Venture capital firm A16z has invested 55 million USD in LayerZero, emphasizing the importance of crosschain messaging protocols. This investment is locked for three years and made through LayerZero tokens.
LayerZero was valued at 3 billion USD during its Series B funding round with participation from prominent investors. It’s competing with notable protocols like Wormhole and Chainlink as demand for decentralized applications rises.
The announcement from A16z reflects increasing trends towards crosschain interoperability, which is valuable for DApps and traders seeking seamless operations across multiple blockchains.
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