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Alchemy, the start-up powering Adobe's NFT effort, sees valuation skyrocket as digital collectibles go mainstream
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cnbc.comStart-up Alchemy is benefiting as more companies try to future-proof their businesses by adapting their technologies to the blockchain and through digital collectibles.
The San Francisco-based company announced a $250 million funding round on Thursday, boosting its valuation to $3.5 billion. The Series C financing, led by Andreessen Horowitz, marks a sevenfold increase in Alchemy's valuation from April.
Alchemy acts as a middleman between blockchain, the technology made famous by bitcoin, and apps that consumers might use on their phones. Its platform lets developers build applications on top of blockchains such as Ethereum.
Those behind-the-scenes building blocks have been used to create Dapper Labs, the maker of CryptoKitties, NBA Top
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