Red Beard Ventures recently announced it closed $25 million in funding from several notable investors including a16z’s Marc Andreessen and Chris Dixon and John Crain (CEO of NFT company SuperRare). Web3 gaming company Animoca Brands also joined the round.
This funding round will be used for accelerating the Web3 market. And the funding also supports the launch of a tokenomics accelerator program known as Denarii Labs, which is a joint initiative with Horizen Labs Ventures according to Coindesk.
Denarii Labs is going to offer advisory services, mentorship, and support for token project launches. And this accelerator is now accepting applications for its inaugural cohort, which is expected to begin the third quarter of this year with each company receiving $100,000.
Red Beard Ventures was initially launched as a syndicate of AngelList in 2019 by founder and managing partner Drew Austin. And Red Beard Ventures has invested in 192 companies, including Dapper Labs, The Sandbox, and CryptoSlam.
