a16z Bets Big on EigenLayer Again With $70M Token Buy to Back ‘EigenCloud’ Launch

Venture capital agency Andreessen Horowitz (a16z) has invested a further $70 million in EigenLayer, Ethereum’s largest restaking protocol, to assist the launch of EigenCloud, a brand new platform providing “verifiability-as-a-service” for builders, the businesses stated on Tuesday.

The funding follows a16z’s $100 million Series B in Eigen Labs in February 2024, and underscores its dedication to the challenge via its Crypto Fund IV.

EigenLayer at the moment secures over $12 billion in restaked belongings.

EigenCloud permits builders to construct trustless, verifiable functions that function off-chain whereas anchoring belief and funds on the Ethereum blockchain.

Companies like Securitize will use EigenCloud to confirm asset pricing information for BlackRock’s $2 billion BUIDL fund.

The platform introduces new companies, EigenConfirm for dispute decision and EigenCompute for offchain execution, alongside current AVSs like EigenDA for information, the businesses stated.

By remodeling verifiability right into a programmable cloud primitive, EigenCloud is focusing on sectors like AI, media, betting markets, and enterprise software program, because it goals to unlock a brand new wave of crypto-native and Web2-integrated functions.

“EigenCloud will enable the next generation of disruptive, mass-market crypto apps, closing the gap between what developers want to build onchain and what blockchains allow them to build,” stated Sreeram Kannan, CEO of Eigen Labs, within the launch.

The alpha rollout contains efficiency upgrades, dispute tooling, and a developer roadmap for phased entry.

Read extra: The Protocol: EigenLayer Ready to Launch Missing Feature