VC Roundup: NFTs, crypto mortgages, 5G network and Web3 devs raise millions
The cryptocurrency market has failed to make significant headway in recent months, but that hasn’t stopped the industry’s builders from building. Nonfungible tokens (NFTs), crypto mortgages, blockchain-powered cellular networks and Web3 gaming have all piqued the interest of venture capitalists. These new and familiar investment themes headline the latest edition of VC Roundup, as venture funds continue to target blockchain’s most promising value plays.
Andreessen Horowitz’s foray into the blockchain industry continued this month after a large segment of its investing team backed a new nonfungible token fund called Curated. The fund, which is worth $30 million, has the singular purpose of buying and holding NFT artwork. Among the a16z brass, Marc Andreessen, Arianna Simpson, Chris Dixon, Andrew Chen and John Lai are all investors in the fund, according to Tech Crunch. NFTs and traditional art are increasingly being viewed as stores of value in an inflationary environment. (Interestingly, a16z has been talking about NFTs since at least 2020, which is eons ago in the crypto industry.)
How are crypto marketplaces and NFTs changing the game for creators? Listen to our Q&As with artists @muratpak and @sigggnasty for an intro to the token-based creator economy: https://t.co/Lj42leSkfa
Related: You don’t need to be angry about NFTs
Crypto-focused fintech startup Milo has raised $17 million in Series A funding from venture firms M13, QED Investors and MetaProp. Milo will use the funding to advance its suite of product offerings, which includes a 30-year crypto mortgage that allows users to put up digital assets as collateral for their home loans. Since launching in January, Milo’s 30-year mortgage has already received over 7,400
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