Andreessen Horowitz’s $300m crypto fund, a16z, has made its first investment, buying 6% of MakerDAO's MKR token supply for $15m, paid over three years. Wyre has also partnered with MakerDAO. The fund is also backing a new blockchain startup called Blockstack, which aims to build an open source platform that will allow anyone with the right hardware and software skills to create their own cryptocurren@@ MKR helps dai maintain its peg with the US dollar. Adoption and regulatory support of dai were the main drivers of the purchase, according to a16z. Both the fund and Horowitz will offer MakerDAO sales, marketing and business development support.
Andreessen Horowitz’s $300m crypto fund, a16z, has made its first investment, buying 6% of MakerDAO's MKR token supply for $15m, paid over three years. The fund is also backing a new blockchain startup called Blockstack, which aims to build an open source platform that will allow anyone with the right hardware and software skills to create their own cryptocurren@@ MKR helps dai maintain its peg with the US dollar. Adoption and regulatory support of dai were the main drivers of the purchase, according to a16z. Both the fund and Horowitz will offer MakerDAO sales, marketing and business development support.