As the cryptocurrency market matures, venture capital giants are increasing their efforts to fund crypto research. Andreessen Horowitz has announced the launch of its new multidisciplinary lab a16z crypto research
that will work closely with the firm’s investment portfolio to solve some of the crypto space’s most pressing issues.
This lab will concentrate on tapping the developments in emerging technologies such as Web 3.0. The official press release states:
In the last decade, the world of crypto and web3 has likewise emerged as a new frontier in technology, and it has matured into an independent field of knowledge that brings together elements of computer science, economics, finance, and the humanities.
The VC giants cite additional development over the last decade taking place in decentralized finance (DeFi), open-source code running on blockchains (DAOs), and social networks that empower artists and creators (via NFTs).
A16z believes that there is a major opportunity for an industrial lab to bridge academic theory and industrial practice in the space. The multidisciplinary lab will aid in the development of Web 3.0 and crypto as a formal subject of study, drawing the best talent from a variety of disciplines that are relevant to the space.
The Expansion of Web 3.0
The Web 3.0 industry is expected to see major growth in the coming decade. Market Data Center has published a recent report Global Web 3.0 Blockchain Market Forecast to 2030.
The Web 3.0 Market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World(RoW) on the geographical level. The report notes that the global Web 3.0 Blockchain Market will be dominated by North America.
Furthermore, owing to a significant investment in research and development, resulting in a faster pace during the expected period. Tim Roughgarden will lead the work on a16z crypto research in the current project.