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”

article-image

Nansen CEO Alex Svanevik | Photo by Mike Lawrence

share

key takeaways

  • 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.

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.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

AERODROME TEMPLATE.png

Research

Aerodrome is a "MetaDEX" that combines elements of various DEX primitives such as Uniswap V2 and V3, Curve, Convex, and Votium. Since its launch on Base, it has become the largest protocol by TVL with more than $495M in value locked, doubling Uniswap's Base deployment.

article-image

PayPal has unequivocally made a name for itself as a crypto adopter among fintech giants

article-image

Also, a look into how the highly-debated SAB 121 could end up shaking out for crypto custodians

article-image

Vance, an Ohio Republican, is largely seen as crypto-friendly

article-image

Plus, all the world is green as prices across the crypto space rally, with solana reaching a nearly two-week high

article-image

Investors add to crypto positions after “turnaround in sentiment due to lower-than-expected CPI,” CoinShares research head says

article-image

Plus, Ethereum is in the midst of a vibecession