Jay Z and Will Smith invests in blockchain platform Alchemy. Blockchain development platform Alchemy reports that its platform is used by 70 percent of the top Ethereum startups out there, including about 60 percent of the assets actually locked up in decentralized finance (DeFi) contracts.
For teams who worked closely with the company, Alchemy was previously only available in a closed beta, but the launch today means that everyone can access the same platform and start developing the framework behind their own blockchain apps.
Alchemy co-founder and CTO Joe Lau said “Alchemy was designed over years of deep collaboration with over a hundred core teams in the space, including leading teams like 0x, Kyber, Augur, Maker, CryptoKitties, and many more,” Lau explained. “Because we power some of the largest and most sophisticated production applications today, we’ve been able to architect the platform to solve the most challenging problems at every stage of development up through production applications at scale.”
Alchemy already has large supporters, in addition to big blockchain companies using its technology. The startup raised last year’s $15 million Series A round, and has a remarkably diverse roster of backers that includes everyone from PayPal founder Peter Thiel and investor Charles Schwab himself to rapper Jay Z, actor Will Smith, and Japanese soccer pro Keisuke Honda.
Alchemy’s tools are currently live on Ethereum, Bitcoin, and Litecoin, with plans to add support for Libra, Polkadot, Dfinity, Cosmos, and Tezos.