ConsenSys Announces Closing of $200 Million Funding Round

ConsenSys announced last Wednesday, November 17, through its Twitter account, the closing of a financing round of $200 million dollars; In addition, it indicated that MetaMask now has more than 21 million monthly active users.

Image on ConsenSys post on Twitter

“Today, ConsenSys announced the closing of a $200 million funding round, bringing its valuation to $3.2 billion. New investors Marshall Wace, Third Point, ParaFi Capital and Think Investments contributed to the round along with new partners including Dragonfly Capital, Electric Capital, Spartan Group, DeFiance Capital, Animoca Brands, Coinbase Ventures and HSBC. Sullivan & Cromwell LLP acted as legal advisor to ConsenSys in this transaction”, he said in an article posted on his website.

The company said its mission is to unlock the collaborative power of communities by making Web3 universally easy to use, access and build. MetaMask is the primary way that a global user base of approximately 21 million monthly active users, a 38-fold increase from 2020, interacts with a universe of approximately 3,700 unique Web3 applications. Web3 enables creators to capture the true value of their work and communities to organize in real time, largely without borders. These applications include NFT marketplaces, money making games, decentralized autonomous organizations (DAO), decentralized finance applications (DeFi), and metaverse worlds.

Similarly, he highlighted that, as the leading self-custodial wallet, MetaMask acts as a digital authority manager for Web3, allowing only websites and applications to access data that a user consent to. The in-app exchange feature of MetaMask has enabled more than $10 billion in peer-to-peer token exchange.

Also read: SKALE: “OKEx available as an exchange for $SKL”

Additionally, MetaMask now supports Ethereum-compliant Layer 2 networks such as Polygon, Optimism, Arbitrum, zkSync, BSC, Celo, Avalanche, and NEAR / Aurora, accounting for more than 90% of the global volume of smart contract networks. MetaMask Institutional, an institution-friendly version of Metamask, integrates custodial and compliance solutions that enable organizations to access and participate in DeFi. ConsenSys is also increasing its efforts to drive adoption of NFT for artists, content creators, brands, rights owners, game publishers, and leagues.

In his view, ConsenSys developer tools and infrastructure are supported by Infura, which is used by 350,000 developers, including MetaMask and major DeFi and NFT platforms. Developers choose Infura because of its industry-leading scale and performance, best-in-class documentation, and resources to help developers spend less time on infrastructure and more time on construction.

“ConsenSys is increasingly integrating its other products with Infura to support the entire development lifecycle, such as Truffle (4.7 million developers) to write and test smart contracts, Diligence to secure smart contracts with hands-on code audits, and automated testing tools, and Customer Success. for technical support. ConsenSys Quorum Blockchain Service offers a fully managed Ethereum blockchain service to businesses. ConsenSys Quorum is already being used by 10 different central bank digital currency projects around the world. ConsenSys R&D and protocol engineers are the main drivers of the upcoming Ethereum merger, which will bring the most efficient and scalable Proof of Stake consensus system to Ethereum”, he added.

The company noted that the funding will support the rapid expansion of MetaMask and Infura’s industry-leading products, as well as the addition of 400 new roles to their products and services.

Total
1
Shares
1 comment

Comments are closed.

Related Posts