VeeFriends Announces Seed Investment by a16z Crypto Fund

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VeeFriends officially closed a seed round with an undisclosed investment by a16z, a crypto-focused VC fund conglomerate backed by Andreessen Horowitz.

The new funding will be used to explore IP (intellectual property) expansion in both digital and physical spaces. It will also be used for new hires.

"We are pleased to announce we received a seed investment into the company by a16z crypto, which invests in entrepreneurs building the next internet," VeeFriends wrote in its announcement. "VeeFriends will use the capital injection to support building the future intellectual property of the 283 VeeFriends characters."

VeeFriends is founded by famous tech entrepreneur and internet personality Gary Vaynerchuk, better known as Gary Vee. It has completed more than 55,000 ETH in total volume traded on its Series 1 release this year.

a16z has raised nearly $8 billion across its four funds. Its portfolio includes web2 companies like AirBNB, Lyft, Robinhood, Pinterest, and others. It also includes web3 and web3-friendly companies like Coinbase, Robolox, Uniswap, and now VeeFriends.

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