Consensys advances its Web3 plans with SMG acquisition

Consensys is buying Particular Mechanism Group (SMG).

The monetary particulars of the deal weren’t publicly disclosed. As a part of the acquisition, Consensys mentioned that it plans to soak up SMG’s operations.

SMG is a “a mechanism design firm identified for its analysis centered on blockchain microstructure,” Consensys mentioned in a weblog publish. Consensys plans to make use of the corporate to “make Web3 accessible for all.”

Jason Linehan, former CEO of SMG, will now be the director of Particular Mechanisms Group at Consensys.

“Decentralized networks are the long run. By becoming a member of SMG’s experience with the unbelievable merchandise and scale of Consensys, we are going to make that future occur lots quicker,” Linehan mentioned.

The SMG deal represents the third acquisition Consensys has made since 2022, in keeping with the weblog publish.

In February, Consensys acquired Hal, a platform that enables for customers to create buying and selling, and governance voting, amongst others, and goes by way of blockchain information.

Final month, Consensys introduced Metamask Snaps, permitting for additional customization of MetaMask wallets. Solflare’s Solana pockets, on Sept. 12 introduced its launch on Snaps.

The hope is to broaden the framework, permitting for a decentralized neighborhood to each vet and approve new Snaps. As of final month, there have been 34 Snaps out there.