A16z invests $50 million in VeeFriends

Published on:

Last Updated on July 30, 2022 by Bitfinsider

VeeFriends, the NFT company founded by entrepreneur Gary Vee, recently raised $50 million in a seed round led by leading American venture capital firm Andreessen Horowitz (a16). The funds will be used by the NFT company to expand the VeeFriends universe through its creative, technical, and experiential operations. The plan is to expand the 283 VeeFriends characters’ future intellectual property to reach different multimedia platforms, including new physical and digital spaces. Furthermore, the funds will be used to recruit new employees from the entertainment and Web3 industries.

Chris Lyons, the President of Web3 at a16z crypto, has described the VeeFriends project as a blueprint that guides its Web3 efforts by building a strong community and supporting it with valuable and unique intellectual property. A16z is one of the main VC firms driving the Web3 movement, and its seed round investment in the VeeFriends project is noteworthy.

Despite the bear market of 2022, VC funding for crypto and web3 projects has remained strong. Indeed, according to Pitchbook data analysts, VC funding for crypto firms reached $17.5 billion in just the first half of 2022. As a result, experts predict that by the end of the year, it will have surpassed the $26.9 billion in VC funding recorded in 2021. A16z, in particular, recently broke records for the largest ever VC crypto fund, raising a whopping $4.5 billion for its fourth fund. In May, the investment firm announced that $1.5 billion of this fund would be set aside for seed investments in Web3. VeeFriends is one of the first recipients of the $50 million a16z fund.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked.

To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor


Are you new to investing and would like to find out more about investments and cryptocurrency? If you know nothing about a topic and want to become an expert on it, one fool proof way to start is to read good books about the topic.

If you read one book about a topic, you will be able to share knowledge or discuss the topic at an elementary level with almost everyone.

Read three books and you will likely know more than the majority of people and will be able to discuss the topic at an intermediate to expert level.

  1. The Intelligent Investor by Benjamin Graham
  2. Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs and More by Ian Balina
  3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.

Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related