Key takeaways:
- ConsenSys’ flagship wallet offering MetaMask surpassed 30 million MAUs roughly a year after it first broke the 5 million users milestone last April
- The growth in the number of users is linked to the popularity of DeFi and Web3 applications
- ConsenSys hit $7 billion valuation on the heels of the recently concluded $450 million Series D
ConsenSys CEO Joseph Lubin confirms a MetaMask-oriented DAO is in the pipeline
Digital wallet MetaMask, one of the most popular gateways to the world of decentralized finance (DeFi) and Web3, has reportedly surpassed the 30 million monthly active users (MAUs) milestone. The growth of ConsenSys’ flagship crypto wallet offering can not be overstated – in the last four months, its user base increased by more than 40%. For further context, the wallet had just 5 million users last April.
The massive surge in the number of users reflects the broader market trend of users gravitating to various DeFi and Web3 applications. MetaMask provides one of the easiest and most reliable ways of accessing decentralized services running on Ethereum and other EVM-compatible chains. ConsenSys CEO Joseph Lubin expanded on this premise in a recent statement:
“I think of ConsenSys as a broad and deep capabilities machine for the decentralized protocols ecosystem, able to rapidly capitalize at scale on fundamental new constructs that emerge, such as developer tooling, tokenization, token launches, wallets, security audits, DeFi (1.0, 2.0 and beyond), NFTs, bridges, Layer-2 scaling, DAOs, and more.”
Institutional investors are apparently placing a premium on a highly integrated gateway to various NFT and DeFi ecosystems. According to Tuesday’s press release, ConsenSys raised $450 million in the recently concluded Series D funding round, its largest financing round to date. The round saw participation from some of the most prominent VCs and tech companies, including ParaFi Capital, Softbank, Microsoft, and Temasek.
The newly acquired capital will go towards the hiring of 600 new team members and optimization of its services across desktop, mobile, and browser products. In addition, the company is reportedly working on a “major redesign” which will go live later this year. ConsenSys will also be launching a decentralized autonomous organization (DAO), which will decentralize and democratize access to capital and make it easier to fund new MetaMask features.
