Blockchain Foundry Inc. (CSE: BCFN)
Develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to leverage blockchain technology in their businesses.
The crypto sector has entered a bear market over the past months and investors have been left wondering what is the future of this nascent industry. Blockchain technology, the foundation of cryptocurrency, however, has continued developing itself for many useful applications and numerous companies have continued to succeed despite the overall market sentiment for cryptocurrencies.
Let’s take a look at who these companies are and what they are doing!
Based in San Francisco, California, Alchemy’s technology has been instrumental in the explosion of NFTs. Between October of last year and February 2022, the volume of transactions that use Alchemy’s chain grew from USD$45 billion to USD$105 billion.
Compared to Amazon Web Services, Alchemy’s cryptocurrency infrastructure software organizes blockchain data. The largest NFT marketplace, OpenSea, uses Alchemy. Other major customers include Adobe, DraftKings and Shopify.
The company had funding of $413 million from Andreessen Horowitz, Silver Lake, Lightspeed Venture Partners and others and now, boasts the latest valuation of $10.2 billion
Based in New York, New York, Fireblocks is an institutionally-focused crypto custodian servicing BNY Mellon and popular decentralized finance applications Compound Treasury and Aave Arc.
The company grew from 100 clients in January 2021 to more than 1,200 at the time of the writing of this article. Transfers over $260 billion worth of assets per month.In April 2022, Fireblocks partnered with payments giant FIS to provide its more than 6,000 capital markets clients access to crypto trading and lending services.
The company had funding of $1.2 billion from BNY Mellon, Coatue, Ribbit and others and its latest valuation is $8 billion.
Based in New York, New York, OpenSea is the largest NFT marketplace that has been processing about $3 billion in NFT transactions monthly, earning approximately $75 million in monthly revenue.
OpenSea was an early player in the NFT market that took off in 2021. It operates as a peer-to-peer platform where users can create, buy and sell all sorts of NFTs—in exchange for a 2.5% cut of each sale. Although the marketplace has heightened competition, including from crypto giant Coinbase, which launched its own NFT marketplace in May, it continues to dominate the NFT market with more than 1.5 million accounts having transacted on the platform.
The company had funding of $423 million from Andreessen Horowitz, Paradigm, Haun Ventures and others, and in its latest valuation, is worth $13.3 billion.
Based in New York, New York, Chainanalysis’s government and institution focused data platform has increased its customer base by 75% and now has more than 750 clients in 70 countries.
The firm’s data platform has been used to solve some of the world’s highest-profile criminal cases involving digital assets, including the seizure of $3.5 billion of crypto by the Internal Revenue Service’s Criminal Investigation unit, announced in November, and the Colonial Pipeline Ransomware Attack. Chainalysis now screens $1 trillion in transaction value each month across all cryptocurrency assets.
The company had funding of $535 million from Coatue, Paradigm, Accel and others and its latest valuation was $8.6 billion.
Based in Toronto, Canada, Blockchain Foundry (CSE: BCFN) is the only publicly listed company on this list, has launched 5 new blockchain related products over the past year and continues to service institutional clients in developing their own blockchain functionality.
In the company’s product portfolio are:
LastKnown Marketplace – A curated, multi-chain digital asset marketplace for artists looking to develop their art into NFTs through a customizable NFT minting platform. Award-winning artist Chairman Ting became the first artist to be featured on the LastKnown Marketplace through the release of his Billions Buns collection, comprising 888 unique NFTs priced at 0.88 ether each. Public sale sold out in 48 seconds.
MetaAcademy – The world’s first earn while you learn cryptocurrency and NFT courses, users can learn how the blockchain works, how to send crypto, how to mint an NFT, and way, way more
NFT Gen – NFT GEN takes input as a series of media files and creates a configurable number of entirely unique mintable items including image assets, rarity data, and metadata json for all of the items.
Smart Contracts – Compatible with most EVM-based blockchains
Minting Microsite – Web3 compatible responsive web application allowing users to mint tokens
Custom Metadata Resolver – Stores and returns NFT metadata.
Peregrine – Peregrine’s front-end user interface enables users to create on-chain pre-transactional rulesets required for regulatory compliance, in any jurisdiction.
Peregrine connects your users to compatible Know Your Customer (KYC) verification services. Your token can easily implement Anti-Money Laundering (AML) compliance features and many other custom parameters as the regulatory compliance space evolves.
Foundry – Foundry is Blockchain Foundry’s core platform providing next-generation features safeguarding against crypto-asset theft, complying with regulations and offering stablecoins, utility tokens, NFTs and security tokens a place to call home. With built-in hardware wallet support, Foundry has something for everyone from hobbyist investors to institutional whales.
To learn more about Blockchain Foundry, click here.
Disclaimer: The company described in this article is a customer of NAI Interactive Ltd. This material is for informational purposes only and is not intended as a recommendation or offer or solicitation for the purchase or sale of any securities or financial instruments, or for transactions involving any financial instrument or trading strategy.
