TLDR:
a16z-backed projects have sold tokens and NFTs to the public, contradicting claims made by general partner Chris Dixon. In a recent podcast appearance, Dixon stated that a16z does not allow its portfolio companies to sell tokens to the public, but a review of their investments shows otherwise.
Key points:
- a16z-backed projects, including DFINITY, Fei, and Sky Mavis, have sold crypto tokens or digital assets to the public.
- Several a16z-backed companies have also sold NFTs publicly, such as VeeFriends, PROOF, and Yuga Labs.
- a16z is a prominent venture capital firm that has been an early investor in the crypto space, including backing Coinbase in 2013.
a16z-backed projects have sold tokens and NFTs to the public, contrary to claims made by general partner Chris Dixon. During an appearance on the New York Times podcast Hard Fork, Dixon defended his firm’s investment strategy and stated that a16z does not allow its portfolio companies to sell tokens to the public. However, a review of a16z’s investments reveals that this claim does not hold up to scrutiny.
Several companies and projects backed by a16z have sold crypto tokens or digital assets to the public. DFINITY, the company behind internet computer tokens (ICP), distributed tokens to individuals who made “donations” to the DFINITY foundation, contradicting Dixon’s assertion. Fei, an algorithmic stablecoin protocol, also challenges Dixon’s claim. Fei sold both the FEI token and the TRIBE governance in its Genesis Event, which was later found to be an unregistered securities sale by a court settlement. Another a16z-backed project, Sky Mavis, the developer behind the game Axie Infinity, sold tokens to the public through Binance Launchpad, directly contradicting Dixon’s claim.
Additions include mentioning that several companies in which a16z has invested have publicly sold NFTs. Notable examples include VeeFriends, a platform used by entrepreneur Gary Vee to sell his NFTs, and PROOF, the company behind the PROOF Collective, which auctioned NFTs to the public. Yuga Labs, the firm behind Bored Apes, has also engaged in the public sale of NFTs.
a16z is a private venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. The firm has been an early investor in the crypto space and has backed a wide array of projects and companies. Its investments include infrastructure projects like Ethereum, financial services platforms, NFT marketplaces, and DeFi protocols.
