Web3 developer platform Alchemy has acquired HeyMint, a California-based non-fungible token (NFT) launchpad

The undisclosed funding deal will see HeyMint's infrastructure embedded within Alchemy as it seeks to simplify user onboarding for Web3 applications

Web3 developer platform Alchemy has acquired California-based non-fungible token (NFT) launchpad HeyMint in a move designed to enhance the company’s smart wallet infrastructure.

The undisclosed funding deal will see HeyMint’s infrastructure embedded within Alchemy as it seeks to simplify user onboarding for Web3 applications, the company disclosed on May 23. HeyMint’s co-founder and chief technology officer, Flor Ronsmans De Vry, joins Alchemy as part of the deal.

While not a household name in crypto, HeyMint attracted more than 1 million users over its first two years of operations. It was the launchpad behind $38 million in NFT sales and supported the Web3 efforts of major brands, including The Sandbox, Universal Music Group and Ubisoft.

In 2023, HeyMint facilitated NFT sales for the Partnership for Central America, a private sector coalition that included Mastercard.

The HeyMint acquisition is Alchemy’s second funding deal this month. The company recently acquired Dexter Lab, a real-time data infrastructure provider for Solana, for an undisclosed amount.

Related: VC Roundup: 8-figure funding deals suggest crypto bull market far from over

Crypto mergers, acquisitions are heating up

2025 is shaping up to be a more active year for crypto mergers and acquisitions (M&As), especially in the United States, where regulatory clarity and a pro-industry administration are encouraging dealmaking.

There has been a flurry of high-profile deals in recent weeks, including Robinhood’s acquisition of Canadian digital asset operator WonderFi for $179 million and Coinbase’s $2.9 billion acquisition of Deribit. Coinbase CEO Brian Armstrong said his crypto exchange is eyeing more M&A opportunities.

One of the biggest acquisitions was completed in April when Ripple purchased prime brokerage Hidden Road for $1.25 billion — a deal the payments company said would expand its horizons within institutional finance.

Beyond M&As, crypto venture capital funding has also been on the rise. PitchBook data revealed that, while the number of deals declined last quarter, the value of investments more than doubled compared to a year earlier.