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Decentralized knowledge protocol Golden has completed a $40 million funding round led by venture firm Andreessen Horowitz (a16z), with additional participation from founders Protocol Labs, OpenSea Ventures, Solana, Dropbox, Postmates, Twitch and more. did.
In addition to leading the Series B funding round, Andreessen Horowitz general partner Aryaya will join Golden’s board of directors alongside a16z co-founder Marc Andreessen. The funding will give Golden additional resources to continue building protocols designed to standardize knowledge discovery and validation in the Web3 era.
Specifically, Golden is developing a decentralized interface that encourages canonical data collection and validation. The company claims that over 35,000 users have participated in the protocol’s initial testnet phase.
Related: Microsoft, Avalanche and Polygon Join $20M Funding for Web3 Automation Startup
Venture funding into the crypto industry has slowed recently, but 2022 saw record inflows to blockchain-focused startups. Recently, hedge fund Pantera Capital raised more funding by disclosing his plans to raise $1.25 billion for a second blockchain fund. Projects dedicated to Web3 (referring to the future iteration of the Internet) are attracting tremendous interest from the venture capital community.
In describing the company’s product, Golden said the inclusion of Web3 technology is “well suited to solve the core problem” of Incentives. Golden plans to use native tokens to reward “good actors,” but also says the final product will be “more than just a ‘Web3 Wikipedia’.” The mainnet will be released in the second quarter of 2023.
