A16z Invests $70M in EigenLayer Tokens as Eigen Labs Unveils EigenCloud

EigenLayer is about to release a new version with big improvements to EigenDA and a preview of EigenVerify. This announcement is timed just as Andreessen Horowitz’s digital asset investment arm increases its investment in EigenLayer. With their recent $70 million token purchase they’ve made a big play in this arena. Eigen Labs, the creator of EigenLayer, completed a $100 million Series B funding round in February 2024.

A16z’s investment is a big bet on EigenLayer’s potential. It’s indicative of the increasing demand for decentralized technologies. EigenLayer’s updated version certainly has greater capabilities and scalability in store.

EigenCloud is at the heart of this migration. In short, the document sets out to connect developers’ dreams with what the blockchain can actually do.

"EigenCloud will enable the next generation of disruptive, mass-market crypto apps, closing the gap between what developers want to build on-chain and what blockchains allow them to build." - Sreeram Kannan

The EigenLayer upgrade rolls out a preview of EigenVerify. Stay tuned for more information about EigenVerify’s features and advantages.

Eigen Labs also believes that EigenCloud unlocks opportunities for developers to build the next generation of creative new products. These range from disintermediated digital marketplaces that shift asset ownership directly to creators, on-chain insurance platforms, to fully on-chain games. The platform further enables automated adjudication systems, prediction markets, and verifiable AI applications.

"It opens up the opportunity for developers to build highly ambitious products like disintermediated digital marketplaces, on-chain insurance, fully on-chain games, automated adjudication, powerful prediction markets, and verifiable AI." - Sreeram Kannan

A16z has completed a $70 million investment through the purchase of the EigenLayer (EIGEN) token. This is a huge move for EigenLayer’s credibility and strength in the market. The collaboration opens up Eigen Labs to become a bigger joint technological leader in the space.