Ii blockchain entrepreneurs take launched a new cryptocurrency fund designed to bootstrap promising Web three startups, sending a potent point that venture capital is eyeing the next builders of the decentralized net.

On Friday, Kevin Chou and Mahesh Vellanki unveiled SuperLayer, a crypto venture studio building Spider web 3 projects directly on the Rally network, a crypto-social platform that lets creators and artists launch their own digital currencies. The venture studio will launch projects in-house before recruiting product managers to further develop the business.

Notably, SuperLayer has received bankroll from big-name investors, including Marc Andreessen of venture capital letter firm Andreessen Horowitz, Chris Dixon, Paris Hilton, Nas, Michael Ovitz, Carter Reum and others. Initially, SuperLayer will deploy $25 million in seed investments and will continue to raise funds on an ongoing ground.

Kevin Chou was featured in The Cointelegraph Pinnacle 100 for 2022 in the category of adoption. Prior to co-founding Rally with colleague Mahesh Vellanki in 2022, Chou was at the helm of Kabam, an e-sports gaming company that sold for $1 billion in 2022.

Related: Crypto platform Rally commits $12M to tertiary-party developers

Marc Andreessen's Andreesen Horowitz has been behind some of the biggest crypto funding rounds. As Cointelegraph reported, blockchain platform Alchemy recently concluded a $250 million Series C investment circular that was led by the Silicon Valley venture firm. Earlier this year, the firm launched the biggest-e'er crypto venture fund valued at $ii.2 billion.

Every bit Cointelegraph reported, Andreesen's crypto fund recently recruited two prominent engineers from Facebook to join the firm every bit chief technology officeholder and primary information security officer, respectively. Facebook, meanwhile, has rebranded to Meta, reflecting its broadening ambitions beyond social media and into Web iii and augmented reality experiences.