Web 3.0 is the hot topic right now; everyone wants to make some excellent investments with it, and ConsenSys is no exception.
The blockchain venture ConsenSys has raised $450 million in a new round of fundraising, bringing its total value to $7 billion.
According to ConsenSys, the fund injection was led by ParaFi Capital, with Microsoft, Japan’s SoftBank, and Singapore’s Temasek also joining as new investors.
ConsenSys was formed in 2014 in New York by Joseph Lubin, a co-founder of Ethereum.
Ethereum is the blockchain framework that powers ether, the second-largest cryptocurrency in the world, this is the future of cryptocurrencies.
Unlike bitcoin, which is mostly used for transactions, Ethereum can be used to build decentralized applications, or dapps(decentralized applications).
ConsenSys was a pioneer in developing the basic software for the Internet’s next phase, Web3.
Its goal is to “harness the collaborative potential of communities by making DAOs, NFTs, and DeFi globally accessible and simple to use,” according to the business.
After investing in ConsenSys’ Series C round in November 2021, ParaFi Capital lead the investments. Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, and C Ventures are among the new investors who have joined the company.