@taskmaster4450le's thread

Marc Andreesen shoutouts help AI-powered VC fund ai16z to nearly $100 million market cap

The fund's market cap has since declined to about $50 million, though the experiment is just getting started.

New platform Daos.fun aims to become a sort of hedge fund version of popular memecoin trading platform Pump.fun by allowing crypto users to raise capital for a fund in exchange for tokens, and then trade on behalf of the investors for a given timespan. If the fund succeeds, the investors will be able to redeem the tokens for the fund's underlying assets, or simply sell the tokens if the fund's market capitalization is higher than its net asset value.

#daosfun #technology #ai #a16z #marcandreeson #crypto