Valuations and raises in the new web3 world
The latest “unicorn” (pun intended) to capitalize on their web3 foundations has raised $165 million in a Series B round of funding; and a valuation of $1.6bn.
Sorry, what? I know we are all a bit jaded with the valuations of startups and the proliferation of new capital in the web3 space. But it wasn’t that long ago when Series B were raised with valuations far less and actual amounts raised corresponding appropriately.
Perhaps the answer to the question of why exists in the very last paragraph of this article. The DEX processing volume speaks to both active users, stickiness, market dominance, and future-proof viability. Take all these metrics into the traditional web2 space and this hardly represents a B-round company.
Web3 seems to be demonstrating staying power and opportunity for exponential growth. And I like it.