We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed. That’s why today we’re pleased to announce a new $2.2 billion fund to continue investing in crypto networks and the founders and teams building in this space. This represents the beginning of an exciting new chapter for the a16z crypto team.
Binance’s non-fungible token (NFT) marketplace is set to launch Thursday with an auction featuring works by Andy Warhol and Salvador Dali.
Trading in the marketplace will commence at 10 a.m. local time in Singapore (02:00 UTC, or 10 p.m. ET Wednesday), Binance said.
The “Genesis” auction will be the marketplace’s first premium event – auctions for high-end work by select artists – and will feature Warhol’s “Three Self Portraits” and a digitized NFT of Dali’s “Divine Comedy: rebeget.”
“It’s still early. We are excited to see this connectivity happen. It will draw in a lot more capital into the asset class, and it will draw in the incremental user and adopter of this ecosystem and asset class,” he said.
And all of this matters because LMAX Group traded 75 billion in crypto in May with just 500 customers. Imagine if it had 5,000.
“On the platform, you will be able to access a range of opportunities whether it’s crypto yield funds or startups or real estate developments, you’re going to see a broader universe of primary offerings as well as secondary offerings,” Wagner said. “Looking forward, that’s the evolution you’re going to see and as more people become comfortable with crypto, it’s going to become the means for providing services that is taken for granted in public markets.”