Blockchain Software Firm ConsenSys Completes Its $200M Funding Round

With intentions to bring make Web 3.0 grow and make it much more accessible, ConsenSys hosted yet another funding round and successfully managed to amass $200M in funds.

The Ethereum-based Blockchain tech company, ConsenSys just recently made the announcement of the successful funding round, following the impressive performance of the MetaMask browser extension. The funding round included both traditional and cryptocurrency-based companies such as Marshall Wace, Third Point, Singaporean DeFi firm Defiance Capital, and a couple of others.

Global Expansion

ConsenSys mentioned that the funds gathered will be utilized in the evolution of MetaMask and Infura, with hundreds of new positions being provided on a global scale. ConsenSys already has employees scattered throughout the world, with its current workforce operating from more than thirty different nations, which it has plans to double the number of employees in the coming year of 2022.

ConenSys also shared that most of the new positions will be operating remotely from the Asian Continent in order to grow its image in Asia, where there is a massive increase in activities related to Decentralized Finance and NFTs.

ConsenSys, founded way back in the year 2014, now has quite an impressive line of products under its table. Many products such as Codefi, Diligence, Infura, and many others have contributed heavily towards the firm’s success, as it continues to spread its presence across the globe.

MetaMask and its Performance

MetaMask is a web browser extension service that provides users to handle their personal private keys themselves, without having to connect with any private custodian or any other third party. Reports highlight that MetaMask, the non-custodial wallet service, has reached more than 21 million active users on the network, which is quite a significant jump compared to that of last year. This increase in user base is basically a result of the substantial growth of the Ethereum ecosystem that includes, Decentralized Finance, stablecoins, and NFTs.

Rise of Web 3.0

The popularity of decentralized protocols has increased to its highest levels, and it seems that the world is now turning towards them more often. Founder of ConsenSys, Joseph Lubin, stated that the adoption rate has already doubled, and the company is excited to partner up with some of the top-rated investors in order to contribute towards the growth of Web 3.0.