In Brief:
- ConsenSys raised 200 million USD in a funding round and is now valued at 3.2 billion USD.
- MetaMask is the native wallet of ConsenSys and is used by approximately 21 million MAU.
- ConsenSys’ mission is to make Web3 widely accessible, usable, and buildable.
ConsenSys announced on 17th Nov. that a $200 million funding round has closed, bringing the company’s valuation to $3.2 billion.
The mission of ConsenSys is to unlock the collaborative power of communities by making Web3 universally accessible, usable, and buildable.
For global users MetaMask, the flagship product of ConsenSys, is a primary way of approximately 21 million monthly active users (MAU), who interact with a universe of approximately 3,700 unique Web3 applications.
Web3 enables producers to realise the true worth of their work and communities to form in real time, mostly free of boundaries. NFT marketplaces, play-to-earn games, decentralised autonomous organisations (DAOs), decentralised finance (DeFi) applications, and metaverse worlds are among these applications.
MetaMask, as the main self-custodial wallet, serves as a digital authority manager for Web3, allowing only websites and apps to access data that the user has given their authorization to. The in-app swap feature of MetaMask has enabled peer-to-peer token trading worth more than $10 billion USD.
MetaMask Institutional is an institution-compliant version of Metamask that integrates custody and compliance solutions to allow organisations to access and engage in DeFi. ConsenSys is also stepping up its efforts to encourage artists, content creators, brands, rights holders, game publishers, and leagues to use NFT.
Infura, which is used by 350k developers, including MetaMask and leading DeFi and NFT platforms, lies at the heart of ConsenSys’ developer tools and infrastructure. Infura is preferred by developers due to its industry-leading scale and performance.
ConsenSys’ other products, such as Truffle (4.7 million developers) for writing and testing smart contracts, Diligence for securing smart contracts with hands-on code audits and automated testing tools, and Customer Success for tech support, are increasingly integrating with Infura to support the entire development lifecycle.
Enterprises can use ConsenSys Quorum Blockchain Solution, which provides a fully managed Ethereum blockchain service. Ten distinct Central Bank Digital Currency projects around the world are already using ConsenSys Quorum.
The funding will be used to support MetaMask and Infura’s rapid expansion of their industry-leading solutions, as well as the addition of 400 new roles across their products and services.
According to Joseph Lubin, the founder and CEO of ConsenSys and a co-creator of Ethereum, “The paradigm shift to a world running on decentralized protocols is in full gear. The pace of adoption is now so rapid that we’ve more than doubled many of our core KPIs since this deal was struck over the summer. We are honored to partner with some of the top financial and strategic investors from both traditional and next generation economies to accelerate the realization of Web3.”
Earlier this month, Telos, a blockchain platform founded by ConsenSys and Polygon investor John Lilic, raised $8 million in investment.
