Foundry to Buy Web 3 Company Upstate Interactive to Expand Blockchain Services

Foundry is a subsidiary of Digital Currency Group, parent company of CoinDesk.

Upstate Interactive builds distributed applications and smart contracts on Ethereum, supporting DeFi, NFTs, DAOs, and diverse software projects for the modern enterprise, according to a statement. The Upstate Interactive team will be integrated across Foundry's multiple business lines and will help with various products and services related to the infrastructure layer of digital assets to institutions.

“The passion and skills of everyone on Upstate Interactive’s team complement those that we have at Foundry,” said Mike Colyer, CEO of Foundry. “This acquisition will build on our mission to shape the future of decentralization from right here in Upstate New York,” he added. The deal came about after Upstate helped Foundry develop its UI/UX development for its staking service. “Through collaborating on the staking site and portal, both companies discovered that working together and combining expertise would unlock the potential to empower a decentralized infrastructure on a much larger scale,” according to the statement.

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