thirdweb completes a $24 million funding round

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Popular provider technology platform for building NFT and Web3 apps, thirdweb has completed a $24 million funding in its Series A round. The firm confirmed the development in a press release on its official handle on Thursday. The funding round was led by Coinbase Ventures, Shopify, Polygon, and Haun Ventures.

According to thirdweb, it intends to harness the funds to hasten the development of its platform. According to the technology firm, this will go a long way in complementing the growing demands and supports for more blockchain projects. thirdweb says the platform development will further bring about the patronage of thousands of new institutions, individuals, and creators, thereby enhancing its user base and fostering the adoption rate of web3.0.

The technology firm commenced operations last year with a maiden seed funding round, amounting to about $5 million. As reported, scores of angel investors, including Gary Vaynerchuck and Mark Cuban, participated in the round. Now, thirdweb says it plans to build and sustain the infrastructure layer for Web3.0. 

It usually strengthens subscribers to activate the whole heap of Web3 development kits. According to the firm, this helps remarkably reduce the time and cost necessary to build and unveil their respective applications. Also, thirdweb noted that it is now aiding the initiation of every web3 project on numerous blockchains, including blockchain games, NFT drops, DAOs, token gated membership clubs, and a host of others.

Steven Bartlett, the co-founder of thirdweb, maintained that the rapid growth enjoyed by the platform is due to its commitment to bridging accessibility to powerful Web3 tools, particularly in a fragmented sphere. The co-founder is optimistic that the firm will harness its latest funding to concentrate on adding value and verticals to users’ experiences. 

Additionally, Bartlett sees web3.0 as the most significant “technological shift” he has ever witnessed. He further said that they “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.”

Another co-founder of thirdweb, Furqan Rydan, also reacted to the development. Rydan noted that he “built internet companies in Web1 and Web2, and I’m seeing the same patterns in web3, which suggest this is going to transform the internet as we know it.” 

He revealed that thirdweb intends to initiate a remarkable infrastructure layer for web3. This, according to him, will give creators the necessary features to explore the potential associated with blockchain technology. The co-founder expressed his team’s delight in completing this funding round and reaffirmed the firm’s commitment to expanding its vision to “onboard the next 10 million developers onto web3.”

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