ConsenSys gears up for expansion after $200M funding
ConsenSys, a blockchain solutions provider, is planning to expand its empire and intends to hire 400 employees, spending $400 million on the task. The Ethereum builder is now valued at $3.2 billion and is ready to enter the "war of talent" to stay competitive on the ETH front.
ConsenSys continues to amplify growth
ConsenSys is also dominating the Ethereum ecosystem with millions of users of its products. The firm has built the highly popular MetaMask wallet and manages the API suites Infura and Truffle, used in smart contract composition.Following Ethereum's humongous growth and adoption this year, all the three products managed by ConsenSys have seen a widespread increase in adoption. As per a tweet, MetaMask has already crossed more than 21 million users, followed by 350,000 developers on Infura. Truffle was acquired by the Ethereum backer in November 2020 and has already crossed 4.7 million users.
According to the Chief Strategy Officer Simon Morris, MetaMask and Infura are "innovation engines" which is responsible for the constant dominant presence of ConsenSys on the Ethereum network.
"We don't have to sit here and say what's the next big DeFi thing or what's the next big NFT thing, we're there for all of it," added Morris in his statement.In order to accelerate the growth of ConsenSys and widen its grasp on the DeFi industry, the firm raised a whopping $200 million from investors, including HSBC and U.S. hedge fund Third Point.
"ConsenSys' MetaMask wallet and other tools offer a unique platform for consumers, enterprises, and developers to engage, build, and create on the decentralized web," said the CEO of Third Point.In a statement with CoinDesk, Morris commented on MetaMask's success and the technological prowess of ConsenSys behind it. The wallet has already processed more than $10 billion in transactions.
"When people submit transactions, we can intervene and make minor tweaks to make it more likely to succeed," Morris explained. "We know from the point that you press the 'go' button that we can get done what you want to get done."
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