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Blockchain Analytics Company Nansen Has Acquired Decentralized Finance Tracker Ape Board

Nansen, an analytics venue on Ethereum blockchain, keeps on scaling the activities thereof by obtaining a DeFi (decentralized finance) tracker that works across the chains. Nansen has attained Ape Board (a portfolio that operates on several chains) in a contract, as declared by the platform on Tuesday.

Taking place in May’s later period, the acquisition intends to create a bond between the groups of the two venues, focusing to combine the portfolio tracking of Ape Board and analytics of Nansen to offer a thorough information facility. As included in the acquisition, Ape Board’s 13 workers will enter the team of Nansen (comprising 120 engineers, product managers, and analysts) to cooperatively provide the sure-shot data regarding the Web3-based super app.

Ape Board will turn into the beginning point for a unique tracker of the Nansen portfolio. The product will be used for free, and will impeccably be integrated with the other features of Nansen, as mentioned by a Nansen spokesperson. After its establishment in 2019, the title of Nansen was inspired by Fridtjof Nansen (an explorer and scientist) as the venue is centered around the provision of analysis and data regarding the Ethereum blockchain.

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Some well-known investors throughout the industry support the platform taking into account Coinbase Ventures and Andreessen Horowitz. In the previous year, a valuation of up to $12M was mounted by Nansen in a funding round of Series A to construct a blockchain analytics forum to operate in the DeFi space. Ape Board and Nansen’s match was adequate in terms of achieving the DeFi-based objectives.

Ape Board is structured to offer an aggregator providing the entirety of DeFi-based investments in a single place. Up to 36 blockchains are supported by the venue taking into account MATIC (Polygon), Binance Exchange, SOL (Solana), LUNA (Terra), BNB (BNB Smart Chain), and ETH (Ethereum) along with 390 protocols. With the latest acquisition, Nansen expects to make a way to turn into a Web3-based super app providing go-to information, as stated by a spokesperson.

In the words of the spokesperson, the crypto consolidation period will probably be marked in the coming 12 to 18 months. The Nansen possesses a resilient war chest with a strategy to carry on being forceful with the advancement as well as the construction of an unrivaled and full-fledged venue for market intelligence.

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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