Decrypt, a media business that is encroaching crypto and the decentralized web, has raised $10 million in funding as it spins out from ConsenSys Mesh, a blockchain accelerator.
Decrypt has a production arm Decrypt Studios, a web 3 company specializing in metaverse activations. Decrypt raises the money round after a $50 million post-money valuation.
In keeping with Decrypts'' commitment 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 founded Decrypt, which was launched in the ConsenSys Mesh incubator program, in order to help 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 published as editor-in-chief, and Jeff John Roberts (Fortune) was the executive editor, as well as journalists from ABC News and The Street.
Alanna Roazzi-Laforet, a veteran media and technology director and publisher of Decrypt Studios, was launched by Decrypt Studios, a new genre of Web3 studio that combines with brands and artists to create NFT and metaverse activations.
Decrypt''s first three years were foundational, and ConsenSys Mesh provided us with all the support we needed to be successful without the pressures of becoming investor-backed. Despite these early successes, Decrypt became one of the most powerful crypto publications in terms of traffic and reputation. Today, we were pleased to announce that we were ready to take the next step into our independence. Our deepest thanks and appreciation to Joe Lubin, Michael Kriak, and Mesh who helped to ensure this venture into a new publication on
A group of two dozen investors organized the $10 million fundraise, mainly 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 strategic individuals.
Decrypt Studios was constructing a production line that will allow brands and advertisers to leverage Web3, while also enabling consumers to experience more immersive and authentic experiences with their favorite brands. In a statement, Roazzi-Laforet said, "This is the way of doing this by utilizing the next generation of storytelling technologies, like NFTs and virtual worlds in the metaverse, to develop content that will extend beyond traditional media. Decrypt Studios is primed for long-term success with an exceptional accelerator partner in Mesh and
Decrypt intends to invest in ongoing editorial and live video development at Decrypt Media, and will continue to build out Decrypt Studios, which has been successful with branded non-fungible tokens (NFTs) and metaverse activations for clients in October. PubDAO, the decentralized newswire Decrypt, which was developed in October as a way to entice news reports, press releases, and other crypto work in a truly Web3-native fashion.
According to Decrypts Roberts, crypto has gone so far throughout the past few years, and it can be overwhelming for people. Today, we can continue to provide excellent and clear written for all of our users, with our spinout and new independence. We can now continue to offer excellent Web3 journalism and strengthen our video interviews, high-level podcasts, and popular live events.