HSBC has now joined a $200 million funding round for ConsenSys. The latest funding round values the blockchain software engineering company at $3.2 billion. Think Investments, Dragonfly Capital, Third Point, ParaFi Capital, Marshall Wace, DeFiance Capital, Animoca Brands, Electric Capital, Spartan Group, and Coinbase Ventures also joined this funding round.
Since its launch, ConsenSys has set itself the task of unlocking:
“Collaborative power of communities by making Web3 universally easy to use, access, and build on”.
Its main way of achieving this task is through its MetaMask app and browser extension. This extension enables 21 million monthly active users to hold and manage their digital tokens. Users can also connect with 3700 Web3 applications that include play-to-earn games, DeFi applications, NFT marketplaces, , decentralized autonomous organizations (DAO), and metaverse worlds.
The latest round of funding will be used mainly to support the growth and expansion of MetaMask and ConsenSys’ Infura blockchain development tool. Also, part of these funds will be used to hire an additional 400 employees.
The CEO of ConsenSys, Joseph Lubin, said:
“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.”
“As our technology crosses into the mainstream, we are already seeing the transformation of how larger and larger cohorts of builders, users, artists, and enterprises live and work.”