Alchemy, a web3 infrastructure platform backed by the likes of a16z, Coatue and Lightspeed Ventures, has announced its first acquisition, acquiring Ethereum developer education platform ChainShot.
ChainShot offers live and instructor-led Ethereum developer boot camps, according to a statement shared with The Block Thursday. The deal will allow Alchemy to build upon its education offerings which include its Web3 University.
"As for next steps, our goal is to make the integration of ChainShot’s programs and ours as smooth and seamless for students as possible," said the statement. "We’re still ironing out how the pieces will come together, but one thing is certain: all of ChainShot’s course content that previously cost upwards of $3,000 will be 100% free."
Founded in 2017 by Nikil Viswanathan and Joe Lau, Alchemy's business model relies on offering application programming interfaces, or APIs, to companies looking to build out their blockchain services. These include APIs for node infrastructure, transaction history and NFT functionality among other use cases.
APIs allow businesses to more simply access each others' systems and Alchemy's have been used historically by crypto-native firms such as OpenSea, Dapper Labs, and Axie Infinity. Recently it has onboarded newcomers to the crypto space such as Meta, Shopify and Adobe as interest in web3 swelled. In the last few months, it's added Solana and Polkadot integration, amplifying its plethora of compatible blockchains.
Despite the recent gyrations, crypto M&A deals continue to be on pace for a record year, according to a Q2 report from The Block Research.
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