Is A16Z's crypto fund changing its name to leave the crypto field? Chris Dixon's long article also validates the "hot topic" discussed in a tweet a year ago: the previously expected blockchain technology can be combined with many scenarios, such as gaming, social networking, e-commerce, and even many offline businesses, in the hope of bringing real innovation and value creation, which may not exist. The biggest application of blockchain is the transmission of business on chain (asset issuance, trading, and flow integration) and the use of tokens as incentive and trading media between AI agents. The core encryption has shifted from an independent track to the underlying infrastructure of the new capital paradigm of on chain finance. So A16Z renamed the Crypto Fund to A16Z Frontier precisely because the encryption technology has matured and deeply integrated into traditional finance and emerging AI scenarios, and is no longer suitable for being defined by a single "Crypto" label. Its actions directly verify that the "Crypto" boundary has expanded to the underlying capabilities of a wider range of cutting-edge technologies. The SEC's promotion of Project Crypto, traditional asset chain migration, and stablecoin growth further confirms the accelerating trend of integration, Blockchain is transitioning from an independent track to a lower level capability that can be directly accessed by more products, and the importance of tags is decreasing. When Wall Street, fintech, and traditional institutions have already used blockchain as infrastructure, simply labeling a company as a "crypto company" is not enough. Dixon's original words were that it is now more important to define a company based on what it does rather than what technology it uses. A16z changed its name precisely to capture this change. It is not withdrawing from encryption, but expanding its scope to "frontier startups" - technology companies that create new markets and may require years of development (including a large number of AI related ones). Encryption remains a key focus of investment and regulatory advocacy, but the boundaries have expanded as many truly influential companies view blockchain as a tool rather than an identity.