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Blockchain analytics platform Nansen has acquired Ape Board, a tool that allows users to track their portfolio of investments in non-exchangeable tokens (NFT) and decentralized finance (DeFi).
According to Tuesday’s announcement, Ape Board will be the starting point of a new free portfolio tracker that will be integrated with the rest of Nansen’s features. In the coming months, Nansen will add 13 Ape Board employees to its 120-person team. Ape Board’s co-founder and CEO, Mike Fulsuxombati, will switch to managing the portfolio functionality.
The acquisition was for an eight-figure sum, a Nansen spokesman said.
“Obtaining data from the cryptocurrency ecosystem, particularly DeFi protocols and blockchains, is complex and fragmented,” Nansen CEO Alex Swanewick said in a statement. “In a web3 environment, investors are forced to use a set of different tools to get a single piece of data to help inform their investment strategy. With this acquisition, we’re taking a big step toward bringing all the market information a trader, institution or business needs under one roof.”
Launched in 2020, Nansen is an analytics platform that maps blockchain data to wallet tags. It is known for its ability to track what big investors are doing online. Investors use the platform to assess opportunities and monitor their portfolios with real-time alerts.
Nansen announced its latest funding round last December, raising $75 million in a Series B. Tiger Global, GIC and Andreessen Horowitz are among its most prominent backers.
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