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4.58%Smart-Contract Registry Cookbook Raises $2M to Create Web3 Developer Support Tools
The company will use the money to educate Web3 developers and supply them with tools to streamline their work.
Updated May 11, 2023, 5:03 p.m. Published May 11, 2023, 5:03 p.m.
Smart-contract registry Cookbook has raised $2 million to supercharge its efforts to support developers’ Web3 projects, according to a Thursday press release.
The funding round included participation from MaC Venture Capital, Tagus Capital, Superscrypt and Alchemy. It will support Cookbook’s mission to streamline developers’ work to build out Web3 and reduce development costs for hundreds of companies, the company says.
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"With this investment, we're excited to continue building the most comprehensive platform for web3 developers, aggregating everything they need to launch their production apps," Cookbook CEO Tyler Sehr said in a press release.
The funds will also contribute to the platform’s initiatives to co-create free educational content for Web3 builders with developer communities.
That educational initiative will complement Cookbook’s existing offerings, including its platform which gives developers tools to sift through thousands of open-source smart contract templates and access documentation about how to operate those contracts. Those tools allow developers to secure, “battle-tested” codes that support the projects they’re building, Tagus Capital General Partner Leon Mirochnik said in a press release.
Cookbook has served more than 1,500 developers who have accessed more than 3,000 smart contracts through the platform. Its services are increasingly useful for developers as more smart contracts of varying quality flood the web, the company said.
“The increased interest in digital assets in the last 3 years has led to a chaotic upsurge in the number of smart contracts created by thousands of developer communities around the world, but the industry still lacks a robust infrastructure for finding battle-tested open-source smart contracts templates, " Mirochnik said.
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Elizabeth Napolitano
Elizabeth Napolitano was a data journalist at CoinDesk, where she reported on topics such as decentralized finance, centralized cryptocurrency exchanges, altcoins, and Web3. She has covered technology and business for NBC News and CBS News. In 2022, she received an ACP national award for breaking news reporting.
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