Cindadox has raised $7 million in investment. The round was led by former Andreessen Horowitz (16z) general partner Kathy Haun Ventures, which was founded by former general partner Kathy Haun.
The startup will use the funds to accelerate the development of an open infrastructure for NFT projects and expand collaborations with teams from the field.
Cindadox also intends to increase the number of grants awarded and hackathons held. “Haun Ventures is dedicated to supporting teams that make the Internet better. This means more networking, creativity, security and accountability than the previous version. NFT is a core building block that is central to the future of the Internet,” said venture partner Sam Rosenblum.
Rosenblum said the Cindadox funding round was the first the firm had led. “We’ve only seen the tip of the NFT iceberg in Web 3.0 and believe that Cindadox will become one of the most important protocols (and DAOs) as the NFT ecosystem and use cases expand significantly in the coming years,” he said.