Alchemy, the unsung hero of NFT infrastructure has raised a mighty $200 million in its latest round of venture capital funding. As a result, the NFT powerhouse now boasts a revised valuation of a staggering $10.2 billion.
The core funding was raised through the combined forces of Lightspeed Venture Partners and Silver Lake, demonstrating a massive showing of faith in the NFT industry as a whole. Alchemy has pledged to use the money to secure the future of the platform, not just for the coming year, but for many years to come.
For those out of the loop, Alchemy is the workhorse that labours in the background, powering huge swathes of NFT infrastructure and providing the framework and programming tools for virtually every major platform in the NFT space. To name but a few, Alchemy currently underpins OpenSea, Axie Infinity, Dapper Labs, Sushiswap, Aave, and many many more.
Growing from humble beginnings, Alchemy arrived on the blockchain scene back in 2017. A time when dev tools were primitive and resources scarce. So, grabbing the bull by the horns, Alchemy set about rectifying the situation, consequently creating the building blocks for today’s industry. Now, almost five years later, it plays a critical role in the crypto sector.