San Francisco-based blockchain company, ThirdWeb, has raised $24 million from leading industry investors such as Haun Ventures and Coinbase. The Series A funding brings the firm’s valuation to $160 million.
ThirdWeb is a platform that provides developers and creators with the necessary tools to build various blockchain-related services to develop the Web 3 ecosystem. These services include blockchain games, non-fungible token (NFT) drops, digital marketplaces, and others.
Steven Bartlett, the co-founder of ThirdWeb, said:
“We built ThirdWeb to give the builders that are creating this next iteration of the internet the tools they need to be successful, and when they are successful, the world as we know it will be remarkably different – remarkably better.”
Haun Ventures and Coinbase Invest in ThirdWeb
The funding round was led by investment firm Haun Ventures. Other companies that joined the funding round included crypto exchange Coinbase and e-commerce company Shopify, among others.
ThirdWeb stated that the fund will be used for the development of its platform to meet the increasing demand of its users, which currently sits at 55,000 users. The company also plans to onboard “the next 10 million developers into Web 3.”
ThirdWeb to Expand to Other Networks
The firm also noted that the fund will be used in its extension to more blockchain networks. Currently, the company utilizes six different networks, as revealed on its homepage. These networks are Ethereum, Polygon, Avalanche, Arbitrum, Fantom, and Optimism. The homepage further reveals that the platform will soon implement more blockchains like Solana and Flow.
Katie Haun, the founder of Haun Ventures, applauded the efforts of the ThirdWeb founders when commenting on the funding round.
“Our mission is to accelerate the next generation of the internet and we believe ThirdWeb will play a critical role in realizing that. [. . .] I’m pleased to see proven founders of this caliber dedicating their next chapter to crypto and look forward to supporting their efforts,” she said.
ThirdWeb further noted that it has partnered with the Coinbase NFT marketplace to “provide artists with secure, creator-owned smart contracts.”
Meanwhile, ThirdWeb isn’t the only company that has invested in the development of the Web 3 ecosystem. Last month, investment company Variant raised $450 million, which it used in investing in the Web 3 ecosystem and decentralized finance (DeFi) projects.
Source: https://coinfomania.com/blockchain-firm-thirdweb-raises-24m/