Nansen Acquires DeFi Portfolio Tracker To Boost Web3 Capabilities

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  • 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.


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  • Ben Strack
    Ben Strack is a Den­ver-based reporter cov­er­ing macro and cryp­to-native funds, finan­cial advi­sors, struc­tured prod­ucts, and the inte­gra­tion of dig­i­tal assets and decen­tral­ized finance (DeFi) into tra­di­tion­al finance. Pri­or to join­ing Block­works, he cov­ered the asset man­age­ment indus­try for Fund Intel­li­gence and was a reporter and edi­tor for var­i­ous local news­pa­pers on Long Island. He grad­u­at­ed from the Uni­ver­si­ty of Mary­land with a degree in journalism.

    Con­tact Ben via email at [email pro­tect­ed]

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