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A16z Backs Web3 Consumer App Setter in $5M Seed Round

Venture capital giant Andreessen Horowitz (a16z) led a $5 million seed round into Setter, a consumer app that allows brands to explore Web3-powered commerce. The app by New York-based Setter plans to help brands innovate how they promote exclusive products and provide customers with limited edition drops, the firm said in an emailed announcement on Tuesday. Setter aims to address "the complexity and unfriendliness of current wallet technologies," making entry into Web3 a more seamless experience for more users, according to the announcement. Setter's initial focus is on developing partnerships with streetwear and sneaker brands with the aim of expanding across fashion.

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