Solana Labs completes a $314M private token sale led by Andreessen Horowitz

With the new resources, Solana Labs will launch an incubation studio to accelerate the development of decentralized applications and platforms building on Solana, alongside a venture investing arm and trading desk dedicated to the Solana ecosystem. "Solana is build-ready today. After seeing explosive growth in global developer uptake, we are convinced that scalability and throughput in blockchain are now a solved problem. This is an inflection point akin to the moment that PC's became widely accessible in the 1970's," said Anatoly Yakovenko, Solana Labs Co-Founder and CEO. "The next phase is onboarding a billion users. Solana was built from the ground up to accommodate this scale. With this funding, Solana Labs is now positioned to bring in the right partners and capital to build products and tooling to get there." Due to the Solana protocol's innovative design, the network has become a prime breeding ground for developers seeking to build and deploy market-ready applications that are secure, fast, low-cost and energy efficient, all of which play critical roles in attracting the next billion users of blockchain and crypto technologies. Ali Yahya, General Partner, Andreessen Horowitz: "The next wave of innovation in crypto will happen at the application layer. It is easy to imagine countless use cases for crypto as a technology, but building them into real products that millions of people use requires the existence of a high-performance blockchain. Solana is a next-generation blockchain that can meet that high bar." Olaf Carlson-Wee, Managing Partner, Polychain Capital: "We've been following Solana for a long time and believe it could massively scale the DeFi ecosystem. In our view, Solana is a compliment to Ethereum, and we're thrilled to see strong developer activity and a continually expanding community grow around the project." Solana is the most performant blockchain in the world. Inc. is a blockchain studio that incubates and launches decentralized finance projects built on Solana, the world's most performant blockchain.