A16Z-supported real estate company tries to go to crypto: report

A16Z-supported real estate company tries to go to crypto: report

The remarkable return of Adam Neumann to the real estate market has triggered a controversy as to whether the infamous WEWORK founder deserves a second chance.

But this time his new billion dollar company Flow has a prominent supporter: the risk capitalist Marc Andreese. And the company intends to deal with cryptocurrencies.

Flow, which scored a gate 350 million Dollar Investment from A16Z, plans to introduce a digital wallet that can contain cryptoassets-as well as currencies, including the US dollar. Forbes on Wednesday. The company's real estate management software will also work on the wallet.

The plans for the wallet remain open for the time being. A flow spokesman, Davidson Goldin, said Forbes that it is not used for rent payments with crypto for apartments managed by the company, but how other wallets can be used for external purchases.

GOLDIN's comments indicate that Flow will neither have a lot to do with cryptocurrencies, nor that the company will be a leader in the implementation of blockchain. Nevertheless, he added that Flow could use crypto for a token reward program.

Flow has no established website yet - it is only shows is an expected start in 2023 and a general contact option.

Flow is not linked to web3 startups

The WEWORK founder is not a stranger, but that's not the only sector in which he tried. After he had built office communities worldwide and quickly burned money, he was finally from the company, from the company, which he founded.

Neumann then founded Flowcarbon, which appeared at the beginning of this year, with the aim of output cryptocurrencies covered by emission certificates. Andreesen took part in a 70-millions of dollars compared to the platform in May as part of your 4.5-mill-Dollar-venture fund.

but the downturn of the cryptom market hindered this goal, with CEO Dana "waiting for the markets to stabilize" to bring onto the market.

At first glance, flow carbon and flow do not seem to be connected, except that they share a co -founder. Fascinating, Blog by A16Z calls Flow, Neumann's "First company since wework".

There is also the independent blockchain project from Doper Labs, which is already using a token with the ticker Flow, the price of which has been briefly updated due to the confusion of names.

The latest investment is Andreesen's second bet on Neumann since wework. The venture company supports Flow because Neumann "revolutionized" commercial properties through Wework and "fundamentally redesigned the office experience," said Andresen.

The changes in the lifestyle caused by the Covid 19 pandemic have meant that more people work from a distance, and will lead to "much less, if at all, experience social ties and friendships in the office, enjoy the local workers," he said.

The blog did not explain which specific problems Flow wanted to solve, but said that it was a "direct blow" on the current housing market crisis.

The spokesman for Flow did not answer the request from Blockworks for comment until the editorial deadline.

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The Post-A16Z-supported Real Estate Firm to Dip in Crypto: Report is not a financial advice.