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new crypto startupsWired
•85% Informative
Silicon Valley venture capital firm Andreessen Horowitz , also known as a16z, launched a lecture series for would-be crypto founders five years ago .
Rebranded as the Crypto Startup Accelerator ( CSX ), the course has since become a fully-fledged, Y Combinator style affair.
Participants receive $ 500,000 in funding, 10 weeks of tuition, and access to its resources.
VCs threw tens of billions of dollars at crypto startups in 2021 and 2022 , but their attention has since been drawn elsewhere.
In the first half of 2022 , the value of a16z’s original crypto fund reportedly fell by 40 percent , though investors are still on track for a tenfold return.
CSX is to inject “rocket fuel” into early-stage crypto startups capable of proving the technology is useful for more than money laundering and financial speculation.
a16z has added nine new crypto startups to a stable that already includes the likes of crypto exchange Coinbase and NFT marketplace OpenSea .
The startups in the program are making software that falls into three buckets: apps for consumers, services for businesses, and technical plumbing on which other crypto software depends.
VR Score
86
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