Marc Andreessen the billion-dollar investor might resign from the board of Meta as he is having a conflict with the interests of Meta. Marc Andreessen is the co-founder of Silicon Valley venture crypto capital firm, might be quitting Meta’s board of directors after his investment in the space of Web3.
Marc Andreessen Will Exit From Meta Due To Crypto Empire
A source stated to the Business Insider that even if Marc Andreessen decides to leave the board of directors, it won’t surprise him at all. Thus, Marc Andreessen might be leaving by the month of May when there will be re-election. No statement from Marc Andreessen came till now regarding the future of Meta Board and his association with the company.
In recent times, Meta has started to acquire or build numerous Web3 projects that are related to NFTs, Metaverse, entertainment and finance, and social networking. This means that there will be a clash of interests because of the 16z’s crypto empire.
There has also been news that Meta has applied for software that will be used for the identification of patent users which is mostly used in e-wallets and hardware quite similar to Ledger or MetaMask. However, for the time being, A16z is the best VC firm in the space of cryptocurrency. This company has helped to successfully conquer the investment round in BAYC creator Yuga Labs and have also started a fund of $30 million on 11th March to help all projects related to NFT art.
The past and most active investments of A16z’s in the space of crypto consist of DeFi protocol MakerDAO, centralized exchange Coinbase, decentralized exchange Uniswap, and NFT marketplace OpenSea and many more. A fund of $2.2 billion was raised by A16z in the last year and it is planning to raise $4.5 billion in the upcoming months, which makes it the leading venture to date.
