Major Ethereum blockchain analytics platform Nansen continues scaling its operations by acquiring a cross-chain decentralized finance (DeFi) tracker.
Nansen has acquired the multi-chain portfolio tracker Ape Board in an eight-figure deal, the firm announced to Cointelegraph on May 17.
Closing later in May, the acquisition will unite the teams of the two platforms, aiming to combine Nansen’s analytics and Ape Board’s portfolio tracking to provide an all-in-one information service.
As part of the acquisition, 13 employees at Ape Board will join Nansen’s team counting 120 analysts, product managers and engineers to jointly provide the “definitive information super-app of Web3.”
“Ape Board will become the starting point of a new Nansen Portfolio tracker. It’ll be free to use, and will integrate seamlessly with the rest of Nansen’s features,” a spokesperson for Nansen told Cointelegraph.
Founded in 2019, Nansen was named after scientist and explorer Fridtjof Nansen as the platform is focused on providing data and analysis about the Ethereum blockchain. The platform is backed by some prominent industry investors like Andreessen Horowitz and Coinbase Ventures. In 2021, Nansen 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 aspire to its DeFi ambitions. Launched in 2021, Ape Board is designed to provide an aggregator pulling together all DeFi investments into one platform. The platform supports 36 blockchains including Ethereum, Binance Smart Chain, Terra, Solana, Binance Exchange and Polygon as well as 390 protocols.
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With the new acquisition, Nansen aims to pave a path towards becoming the go-to information super-app for Web3, a spokesperson for the firm said, adding:
“The next 12-18 months will likely mark a consolidation period for crypto. Nansen has a strong war chest, and we plan to continue being aggressive with our growth and build an unrivaled, all-in-one market intelligence platform.”
“Obtaining data from the cryptocurrency ecosystem, specifically, DeFi protocols and blockchains is complex and fragmented,” Nansen CEO Alex Svanevik said. “With this acquisition, we take a big step towards bringing all the market intelligence a trader, institution, or business needs under one roof,” he added.