Crypto Updates

a16z’s Dixon Denies Public Token Sales, But Portfolio Tells A Different Story: Report

Veteran Trader Peter Brandt Asks Macro Guru If Bitcoin Bull Has Finally Awoken From Deep Slumber

Even as Andreessen Horowitz (a16z) general partner and venture capitalist Chris Dixon recently claimed none of the companies in the a16z portfolio are allowed to sell tokens to the public, a review of a16z’s investments revealed several instances that appear to disagree with Dixon’s assertion.

Horowitz was recently featured on the New York Times’ Hard Fork podcast, where he discussed and justified the investment strategies of his firm, according to Protos.

During the interview, Dixon made a notable statement regarding Helium, asserting, “No company we’re involved with — nor would we allow them to do this — sells tokens to the public.”

This claim has come under scrutiny when considering the broader scope of a16z’s investments.

An examination of a16z’s portfolio reveals some conflicting instances.

Horowitz’s involvement in DFINITY, a prominent blockchain project known for creating Internet Computer Protocol (ICP) tokens, is a prime example.

These tokens, integral to DFINITY’s aim of extending the functionality of the internet, were distributed to individuals who made contributions to the DFINITY foundation, a move that seems at odds with Dixon’s statement.

Furthermore, a16z’s investment in Fei Protocol, an innovative algorithmic stablecoin project added to the complexity. Fei’s initial offering involved the sale of FEI (CRYPTO: FEI) tokens and TRIBE governance tokens during its Genesis Event.

Also Read: Bitcoin ETFs Already Hold 3% Of BTC’s Supply: Where Does Institutional Adoption End?

Another notable investment by a16z is in Sky Mavis, the developer behind the popular blockchain-based game Axie Infinity (CRYPTO: AXS).

Sky Mavis made headlines with the sale of its AXS token on Binance Launchpad, a platform known for facilitating new cryptocurrency offerings.

This sale is particularly noteworthy as AXS tokens play a crucial role in the Axie Infinity ecosystem, a game that has gained massive popularity in the blockchain gaming community.

In another part of the interview, Dixon discussed non-fungible tokens (NFTs), seemingly distinguishing them from other tokens.

He noted that several a16z-backed companies have engaged in selling NFTs to retail customers.

This includes VeeFriends, a platform used by entrepreneur Gary Vaynerchuk for selling his NFTs, and Yuga Labs, the creators…

Click Here to Read the Full Original Article at Cryptocurrencies Feed…