Alchemy recently announced that it raised $80 million from venture capital investors in a Series B funding on Wednesday, giving the blockchain project a valuation of around $500 million. While a lot of institutional investors want to play the crypto market right now, they don’t necessarily want to bet on specific cryptocurrencies. One good way to play the general market is to invest in a “picks-and-shovels” play, as it’s otherwise known. Alchemy fits the bill, being a company that provides goods and services to the rest of the blockchain industry.
One of the lead investors behind this funding round was Coatue Management, a tech investment manager that’s also led a fundraising round for Dapper Labs, which brought in over $300 million. Dapper Labs happens to be one of Alchemy’s customers as well.
View more information: https://marketrealist.com/p/how-to-invest-in-alchemy/