Fun

Consensys Aims for $3 Billion Valuation in Upcoming Funding Round

News Feed - 2021-10-13 03:10:47

Consensys Aims for $3 Billion Valuation in Upcoming Funding Round


Consensys, the Ethereum-based software boutique, is aiming to get a valuation that could reach $3 billion dollars in its upcoming funding round. The company would be taking advantage of the bullish climate the industry is experiencing right now to achieve this important milestone. Also, Consensys is flexing its economic muscle by acquiring Treum, developer of Music NFT service EulerBeats. Consensys Aims for Billion+ Valuation in Next Funding Round


Consensys, one of the main software providers in the Ethereum ecosystem, is reportedly aiming to achieve a valuation that could reach $3 billion in its upcoming funding round, according to information published by FT. The company, led by Ethereum OG Joseph Lubin, would be aiming to leverage its position in the ecosystem and the brewing bull market to achieve the breakthrough goal.


Consensys provides several iconic software offerings in the Ethereum ecosystem, having developed Infura, a service that eases development and deployment of Ethereum-based apps. Metamask, a ubiquitous defi wallet that was also developed by the firm, is used by more than 10 million active users monthly. Down and Up Again


But Consensys has not always enjoyed the preference that investors are giving it today. The company has gone through rough times, having to cut part of its workforce just last year during a slump period. However, the rise of the decentralized finance sector and the interest in the future of Ethereum by various heavy-hitting institutional partners have made Consensys rise again as one of the most important software boutiques of the ecosystem.


The latest funding round the company conducted happened in April, when the company raised $65 million from several important companies such as JPMorgan, Mastercard, UBS AG, Protocol Labs, the Maker Foundation, Fenbushi, The LAO, and Alameda Research. At that time the company stated these funds would be used to “accelerate the convergence of decentralized finance (DeFi) and Web3 applications on Ethereum with enterprise blockchain infrastructure.”


However, Consensys is now flexing its economic muscle, as it announced today it has acquired and integrated Treum for an undisclosed amount. The acquisition of Treum, developers of Eulerbeats (an Ethereum-based project of algorithmically generated art and audio tracks), will give the company a new focus related to the NFT market that has boomed during this last year.


What do you think about Consensys’ latest funding round and its recent acquisition of Treum? Tell us in the comments section below. Bank of Spain Criticizes El Salvador"s Foray Into Bitcoin NEWS | 4 hours ago Binance Launches $1 Billion Fund to Boost Adoption of Its Smart Chain and Entire Blockchain Industry NEWS | 6 hours ago Tags in this story billions, ConsensYs, eulerbeats, funding round, treum, valuation


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Billionaire’s suit over scam crypto ads on Meta dismissed in Australia
Derek Andersen7 hours agoBillionaire’s suit over scam crypto ads on Meta dismissed in AustraliaAndrew Forrest’s image was used in an ad promoting crypto scams. He has another suit against Meta in a California distric
Blockchain.com CFO Says Company Could IPO in ’18-Months,’ Firm’s Balance Sheet Holds BTC, ETH
Blockchain.com CFO Says Company Could IPO in "18-Months," Firm"s Balance Sheet Holds BTC, ETH This week Blockchain.com CFO Macrina Kgil discussed how the company has surpassed $1 t
BNB’s 12% weekly surge: peaking or just getting started?
Marcel Pechman4 hours agoBNB’s 12% weekly surge: peaking or just getting started?Can BNB break past $620? On-chain and derivatives metrics hint positvely.1208 Total views77 Total sharesListen to article 0:00Altcoin Wat
Monad’s $225M funding: Optimistic parallelization and MonadBFT insights
Cointelegraph Research9 hours agoMonad’s $225M funding: Optimistic parallelization and MonadBFT insightsMonad Labs raised $225 million, led by Paradigm, pushing forward the discussion on parallelized EVM chains.243 Tot
Bitcoin, Ethereum Technical Analysis: BTC Slips Below $40,000 yet Again, Following Brief Rebound on Tuesday 
Bitcoin, Ethereum Technical Analysis: BTC Slips Below $40,000 yet Again, Following Brief Rebound on Tuesday  Following a brief rally on Tuesday, BTC once again dropped below the $
Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011
Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011 Crystal Blockchain, a company that provides blockchain data and analytics, published a study cover
If Solana Reclaims $210 ‘New Highs Are Next’ – Price Analysis
Este artículo también está disponible en español. The crypto market showed signs of life yesterday after enduring weeks of persistent selling pressure, with many assets s
Bitcoin To Hit $100,000 in Five Years as Demand and Adoption Increase – Report
Bitcoin To Hit $100,000 in Five Years as Demand and Adoption Increase - ReportBloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025. McGlo
Game Developers GSC Game World and Ubisoft Face Backlash About NFT Inclusion
Game Developers GSC Game World and Ubisoft Face Backlash About NFT Inclusion GSC Game World and Ubisoft, two game development companies, are dealing with backlash about the inclusi
Ezra Reguerra12 hours agoPoloniex says hacker’s identity is confirmed, offers last bounty at $10MA community member questioned why Poloniex needed to send an on-chain message in 15 different languages if the hacker’s
Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600
Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600 Americans are worried about a new tax reporting requirement that will force app
Prashant Jha12 hours agoCaroline Ellison: Secret recording offers trove of explosive revelationsAmong many critical revelations about Alameda and FTX’s relationship, Caroline Ellison confirmed that Alameda always had a