Nansen Acquires DeFi Portfolio Tracker To Boost Web3 Capabilities

Blockchain data analytics platform does deal in attempt to offer the “information super-app of web3”

May 17, 2022 02:30 pm

Nansen CEO Alex Svanevik | Photo by Mike Lawrence

Ape Board lets users track their yield-farming assets across blockchain networks
Nansen said it was looking to acquire following its $75 million Series B funding round in December

Blockchain data analytics platform Nansen has acquired DeFi portfolio tracker Ape Board to bolster its Web3 data capabilities.

The acquisition, revealed Tuesday at Blockworks’ Permissionless conference, closed earlier this month. Terms of the deal were not disclosed.

Nansen — which began building its platform in 2019 to help users know more about the wallets that are transacting on-chain — combines on-chain data with a growing database of millions of wallet labels.

Newsletter

Subscribe to The Breakdown

Founded last year, Ape Board lists nearly 400 protocols across 33 blockchains and one exchange. Its cross-chain decentralized finance (DeFi) dashboard lets users track their yield-farming assets in each network and automatically calculate their net worth.

The acquisition will help Nansen become the “definitive information super-app of web3,” the company said in a news release. It will also spur the future launch of features, such as portfolio tracking, programmatic access to on-chain data and Web3-native communication.

Nansen CEO Alex Svanevik said obtaining data from DeFi protocols and blockchain is complex and fragmented.

“Across the Web3 landscape, investors are forced to utilize an assortment of different tools in order to obtain a singular piece of data that will help inform their investment strategy,” Svanevik said in a statement. “With this acquisition, we take a big step towards bringing all the market intelligence a trader, institution or business needs under one roof.”

The acquisition follows Nansen’s $75 million Series B funding round in December, which was led by Accel, GIC, a16z, Tiger Global, SCB and 10X. The firm raised $12 million for its Series A in June.

Svanevik said after the more recent fundraise it would hire more team members and look to do strategic acquisitions. The CEO added that the company would spend 2022 focusing on offering institutional clients access to its on-chain data programmatically.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2026

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Shaunda Devens