Interoperability Protocol Layer Zero (ZRO) native tokens surged Thursday amid news that the crypto division of venture capital firm Andreesen Horowitz (A16Z) has increased investment in the project. The company has committed to a three-year lockup period and purchased an additional $55 million Zro token.
A16Z was an early backer of protocol developer Layerzero Labs, taking part in the $135 million Series A funding round in 2022 and the $120 million Series B round in 2023. Layer Zero is an infrastructure that enables communication between isolated blockchains via cross-chain messages. The protocol currently supports over 125 blockchains, enhancing 70% of Stablecoin’s interoperability and processing over 140 million messages.
The development highlights the growing confidence of investors in infrastructure projects that provide cross-chain capabilities. With the increasing adoption of blockchain, Layerzero aims to become the default messaging protocol for connecting fragmented ecosystems of cryptographic material.
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