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In today’s frothy crypto environment, where nine-figure venture capital rounds seem to be handed out to startups like foam fingers at a football game, it can be easy for a casual observer to assume that all participants are blindly following FOMO-driven over-exuberance.
However, there is significantly more going on below the surface.
Now $3.5 billion blockchain infrastructure company Alchemy, which offers easy-to-use software for developers to write crypto applications and is perhaps the market leader in the race to become the Amazon Web Services of crypto, is throwing its proverbial hat into the ring.
Revealed exclusively to Forbes, today the company, which powers virtually the entire NFT industry and processes $45 billion worth of transactions on an annualized basis, is launching its own venture capital fund to invest in current clients named Alchemy Ventures. Much like Coinbase Ventures, Alchemy’s primary motivation is bootstrapping the industry, rather than receiving 100x returns through an exit such as an IPO 5-7 years from now.
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