Marc Andreessen, billionaire technology enthusiast turned Venture Capitalist, said Web3 and its underlying blockchain technology remind him of the rise of the early interest.
Andreessen, as of now, is the co-founder of the blockchain-focused VC firm Andreessen Horowitz (a16z), originally found success by developing the first widely used web browser known as Mosaic, and then founded the Netscape Navigator, which dominated the whole browser market of the 1990s.
Appearing on the Bankless podcast with the investment partner and partnership with Chris Dixon, Andreessen revealed that the growing adoption and growth in Web3 is remarkably similar to the rush of activity that marked his early years in the technology.
Andreessen insisted that he would not foolishly just be going to make such a comparison, and this was the first time he had made such a claim.
While the parallel between the adoption path of blockchain technology and the early internet has often been drawn by the crypto-enthusiasts, Andreessen’s front-line experience gives him the unparalleled authority to make such kinds of statements.
Earlier known for its early investments in Slack and Instagram, a16z first entered the crypto industry in the year 2013 with an investment in Coinbase and has since become a significant cryptocurrency which includes OpenC, Polychain Capital, Avalanche, Solana related businesses.
A week ago, it revealed the launch of its fourth cryptocurrency fund for $4.5 billion, which brings the total capital invested by Andreessen into the crypto businesses to more than $7.6 billion.
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