Venture capital firm Andreessen Horowitz, or A16Z, has announced a $ 55 million investment in Layerzero, a web3 company that runs a crosschain messaging protocol. The investment was disclosed in a post on April 17 x by Ali Yahya, a general firm partner.
A16Z has made past investments in Layerzero, including a Initial Investment in March 2022 and a subsequent investment during the funding of the Layerzero series in April 2023. Companies did not disclose funding appreciation.
Layerzero based in Canada would cost $ 3 billion During the funding of the series B, which saw participation from 33 investors. In addition to A16Z, Circle Ventures, OKX ventures, opensea ventures, sequoia capital, and many others participated at that time.
In January 2025, Layerzero reached a settlement with the FTX estate in a long-standing dispute arising from allegations that it took advantage of the exchange of liquidity crisis through “conversation of a fire sales transaction,” according to the estate. In June 2024, Layerzero launched his own token, Layerzero (ZRO).
Related: ‘Big Sybil Hunt’ and durable users help Layerzero Airdrop to succeed, CEO says
Crosschain protocols, chain-magnosticism get traction
Crosschain messaging protocols allow programs to share information throughout the ecosystem and may be a critical operation for decentralized applications (DAPP) or entrepreneurs who want seamless swaps across the blockchain.
Some protocols competing in the same space as Layerzero includes wormhole, stargate, superbridge, connext, and much more.
Related: Paypal USD links with Layerzero for shift between Ethereum and Solana
The wormhole may be one of the largest competitors in Layerzero, having Raised $ 225 million to a $ 2.5 billion appreciation In November 2023. Like Layerzero, wormhole Hosts an AirDrop For its token, wormhole (W), although AirDrop attracts scammers and spoof tokens. The chainlink also has a crosschain interoperability protocol that provides for messaging between blockchains.
More and more companies realize the cost of being omniches or at least chain-bag-bag. The Phantom, who was initially a solana-centric wallet, is now supporting six major blockchains, including Bitcoin and Ethereum. Magic Eden, a NFT-infrastructure company, also started as Solana-centric but launched markets for many blockchains today.
Magazine: X Hall of Flame: Chainlinkgod was in high school when he started the account!
