ConsenSys said its estimate was more than double to more than $ 7 billion following recent funding from SoftBank Vision Fund 2 and Microsoft. Blockchain technology company ConsenSys said on Tuesday its estimates had more than doubled to $ 7 billion following its recent funding which included investments from SoftBank Vision Fund 2 and Microsoft.
ConsenSys, founded by Joseph Lubin, is an Ethereum blockchain firm whose products help developers, businesses and users develop applications targeted at “Web3”.
“Web3” is used to describe the following potential phase of the Internet: a web-based blockchain-based storage technology. The company, which raised $ 450 million in the last round, said it would use the money to increase its Meta Mask contribution by redesigning, which is expected to be released later this year. Meta Mask a crypto based wallet used to buy, sell and exchange tokens.
Investors in the new round led by ParaFi Capital include Temasek of Singapore, Anthos Capital, Sound Ventures and C Ventures. ConsenSy’s said it aims to convert all currencies from round to ether (ETH), the second largest cryptocurrency after bitcoin, re-evaluating the ETH rate to US dollar – equivalent to a dollar-equivalent company strategy. of treasury. Lubin has been instrumental in the development of cryptocurrency.
ConsenSys, valued at $ 3.2 billion in its last round of funding in November, joins a growing list of crypto companies that have speculated in recent months driven by an explosion of interest in “Web3” and the introduction of non-fungible markets. tokens (NFT). Earlier this year, the “Web3” developer site Alchemy almost tripled its value of $ 10.2 billion following a round of sponsorship led by Lightspeed and Silver Lake.
