Blockchain unicorn ConsenSys valued at $3.2B following $200M raise

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 Dragonfly Capital, Electric Capital, Spartan Group, Coinbase Ventures, HSBC, DeFiance Capital, and Animoca Brands in the $200 million fundraising round.

MetaMask, the Ethereum wallet and browser plugin from ConsenSys, has surpassed 21 million monthly active users, more than doubling in the last four months.

Three crypto-focused custodians — BitGo, Qredo, and Cactus Custody — recently adopted MetaMask, which was developed by ConsenSys, as part of their continuous attempts to attract more institutional money to the digital asset market. By providing users with the infrastructure to connect to decentralized exchanges, MetaMask has provided a vital avenue for users to access decentralized finance, often known as DeFi. MetaMask’s in-app swap functionality, according to ConsenSys, has facilitated more than $10 billion in peer-to-peer token switching.

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According to Joseph Lubin, co-founder of Ethereum and ConsenSys, MetaMask’s objective is to “democratize access to web3,” which refers to the third generation of internet services.

As part of their ongoing efforts to attract more institutional money to the digital asset market, three crypto-focused custodians — BitGo, Qredo, and Cactus Custody — recently accepted MetaMask, which was created by ConsenSys. MetaMask has offered a critical way for users to access decentralized finance, often known as DeFi, by providing the technology to connect to decentralized exchanges. According to ConsenSys, MetaMask’s in-app swap capability has permitted more than $10 billion in peer-to-peer token exchanging.

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 funds invested more than $17 billion in crypto firms in the first 10 months of 2021, compared to just over $5 billion in all of 2020.