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Crypto art collector PleasrDAO is raising $69 million

PleasrDAO, a collective of crypto luminaries, is seeking an investment of $69 million. A slide from the group’s fundraising deck, obtained by The Block, shows that it plans to add $69 million – categorized as an investment — to its treasury by February 2022. Two people briefed on the raise said PleasrDAO is aiming for a valuation of roughly $1 billion. A spokesperson for PleasrDAO declined to comment.  The group — a decentralized autonomous organization or DAO — was formed …

Former Coinbase VP of comms to take crypto CMO role at a16z

Kim Milosevich, who until December served as Coinbase’s vice president of communications, is rejoining Andreessen Horowitz (a16z) as chief marketing officer for crypto. Milosevich announced the move in a Thursday Twitter thread, writing that she will “be working with [general partner Chris Dixon] and team to help build out the future of web3.”  The hiring news signals a return to a16z for Milosevich, who, per her LinkedIn, played a role in launching a16z’s crypto investing efforts during her stint as …

Andreessen Horowitz plans to raise $4.5 billion for new crypto funds

Andreessen Horowitz (also known as a16z) is planning to raise up to $4.5 billion for two new crypto funds, according to a report by the Financial Times. Last week, the Silicon Valley venture capital firm reportedly told investors that it will raise $3.5 billion for its venture fund, while another $1 billion will be raised for its seed investments in the web3 space, with plans set to be confirmed in March. The Block has contacted a16z for comment but did …

Mythical Games acquires 3D gaming platform Polystream

Quick Take Polystream allows users to stream real-time 3D content and engage with content without downloading it.  The acquisition of Polystream brings the total number of Mythical employees to over 200. Play-to-earn gaming company Mythical Games has acquired interactive streaming platform Polystream. Polystream allows users to stream real-time 3D content and engage with it without downloading it. The idea is that this approach would enable players on more devices to instantly enjoy the game without needing any additional updates when …

NEAR raises $150 million as it looks to become a hub of web3 development

The NEAR Foundation has closed a $150 million funding round less as it looks to become the hub of an open web3. Three-Arrows Capital led the token sale with participation from Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda and Circle Ventures, among others.  The NEAR Foundation launched in 2020 after a $21 million token sale and help from backers including a16z and Pantera Capital. The non-profit platform oversees the development and governance of the proof-of-stake NEAR blockchain.  On Jan. 1 …

Haun’s new venture fund lining up investors to raise approximate $900 million

Prosecutor turned crypto venture capitalist Katie Haun is looking to raise nearly $900 million for a new venture firm.  Haun, who joined a16z as a partner for its crypto investing unit in 2018, left the firm at the end of last year, as reported by Axios at the time. Now, Haun’s new firm —dubbed KRH— is in the process of raising the money across different venture funds, according to sources familiar with the investment firm’s plans.  Haun has secured a16z …

Crypto VC heavyweight a16z unveils principles for crypto regulation

Crypto-focused venture capital firm Andreessen Horowitz has put out its vision for the future of crypto regulation. It’s the latest in a flurry of such proposals from industry players. Also known as a16z, Andreessen Horowitz today released its “10 Principles for World leaders Shaping the Future of Web3,” a brief document that aims to ground ongoing international policy debates around crypto. The principles themselves are not especially bombastic. They emphasize the need “to harmonize standards and regulatory frameworks” among nations …

Katie Haun to depart a16z, form new fund focused on crypto and Web3: report

Katie Haun, a general partner at Andreessen Horowitz, is departing the firm to found a new fund dedicated to crypto and Web3 startups, according to Axios. Haun joined the venture capital giant in mid-2018 and went on to spearhead some of its most notable crypto investments, including crypto exchange Coinbase. She has also served as co-chair of a16z’s $2 billion-plus crypto fund. Haun previously served at the Department of Justice between 2006 and 2017, last serving as an Assistant U.S. …

A16z invests $36 million in a startup created by four ex-Meta engineers

Investment firm Andreessen Horowitz (a16z) announced Monday that it invested in Mysten Labs, a blockchain and Web3 development company co-founded by four ex-Meta employees. CNBC first reported the investment figure to be $36 million.  The CEO of Mysten Labs is Evan Cheng, former director of research and development (R&D) at Novi — a digital wallet project formed out of the tech company Meta (previously known as Facebook). Joining Cheng at Mysten Labs is Sam Blackshear, former Novi engineer, as CTO; Adeniyi …