Andreessen, Alexis Ohanian Back $30M Crypto Fund—That Only Invests in NFTs

Curated, a new NFT investment fund, just launched and is already bringing on some of the biggest names in the crypto and Web3 space.

Just when the traditional finance world was beginning to get used to the idea of a “crypto fund,” now it’ll need to contend with million-dollar funds for JPEGs.

The latest is Curated, a $30 million fund that plans to invest exclusively in NFTs and is backed by some of the biggest names in the crypto and Web3 investment space, including Andreessen Horowitz’s Marc Andreessen and Chris Dixon, as well as Reddit and Seven Seven Six Ventures founder Alexis Ohanian.

NFTs are unique tokens that can be used to demonstrate ownership over digital assets. They've become a popular way for digital artists to showcase their talent and turn a profit, with billions now pouring into the NFT art world. Last month alone saw more than $4 billion in NFT sales, according to Dappradar, on top of the $21 billion throughout 2021. Now there appears to be growing interest in the market among large investment funds, including billionaire tech entrepreneurs like Andreessen.

Curated co-founders Todd Goldberg, and Andrew Jiang announced the launch of the fund yesterday on Twitter.

According to a Twitter thread by the Curated account, the fund is meant for high-signal collectors and is long-term focused. "We believe we're still very early!" Curated wrote. "We will patiently wait for opportune times to buy and plan to hold most assets long-term—5-10 years or longer."