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Nansen Continues Scaling Its Operations By Acquiring Cross-Chain DeFi Tracker

Nansen, the major Ethereum blockchain analytics platform, has continued scaling its operations by acquiring a cross-chain decentralized finance (DeFi) tracker.

It has been reported that Nansen has acquired the multi-chain portfolio tracker Ape Board in an eight-figure deal. Closing later in May, the acquisition will unite the teams of the two platforms, aiming to combine Nansen’s analytics and Ape Board’s portfolio tracking to provide an all-in-one information service.

However, as part of the acquisition, 13 employees at Ape Board will join Nansen’s team counting 120 analysts, product managers, and engineers to jointly provide the “definitive information super-app of Web3.”

A spokesperson for Nansen said:

“Ape Board will become the starting point of a new Nansen Portfolio tracker. It’ll be free to use, and will integrate seamlessly with the rest of Nansen’s features.”

The report said that founded in 2019, Nansen was named after scientist and explorer Fridtjof Nansen as the platform is focused on providing data and analysis about the Ethereum blockchain. The platform is backed by some prominent industry investors like Andreessen Horowitz and Coinbase Ventures. In 2021, Nansen raised $12 million in a Series A funding round to build a blockchain analytics platform for the DeFi sector.

Likewise, Ape Board was a perfect match for Nansen to aspire to its DeFi ambitions. Launched in 2021, Ape Board is designed to provide an aggregator pulling together all DeFi investments into one platform. The platform supports 36 blockchains including Ethereum (ETH), BNB Smart Chain (BNB), Terra (LUNA), Solana (SOL), Binance Exchange, and Polygon (MATIC) as well as 390 protocols.

The spokesperson added:

“The next 12–18 months will likely mark a consolidation period for crypto. Nansen has a strong war chest, and we plan to continue being aggressive with our growth and build an unrivaled, all-in-one market intelligence platform.”

Thus, Alex Svanevik , the CEO of Nansen, said:

“Obtaining data from the cryptocurrency ecosystem, specifically, DeFi protocols and blockchains is complex and fragmented. With this acquisition, we take a big step towards bringing all the market intelligence a trader, institution or business needs under one roof.”

Source: Cointelegraph


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