Arweave receives $5 million in venture capital, Andreessen Horowitz leads

Arweave, a blockchain agreement focused on permanently storing Internet information, has received $5 million in venture capital led by venture capital firm Andreessen Horowitz. According to reports, the seed round financing has been oversubscribed, with participation in Multicoin Capital, Union Square Ventures, 1kx and Techstars. The company's solution, permaweb, allows Internet users to permanently record digital files such as web pages, emails and social media posts on their blockchain through the Arweave browser extension.