Venture capital firm Andreessen Horowitz (a16z) has made a significant move by investing an additional $55 million in the LayerZero protocol’s native token (ZRO). This strategic move sees a16z locking these ZRO tokens for three years, showcasing a long-term commitment to the omnichain project. The decision comes after a sustained bullish momentum following ZRO price surge and increased interest from institutional investors.
The investment announcement coincides with growing optimism about LayerZero’s potential impact on the crypto landscape. This venture capital firm played a crucial role in the protocol’s early success, contributing to a valuation of over $3 billion after multiple funding rounds including its Series B round in 2023.