The blockchain software producer is planning to spin out most of its incubator startups as its Consensys Labs unit refocuses on direct investments.
US-based blockchain software provider Consensys is preparing to spin out the majority of startups in its incubator as part of a company-wide cost-cutting drive, The Verge has reported.
Consensys is beginning to spin out a portfolio of blockchain projects it has amassed through its internal incubator, Consensys Labs, a source familiar with the matter told The Verge. The move will involve the unit ceasing to be an incubator for startups, instead functioning as a more traditional investor.
The company intends…
