Blockdaemon Nets $207M on $3.25B Valuation

According to a report, Blockdaemon, a blockchain infrastructure company, has a post-money valuation of $3.25 billion. This follows a $207 million Series C funding deal headed by Sapphire and Tiger Global.

Blockdaemon’s services offer back-end support for a variety of blockchains. It offers node operations and staking-as-a-service, among other services.

Crypto companies are still being valued at billions of dollars – crypto exchange FTX revealed an $8 billion valuation following a $400 million fundraising round.

It’s a hint, according to Sapphire’s Jai Das, that the “digital asset class is here to stay,” especially as publicly-traded corporations and financial services organizations become involved.

Das stated that certain things, such as a secure infrastructure support, were still required for “compliant and scalable participation in Web3/DeFi.”

Blockdaemon is one of the backend platforms that has underpinned much of the crypto ecosystem, with firms like Infura and Alchemy – Infura is a frequently-cited requirement in the Ethereum venture studio, while Alchemy had a $3.5 billion valuation in October.