A16Z CRYPTO

The first era of the modern internet [ 1990-2005] was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network: users and builders. The second era of the internet [ 2005-2020] favored siloed, centralized services. Most of the value accrued to a handful of large tech companies. We are now beginning the third era of the internet - what many call web3 - which combines the decentralized, community-governed ethos of the first era with the advanced, modern functionality of the second era. This unlocks a new wave of creativity and entrepreneurship... a16z crypto is a venture capital fund that has been investing in crypto and web3 startups - across all stages - since 2013.