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Andreessen Horowitz just dropped another $70 million on EIGEN tokens, backing EigenLayer’s bold new developer platform called EigenCloud. The investment came on Tuesday, perfectly timed with EigenCloud’s official launch.
This marks a16z crypto’s second huge bet on EigenLayer. They already invested $100 million in Eigen Labs during a Series B round earlier this year.
EigenCloud revolutionizes the way developers build apps. The platform provides blockchain-level security and verification for any application, regardless of whether it runs on the blockchain or not.
“EigenLayer is surmounting the technical bottlenecks of blockchains to enable a new category of applications built on verifiable solutions,” said Ali Yahya, general partner at a16z crypto.
The timing makes this investment especially bold. EIGEN tokens have crashed nearly 80% from their December peak of $5.65, currently trading around $1.17. Yet a16z doubled down anyway.
EigenLayer has become Ethereum’s largest restaking protocol, securing over $12 billion in restaked assets. The protocol lets users re-stake their Ethereum to secure additional services beyond the main blockchain.
EigenCloud works through three main technologies. EigenDA handles data storage with speeds over 10 megabytes per second. EigenVerify manages disputes through programmable enforcement rules. EigenCompute enables off-chain work while keeping cryptographic verification intact.
“EigenCloud will enable the next generation of disruptive, mass-market crypto apps, closing the gap between what developers want to build onchain and what blockchains allow them to build,” explained Sreeram Kannan, CEO of Eigen Labs.
The platform already has its first major enterprise customer. Financial services firm Securitize plans to use EigenCloud to verify asset pricing data for BlackRock’s $2 billion BUIDL tokenized fund.
Developers can access an alpha version starting this week. The initial release includes performance upgrades for EigenDA and limited access to EigenVerify services. Full availability is planned for later this year.
The investment brings a16z’s total backing to $170 million. This massive support positions EigenLayer against tough competition in the modular blockchain space, including rivals like Symbiotic, Celestia, and Avail.
EigenCloud aims to transform verifiability into what the team calls a “programmable economic primitive.” This could enable applications ranging from AI agents with cryptographic guarantees to prediction markets and verifiable media feeds.
The platform runs through EigenLayer’s network of Autonomous Verifiable Services. Over 200 services are currently live or in development, collectively securing around $2 billion in application value.
For EIGEN token holders, the platform creates new earning opportunities. Stakers can collect fees from application usage, with rewards going to those helping secure the network.
The launch caps nearly a year of development by Eigen Labs. With a16z’s continued backing, EigenCloud positions itself as key infrastructure for blockchain’s next chapter.
