Decrypt receives $10 million for a public offering covering the crypto economy

Decrypt receives $10 million for a public offering covering the crypto economy ...

Decrypt, a media business qui focuses on crypto and the decentralized web, has raised $10 million in funding as it spins out of ConsenSys Mesh, a blockchain accelerator.

Decrypt has a production division Decrypt Studios, a web 3 facility specializing in metaverse activations. Decrypt has raised the funds round after a $50 million post-money valuation.

In keeping with Decrypts'' mission of progressive decentralization as it goes independent, more than 15 investors, including venture capital companies, decentralized autonomous organizations (DAOs), web 3 organizations, and angels.

During the crypto winter of 2018, Josh Quittner (Time), Ilan Hazan, and Ryan Bubinski cofounded Decrypt, which was launched in the ConsenSys Mesh incubator program, in order to aid the world understand crypto and web 3, and has since grown to 6 million daily unique visitors and 27 full-time employees.

Dan Roberts (Yahoo Finance, Fortune) was promoted as editor-in-chief, while Jeff John Roberts was promoted as executive editor by ABC News and The Street.

Alanna Roazzi, a veteran media and technology executive, has launched Decrypt Studios, a new web3 studio that integrates with brands and creators to curate NFT and metaverse activations.

ConsenSys Mesh gave us all the support we needed to build without being investor-backed, according to Quittner. These early successes lead us to the top three crypto publications in traffic and reputation. Today, we were pleased to announce that we were ready to take the next step into our independence. We are deep thanks and thanks to Joe Lubin, Michael Kriak, and Mesh who have helped to establish this venture into a newsroom on the rise.

A group of two dozen investors organized the $10 million fundraise, including Hack.VC, Hashkey Capital, Canvas Ventures, Protocol Labs, and the SK Group, as well as four DAOs (Global Coin Research DAO, Own.fund, Honey DAO, and Orange DAO) as well as a number of key individuals.

Decrypt Studios was developing a production division that will enable businesses and advertisers to harness the power of Web3, while providing consumers with an immersive and authentic experience with their loved ones. In a statement, Roazzi-Laforet said, he was sharing these narratives with a whole new perspective, leveraging the next generation of storytelling tools like NFTs and virtual worlds in the metaverse to create content that would transcend traditional media. Decrypt Studios is primed for long-term success.

Decrypt intends to invest in ongoing editorial and live video development at Decrypt Media, and will continue to build out Decrypt Studios, which is enjoying success with branded non-fungible tokens (NFTs) and metaverse activations in fashion, entertainment, and real estate. PubDAO, the decentralized newswire Decrypt, which was founded in October and is being used as a way to source stories, press releases, and other crypto work in a truly Web3-native way.

According to Decrypts Roberts, crypto has gone so mainstream in the past few years, and it can be overwhelming for people. Now, with our spinout and new independence, we can continue to offer the highest-quality Web3 journalism and support our popular live events.

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