a16z Leads VeeFriends’ $50 Million Seed Funding Round
Source: Nftplazas / Rory
Gary Vee’s flagship Web3 endeavour, his very own VeeFriends NFT project, has raised $50 million in a recent seed funding round which was led by Andreessen Horowitz (a16z). The new injection of funds will primarily be used to support the development of the IP of the project’s 283 VeeFriends characters, however in addition, the money will also be used to scale VeeFriends’ creative, technical, and experimental operations.
For now, it remains undisclosed as to whether or not there were any other participants in the round, or whether a16z were the sole contributors. In speaking on the round, Chris Lyons, a general partner at a16z, had this to say:
“Not only is Vee Friends an exciting NFT project, it also provides offline and in-person utility through curated experiences like VeeCon, which brought over 7,000 NFT ticket holders together for a week of informative conversations on web3, live music, and networking. VeeFriends represents the ethos of entrepreneurship, and we’re humbled by the opportunity to support Gary and the VeeFriends community on this journey”.
In supporting the project through its financial prowess, a16z joins a long list of illustrious names who’ve also put pen to paper with the NFT project. Overall, VeeFriends has released more than 10 collaborations, with one the most notable being the release of a VeeFriends-branded UNO Deck in partnership with Mattel Creations.
The collection has amassed over 200,000 ETH in primary and secondary sales in its relatively short lifetime, which has subsequently put it in OpenSea’s top 30 most traded collections.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.