Steven Bartlett’s Web3 company announces £20m Series A round and £135m valuation

thirdweb, the technology platform for building NFT and Web3 apps, has closed a $24m (approx. £20m) in Series A funding at a $160m (£135m) valuation.

The round was led by Haun Ventures, Coinbase Ventures, Shopify and Polygon. thirdweb will use the funding to accelerate platform development to meet increasing demand, add support for additional blockchains and grow the user base by onboarding hundreds of thousands of new brands, individuals and creators, driving mainstream adoption of Web3.

Founded in 2021 by Steven Bartlett and Furqan Rydhan with a seed funding round of $5 million, from 20+ industry entrepreneurs including Gary Vaynerchuck and Mark Cuban, thirdweb is building the infrastructure layer for Web3.

The platform empowers users to unlock a full stack Web3 development kit to significantly reduce the time and cost required to build and launch applications. thirdweb facilitates the creation of Web3 apps across the most-popular blockchains, including blockchain games, NFT drops, DAOs, token gated membership clubs and more.

thirdweb’s fast-paced growth trajectory is a result of bridging access to powerful Web3 tools, in an inherently fragmented space. The funding will allow the business to focus on adding new value to the platform’s existing users as well as expand user verticals.

Steven Bartlett, co-founder of thirdweb, commented: “Web3 is the most important technological shift I’ve witnessed in my lifetime.

We 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 - remarkably better. I don’t think anybody quite realises how much Web3 is going to change the world.“

Gary Vaynerchuck, founder and CEO of Vayner/RSE who previously backed thirdweb, added: “I backed thirdweb because I believe they have the talent, tenacity and vision to create the infrastructure layer for Web3. Web3 is going to revolutionise multiple industries - thirdweb’s platform will enable that revolution.”

In just nine months, over 55,000 developers have used thirdweb’s tools to build NFT drops and other web3 applications. Over 150,000 smart contracts have been deployed across 6 different blockchains, and every week thirdweb projects generate over $1.5m in revenue.

Global brands like 100Thieves, Afterpay and New York Fashion Week are using thirdweb to power their web3 launches. thirdweb also recently announced a partnership with Coinbase’s NFT marketplace to provide the technical infrastructure for their artist’s NFT drops.

By Matthew Neville – Correspondent, Bdaily

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