In a sign that crypto and blockchain-focused investing has receded in importance, Andreessen Horowitz announced Thursday that it is renaming its digital asset unit from a16z Crypto to a16z Frontier.
The practice, helmed by Chris Dixon, has raised nearly $10 billion across five funds since launching in 2018, backing some of the sector’s biggest wins, including Coinbase. Yet for years, a16z and rival venture firms struggled to push crypto’s utility beyond financial rails, trading applications, and speculative assets.
