a16z Bets Massive on EigenLayer Once more With $70M Token Purchase to Again ‘EigenCloud’ Launch
Enterprise capital agency Andreessen Horowitz (a16z) has invested an extra $70 million in EigenLayer, Ethereum’s largest restaking protocol, to help the launch of EigenCloud, a brand new platform providing “verifiability-as-a-service” for builders, the businesses stated on Tuesday.
The funding follows a16z’s $100 million Collection B in Eigen Labs in February 2024, and underscores its dedication to the challenge by its Crypto Fund IV.
EigenLayer presently secures over $12 billion in restaked property.
EigenCloud permits builders to construct trustless, verifiable functions that function off-chain whereas anchoring belief and funds on the Ethereum blockchain.
Corporations like Securitize will use EigenCloud to confirm asset pricing knowledge for BlackRock’s $2 billion BUIDL fund.
The platform introduces new companies, EigenVerify for dispute decision and EigenCompute for offchain execution, alongside current AVSs like EigenDA for knowledge, the businesses stated.
By remodeling verifiability right into a programmable cloud primitive, EigenCloud is concentrating on sectors like AI, media, betting markets, and enterprise software program, because it goals to unlock a brand new wave of crypto-native and Web2-integrated functions.
“EigenCloud will allow the subsequent technology of disruptive, mass-market crypto apps, closing the hole between what builders need to construct onchain and what blockchains permit them to construct,” stated Sreeram Kannan, CEO of Eigen Labs, within the launch.
The alpha rollout consists of efficiency upgrades, dispute tooling, and a developer roadmap for phased entry.
Learn extra: The Protocol: EigenLayer Able to Launch Lacking Function
