Consensys acquires Special Mechanism Group (SMG).
The financial details of the deal have not been made public. As part of the acquisition, Consensys said it plans to acquire SMG’s operations.
SMG is a “mechanism design company known for its research focused on blockchain microstructure,” Consensys said in a blog post. Consensys plans to use the company to “make Web3 accessible to everyone.”
Jason Linehan, former CEO of SMG, will now become director of Special Mechanisms Group at Consensys.
“Decentralized networks are the future. By combining SMG’s expertise with Consensys’ incredible products and scale, we will make that future happen much faster,” said Linehan.
The deal with SMG represents the third acquisition Consensys has made since 2022, the blog post said.
In February, Consensys acquired Hal, a platform that allows users to create trading and governance sentiments and process blockchain data, among other things.
Last month, Consensys announced Metamask Snaps, allowing further customization of MetaMask wallets. Solflare’s Solana wallet announced its launch on Snaps on September 12.
The hope is to expand the framework, allowing a decentralized community to vet and approve new Snaps. As of last month, 34 Snaps were available.