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The new startups have raised millions of dollars, which again might sound like chump change from a crypto perspective, but was “unthinkable until about a year ago,” said Tim Galebach, founder of Uqbar Network, one of the newer players on the scene. The number of developers in the ecosystem is now in the “low hundreds,” Galebach estimated, up from dozens a year ago and “less than a dozen, if that” in mid-2020.
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