Major Ethereum blockchain analytics platform Nansen continues to expand its operations with the acquisition of a cross-chain decentralized finance (DeFi) tracker.
Nansen has acquired multi-chain portfolio tracker Ape Board in an eight-figure dealthe firm announced to Cointelegraph on May 17.
The acquisition, which will close at the end of May, will unite the teams from the two platforms, with the goal of combining Nansen’s analytics and Ape Board’s portfolio tracking to offer an all-in-one reporting service.
As part of the acquisition, 13 Ape Board employees will join Nansen’s team of 120 analysts, product managers and engineers to jointly deliver the “Ultimate Web3 Information Super Application.”
“Ape Board will become the starting point for a new portfolio tracker from Nansen. It will be free to use and integrate seamlessly with the rest of Nansen’s features,” a Nansen spokesperson told Cointelegraph.
Founded in 2019, Nansen is named after scientist and explorer Fridtjof Nansen as the platform focuses on providing data and analytics on the Ethereum blockchain. The platform is backed by some prominent industry investors like Andreessen Horowitz and Coinbase Ventures. In 2021, Nansen has raised $12 million in a series A funding round to build a blockchain analytics platform for the DeFi sector.
Ape Board was a perfect match for Nansen to pursue his DeFi ambitions. Launched in 2021, Ape Board is designed to provide an aggregator that brings all DeFi investments together on one platform. The platform supports 36 blockchains, including Ethereum, Binance Smart Chain, Terra, Solana, Binance Exchange, and Polygon, as well as 390 protocols.
With the new acquisition, Nansen aims to pave the way to become the super information app for Web3, a company spokesperson said, adding:
“The next 12-18 months will likely mark a period of consolidation for cryptocurrencies. Nansen has a strong war chest, and we plan to remain aggressive with our growth and build an unmatched market intelligence platform all in one.”
“Getting data from the cryptocurrency ecosystem, specifically DeFi protocols and blockchains, is complex and fragmented,” said Nansen CEO Alex Svanevik. “With this acquisition, we take a big step in bringing together all the market intelligence a trader, institution or company needs under one roof,” he added.
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