A16z Leads $40M Fundraiser for Decentralized Knowledge Protocol

Golden, which has now raised approximately $60 million in cumulative funding, also welcomed a16z General Partner Ali Yahya, on its board of directors.

Decentralized Knowledge Protocol Golden has closed a $40 million funding round led by venture capital firm Andreessen Horowitz, or a16z, with additional participation from Protocol Labs, OpenSea Ventures and Solana founders, Dropbox , Postmates and Twitch, among others.

In addition to leading the Series B funding round, Andreessen Horowitz General Partner Ali Yahya will join Golden's Board of Directors alongside a16z co-founder Marc Andreessen. The funding gives Golden additional resources to continue developing its protocol, which is designed to standardize knowledge discovery and verification in the age of Web3.

Specifically, Golden is developing a decentralized interface that encourages the collection and verification of canonical data. The company claims that more than 35,000 users participated in the early testnet phases of the protocol.

Related: Microsoft, Avalanche and Polygon Join in $20 Million Funding for Web3 Automation Startup

While venture capital funding for the crypto industry has slowed recently, 2022 has seen record inflows for blockchain-focused startups. Recently, hedge fund Pantera Capital upped the ante by revealing plans to raise $1.25 billion for its second blockchain fund. Projects specializing in Web3, which refers to a future iteration of the internet, have attracted