![]() ![]() Sure, by the standards of venture capital, $10 million is not a huge sum. ![]() ![]() In September, the trendsetting VC firm joined Pace Capital, Kindred Ventures, Spark Capital, and the 31-year-old New York Times–appointed “It Girl in venture capital” Li Jin in putting a total of $10 million into Friends With Benefits, which describes itself as “the ultimate cultural membership powered by a community of our favorite Web 3 artists, operators, and thinkers bound together by shared values and shared incentives.” While it may be that, in practice it’s mostly a chatroom on the app Discord, populated by around 1,500 crypto enthusiasts, artists, NFT collectors, and various hangers-on. Andreessen Horowitz has invested $5 million in a group chat.
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