Large, centralized social networks and their advertising business models have taken a negative toll on creators and media companies. Web2 has disintermediated those creating incredible work from reaping the true financial benefit and the communities that want to support their work.
For example, compare Meta’s nearly 100% take rates across Facebook and Instagram to NFT marketplace OpenSea’s 2.5%.
We believe that web3 gives media and content creators the tools to directly engage with their audience and monetize in a way that genuinely rewards the value of their work.
As we continue to invest in founders and startups that look to shape this web3 future, we want to bring on some of the leaders at the heart of the media, entertainment, and content creation industries.
That’s why I’m thrilled to welcome Richard Rosenblatt as our newest senior advisor at a16z crypto. Richard is one of the pioneers of digital media. He has had a storied career founding and running multiple media technology companies, including iMall, Intermix/Myspace and Demand Media.
In addition to joining us as a senior advisor to our crypto fund, Richard is currently the Chairman of two portfolio companies – ADIM and Autograph. I’m thrilled that he will now be an invaluable resource to our portfolio companies.
We couldn’t be more excited to bring him onboard as we continue to expand within Los Angeles.
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