Andreessen Horowitz Leads $20M Funding Round for CreatorDAO
Paris Hilton and musicians The Chainsmokers also invested in the project.
Aug 9, 2022 at 3:16 p.m. UTCUpdated May 11, 2023 at 4:16 p.m. UTC
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Paris Hilton was among the investors in CreatorDAO's latest funding round. (RB/Bauer-Griffin/GC Images)
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CreatorDAO, a decentralized autonomous organization that provides capital and operational support to "creators," raised $20 million in a seed funding round that was led by Andreessen Horowitz and Initialized Capital, according to a press release.
- "CreatorDAO invests in creators in exchange for a percentage of their future earnings," the release said. "The DAO structure allows investment decisions to be crowdsourced, and contributions to the DAO such as mentorship and collaboration to be rewarded."
- Entertainers such as Paris Hilton and musicians The Chainsmokers participated in the funding round, and have agreed to share their time and expertise with the CreatorDAO community.
- "The creator class now sets culture. It's thrilling to see Web3 playing a bigger role in ensuring that the next generation of creators are both compensated and mentored so the community can flourish," Sriram Krishnan, a general partner at Andreessen Horowitz, which is also known as a16z, said in the press release. "I'm excited to be a part of CreatorDAO both as an investor and a mentor, and I can't wait to see what the future holds."
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Read more: What Is a DAO?
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Brandy covered crypto-related venture capital deals for CoinDesk.