Decentralized information protocol Golden has closed a $40 million funding spherical led by enterprise agency Andreessen Horowitz, or a16z, with further participation from Protocol Labs, OpenSea Ventures and the founders of Solana, Dropbox, Postmates and Twitch, amongst others.
Along with main the Collection B funding spherical, Andreessen Horowitz’s normal companion Ali Yahya will be a part of Golden’s board alongside a16z cofounder Marc Andreessen. The funding provides Golden further sources to proceed constructing its protocol, which is designed to standardize the invention and verification of information within the period of Web3.
Particularly, Golden is growing a decentralized interface that incentivizes amassing and verifying canonical information. The corporate claims that over 35,000 customers participated in early testnet phases of the protocol.
Associated: Microsoft, Avalanche, Polygon be a part of $20M funding of Web3 automation startup
Whereas enterprise financing for the crypto trade has slowed not too long ago, 2022 has seen report inflows for blockchain-focused startups. Lately, hedge fund Pantera Capital upped the ante by disclosing plans to increase $1.25 billion for its second blockchain fund. Tasks specializing in Web3, which refers to some future iteration of the web, have attracted outsized curiosity from the enterprise capital neighborhood.
In describing its product, Golden stated that incorporating Web3 applied sciences is “nicely suited to unravel the core issues” of incentivization. Golden plans to make use of native tokens for rewarding ‘good actors” but additionally specified that the ultimate product is “not merely ‘Web3 Wikipedia’.” The mainnet is scheduled for launch within the second quarter of 2023.
