The AWS of the crypto space? Alchemy tops $10 billion valuation
And they did this in less than 2 years of the company founding 🤯
Is this the AWS of the crypto space?
Just today, Alchemy tops $10 billion valuation. And they did this in around 1.5 years of its founding. 🤯 So what makes this company so special? Investors see Alchemy as potentially becoming the Amazon Web Service (AWS) of the crypto space- instead of mining gold, it is selling shovels. They focus on making it easier for developers to build blockchain products, which in turn facilitates better product development in the nerd’s circle of life.
What does Alchemy exactly help developers with?
If terms like load balancing and data correctness sound unfamiliar to you, just picture yourself having to order food from a catering service for a networking event. You don’t care about how the food is prepared, or how many chefs are in the kitchen cooking. All you care about is that your caterer provides the food at a certain timing and location. You want to focus your energy on serving your guests and ensuring they have a great experience at the networking event. Likewise, developers may not want to know the specifics of the servers that users connect to- instead, they prefer to focus their attention on building the most bad-ass applications.
Alchemy is actually everywhere in real life 😉
Similar to how AWS supports Netflix, Uber and Doordash, Alchemy supports these companies:
Opensea. ICYMI, the world’s largest NFT platform saw more than $5 billion of transaction volume in January 2022.
Axie Infinity. Probably the most popular play-to-earn game to date, Axie Infinity boasts 2.8 million daily active users. (Compare this to the #1 MMORPG in the world, World of Warcraft, which has 1.1 million daily active players.)
0x protocol. Provides decentralized exchange infrastructure across a variety of blockchains including Ethereum, Polygon and Avalanche.
It’s clear that there’s magic in building pipes for the crypto space- not only is it highly lucrative, better products are produced. ⚗️
Good summary about Alchemy. Easy to understand. Thank you