Consensys' financing round would evaluate a crypto start-up with $ 3 billion

Consensys, a cryptocurrency start-up that benefited from the boom in decentralized financing, procurement, according to people who have been informed about the plans

Consensys based in New York developed and invested in projects based on the Ethereum Distributed Ledger, a competitor of Bitcoin that can be used to create financial services apps and other automated software programs.

Consensys announced in April that he had collected $ 65 million from JPMorgan, Mastercard, UBS and other investors. It refused to comment on the donation collection.

The financing would be an important milestone for the seven-year-old company under the direction of Ethereum co-founder Joseph Lubin, who has survived several public failure in his attempts to capitalize on blockchain technology. Lubin made a staff loss of more than 10 percent at least twice, and Consensys has been restructured last year to split his investment in a separate unit.

Investors have put money into digital assets this year, since the increasing price of Bitcoin and other cryptocurrencies developers and new users attracts in the rapidly growing but risky sector.

According to the PitchBook data, risk capital providers have invested $ 20.7 billion in cryptocurrency start-ups this year, an increase of more than 160 percent compared to the previous record in 2018.

lubin has financed Consensys with his personal stocks to ether, the digital asset associated with Ethereum, mostly.

Metamask, an app developed by Consensys, which is a popular goal for decentralized financial programs, has grown quickly because more and more people with cryptocurrencies are experimenting.

According to data from the cryptocurrency analysis site Dune Analytics, Metamask has more than 8.9 billion

since October 2020

Metamask charges a fee of 0.875 percent for every trade, which corresponds to sales of more than $ 78 million in the same period.

Consensys has predicted that the annualized income of Metamask could increase to $ 1 billion within the next year, said one person who was informed about the numbers. Metamask has more than 10 million monthly users, the company said last month.

Several other start-ups that develop apps on Ethereum have recently received high ratings from risk capital providers.

The development team behind the popular cryptocurrency-based video game axie infinity on Tuesday said it collected $ 152 million in funds under the direction of Andreessen Horowitz and the company rated $ 3 billion.

ether increased by more than 920 percent last year, compared to an increase in the Bitcoin price by more than 400 percent.