- The media recently uncovered the identity of the investor who partnered with the Optimism Foundation to purchase OP tokens.
- It was revealed that the investor is none other than the renowned venture fund, Andreessen Horowitz (a16z).
- Reports indicate that a16z acquired $90 million worth of OP tokens.
Leading venture fund Andreessen Horowitz (a16z) has made a significant investment by purchasing Optimism (OP) tokens amounting to $90 million, according to sources cited by Unchained.
Earlier this year, on March 7, 2024, the Optimism Foundation announced a major token sale. On that day, they struck a deal involving the sale of 19.5 million OP tokens to an undisclosed investor.
This suggests that the a16z Foundation is likely to be the aforementioned investor partnering with the Optimism Foundation. The March agreement also included a sum close to $90 million.
“Because this was a private sale, details of the contract and the name of the buyer cannot be disclosed,” the Optimism Foundation stated.
One of the terms of the agreement stipulates a two-year lockup period for the tokens. This means that the investor will be unable to sell the assets during this time, but they are allowed to delegate them to third parties, such as participating in various voting processes regarding management decisions.
On March 1, 2024, the value of the OP token dropped to $2.42. In the past 24 hours, its price has seen a 5% decrease, as reported by TradingView.
In January 2024, there were suspicions of a16z-backed projects conducting public token sales. However, Chris Dixon, the fund’s managing partner, refuted these claims.