ETH in primary and secondary sales in its relatively short lifetime, which has subsequently put it in OpenSea’s top 30 most traded collections.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post a16z Leads VeeFriends’ $50 Million Seed Funding Round appeared first on NFT Plazas.

Related Posts

Over 1.2 Billion aUSD Minted in an Exploit of Polkadot’s DeFi Hub Acala

Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The exploit allowed the hacker to mint more than…

Brazilian Crypto Investment Platform Bluebenx Stops Withdrawals Under Hack Allegations

Bluebenx, a Brazil-based cryptocurrency investment platform, suspended withdrawals last week due to an alleged hack that made the company lose more than $31 million. The company announced…

Aave Responds to Blocking Addresses Over Tornado Cash Clampdown

DeFi lending protocol Aave Protocol said the TRM API on its app was responsible for blocking addresses that received ETH from unknown sources through Tornado Cash. In…

Ripple Price Analysis: After 2 Months of Sideways, Will XRP Finally Breakout?

A strong resistance level has trapped Ripple for over two months, resulting in the price flirting between $0.3 to $0.39 during that period. It seems that the…

Wayru’s Decentralized Internet Network Goes Live

Web3 Telecommunications Startup Wayru has finally launched its decentralized internet network and Genesis hardware devices. This will usher in a new era of connectivity where anyone can…

NFT Adoption in Africa: What is the Current Reality?

Africa, the world’s second largest continent, with a population of over 1.6 billion, is still developing when it comes to technology adoption. In most cases, people in…

Generated by Feedzy