The Golden Web3 data-transfer protocol team closed a Series B round of $40 million. It was led by Andreessen Horowitz (a16z).
Investments were also provided by Protocol Labs and its founder Juan Benet, Solana cofounder Raj Goyal, the former Dropbox cofounder and ex-CTO Arash Ferdowsi, Dylan Field, CEO of Figma, Postmates founder Bastian Lemann and others.
The funding will be used to build a decentralized protocol in which tokens serve as rewards for providing and verifying information. Its incorrect nature foresees sanctions against network participants. Organizations that use the data and pay for it provide direct feedback.
“The world lacks a standardized interface for discovering, disseminating and verifying information. To scale its creation, it requires not only data but also incentives for input, verification and governance,” — said Jude Gomila, founder and CEO of Golden.
The developers have launched the Golden testnet. The mainnet is expected in the second quarter of 2023.
Earlier in May, Andreessen Horowitz$4.5 billion into a new cryptocurrency fund.
The fund was the fourth in a16z. In total, the firm has raised more than $7.6 billion for these purposes — $2.2 billion in the third fund and $965 million in the first two.
In April, Andreessen Horowitz opened a division for research in cryptocurrencies and other Web3 technologies. Later, the company’s experts stated that the industry is in the middle of the fourth cycle of the “price–innovation” curve.
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