Andreessen Horowitz revealed it is leading a $50M seed round in VeeFriends, an NFT project by VaynerMedia founder Gary Vaynerchuk. VeeFriends claims to have generated 200,000 ETH in primary and secondary sales since its inception in May 2021.
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The project plans to use the funds to expand its intellectual property across physical and digital platforms.
The collection is based on 283 cartoon characters. Token holders have admission rights to the VeeCon conference, which first took place in May in Minneapolis.
VeeFriends released new characters through a second collection, which includes a trading card game as part of the utility of the tokens.
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A16z recently led a $25M seed round in Co:Create, a protocol for NFT projects to launch their own native tokens. Vaynerchuk also participated in the round through VaynerFund.
Source : Inside
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