Blockchain Unicorn Raised $200 Mln Now Valued at $3.2 Bln.

Blockchain Unicorn Raised $200 Mln Now Valued at $3.2 Bln.

2021-11-18 | Mike Hallen

Blockchain Unicorn Raised $200 Mln Now Valued at $3.2 Bln.

As demand for DeFi and NFTs continues to rise, MetaMask's monthly active users have increased 38-fold since 2020. After finishing a $200 million investment round, blockchain infrastructure firm ConsenSys has hit a stratospheric value of $3.2 billion, joining over a dozen other crypto-focused startups to achieve unicorn status this year alone. Several new investors, including Marshall Wace, Third Point, and Think Investments, joined current investors such as Dragonfly Capital, Electric Capital, Spartan Group, Coinbase Ventures, HSBC, DeFiance Capital, and Animoca Brands in the $200 million fundraising round. MetaMask, ConsenSys' Ethereum wallet, and browser plugin have topped 21 million monthly active users, more than tripling in four months. Three crypto-focused custodians — BitGo, Qredo, and Cactus Custody — have approved MetaMask, which was established by ConsenSys, as part of their continuous attempts to attract more institutional money to the digital asset market. By offering the infrastructure to connect to decentralized exchanges, MetaMask has provided a vital mechanism for users to access decentralized finance, often known as DeFi. MetaMask aims to "democratize access to web3," which refers to the third generation of internet services, according to Joseph Lubin, co-founder of Ethereum and ConsenSys. Several crypto-focused firms have achieved unicorn status in the recent year, a phrase used to identify new businesses valued at $1 billion or more. After closing a $100 million Series A financing round in October, crypto listing site CoinList saw its worth climb to $1.5 billion. Blockdaemon, a blockchain infrastructure company, raised $155 million in Series B funding in September, increasing its total valuation to $1.255 billion. Mercado Bitcoin, Bitso, Blockstream, BlockFi, Fireblocks, Amber Group, Figure Technologies, OpenSea, and Blockchain.com are among the firms that have surpassed the $1 billion value threshold. This year, crypto venture capital has surpassed all prior highs. Venture capitalists invested more than $17 billion in crypto firms in the first ten months of 2021, compared to just over $5 billion in the entire year of 2020.

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