The blockchain analytics company Flipside Crypto has released an online software development kit called ShroomDK, which is based on non-fungible tokens (NFTfor its acronym in English) and provides an automated means of extracting “whole” data from blockchains via software. Being based on NFT allows the SDK to be more easily sold or updated, according to the company.
Co-founder Jim Myers said that the ability to query blockchain data from multiple chains in an automated (programmatic) way has been a “critical missing piece of infrastructure for blockchain developers and analysts”.
Software-as-a-Service, or SaaS, refers to software delivered over the web instead of locally on the machines. An SDK generally refers to a software construction toolkit for creating applications for specific devices or operating systems. Flipside Crypto’s tokenized SaaS SDKs allow users to resell access to the purchased software development kit once they are done using it.
ShroomDK SDKs will allow developers to query data from Ethereum, BNB Chain, Avalanche, Solana, Near, Flow, THORChain and Algorandwhile layer 2 solutions like Optimism and Arbitrum have also been named.
Speaking to Cointelegraph, the co-founder and CEO of FlipSide Crypto, Dave Balter stated that NFTs will save users the hassle of having to “manage nodes, complex data pipelines, or petabyte-scale databases.”while offering users the opportunity to extract more value from their software licenses:
“Wrapping access to the SDK in an NFT gives the user control over their license. Software licenses are typically a sunk cost, meaning if the purchased license is not used, it goes to waste. That’s not good for the user.” nor for the supplier of the product”.
“By transforming the license into an NFT, the remaining usage can be resold to anyone. This benefits both the original owner, who can turn a sunk cost into something of value, and new users, who can try a product at a discount.“, he added.
NFTs can also be enhanced by additional free NFTs called “Spores”which allow users to increase their query capacity.
Balter stated that NFTs have already been issued in a closed beta test over the past month, with the project seeing significant demand from 50 key analysts and organizations in the cryptocurrency space.such as “people from Rabbithole, Optimism, DAOcall, 0x etc.”
Commenting on the notion that NFTs are tied to specific use cases rather than being a mere speculative asset, Balter emphasized that the usefulness of the project is especially important given the current bear market.
“The crypto winter has put pressure on all blockchains to grow and retain developers and users. The usefulness of the project is paramount, but it requires ongoing knowledge for builders to get it right. That’s why ShroomDK is needed now.”
Flipside Crypto is known for enabling on-demand analytics for blockchains, providing data and intelligence to crypto organizations. Lit states provides a free and open data platform for “analysts to learn, collaborate and compete to solve analytics challenges through structured rewards programs”.
The release of the SDK follows a recent series A funding round led by Republic Capital with the support from major crypto firms like Galaxy Digital Ventures and Dapper Labs in Aprilwhich saw Flipside Crypto raise $50 million in funding.
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