Venture Capital Giant A16z Leads $20M Round for CreatorDAO

CreatorDAO, a decentralized autonomous organization (DAO) that provides capital and operational support to «creators,» raised $20 million in a seed funding round led by Andreessen Horowitz (a16z) crypto and Initialized Capital, according to a press release.

«CreatorDAO invests in creators in exchange for a percentage of their future earnings,» said the release. «The DAO structure allows investment decisions to be crowdsourced, and contributions to the DAO such as mentorship and collaboration to be rewarded.»

Entertainers such as Paris Hilton and musicians The Chainsmokers participated in the funding round, and have also agreed to share their time and expertise with the CreatorDAO community.

«The creator class now sets culture. It’s thrilling to see web3 playing a bigger role in ensuring that the next generation of creators are both compensated and mentored so the community can flourish,» said a16z general partner Sriram Krishnan in the press release. «I’m excited to be a part of CreatorDAO both as an investor and a mentor, and I can’t wait to see what the future holds.»

Read more: What Is a DAO?

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