Crypto Pioneer Backed By a16z, Alchemy Raises Value to $3.5B
29 October 2021 - 5:56PM
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Alchemy, the pioneer of crypto infrastructure, raised its value to
$3.5 billion with a $250 million Series C round of funding led by
Andreessen Horowitz (a16z). Alchemy is the leading platform for
blockchain and Web3 developers. Currently, they intend to reinvest
in the ecosystem’s expansion. Alchemy has seen exponential growth
in the past six months with revenues rising over 15 times. They pin
their success to their main goal: “make building on the blockchain
and Web3 so easy, anyone can do it.”; which turned out to have
bigger demand than they expected, boosting their rapid growth. They
stated that their achievements surpassed their initial vision, and
that being already a big picture consisting of creating a platform
for the developers’ community managing to do for them “what AWS has
done for the web or what Windows and Mac did for computing.” What
we didn’t realize was just how big of a need this was! Today, we
power the majority of DeFi and almost every single NFT marketplace
that has made that whole industry The company further explained
that their “reliability and scalability” is what the ecosystem’s
leading companies “are building their success” on. Meaning that
this new round of funding will not only help their growth as a
company, but it will turn into new benefits for more than one
industry. Related Reading | Yieldly’s CEO Says
Interoperability In DeFi Is More Important Than A Market-Leading
Blockchain Crypto AWS To Reach Full Potential Alchemy’s potential
is so large that one cannot possibly narrow it down to one
industry. It is at the core of NFTs, DeFi, exchanges, financial
institutions, multinational organizations, and more. They publicly
launched around a year ago and now lead as “the solution of choice”
for many of the largest crypto companies we can think of: OpenSea,
CryptoPunks, Axie Infinity, as well and the ones that are showing
new interest in the blockchain, such as Adobe, and others.
Alchemy’s platform has shown the truth about the blockchain: it
goes beyond currencies and trading. The possibilities it has given
to programmers around the world are just the beginning of the
emerging capabilities of DeFi and NFTs. From investors to gamers
and creators, the blockchain’s technology prepares the soil for
many generations to come. Related Reading | 17% Of Ethereum
Addresses Hold Majority Of NFTs Ali Yahya, General Partner at a16z,
showed their enthusiasm in their public announcement stating that
Alchemy is “one of the fastest-growing companies we’ve ever seen in
any category,”. He also deepened an explanation of their work: In
the same way that Apple and Amazon built platforms that help
developers build on PCs, smartphones, and the cloud, Alchemy is
building a platform that helps developers build on modern
blockchains. (…) The biggest misconception about blockchains is
that they are just about money, cryptocurrencies, or finance, the
truth is that they’re actually much more powerful and allow for a
much broader set of applications. During the past year, Alchemy’s
co-founders have shown a long-term vision and a fierce way to build
up their performance and achieve worldwide innovation. Nikil
Viswanathan, co-founder and CEO of the company, commented that
“Empowering developers is the key to bringing the magic of
blockchain to the world.” With tens of millions of users worldwide,
Alchemy powers over $45 billion of annual web3 transactions. Other
than a16z, they are also backed by Stanford University, Coinbase,
Pantera Capital, the Google Chairman, and others. Brilliant minds,
strong believers. This decade has just begun, but Alchemy has
already led the blockchain into a level of development only a few
had even dreamt of. 10 years from now the advantages of investments
like this one will most likely be part of everyone’s life.
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