- Ape Board will become the starting point for a new free-to-use portfolio tracker.
- Nansen will onboard Ape Board’s employees and CEO in the coming months.
Blockchain analytics platform Nansen has acquired Ape Board, a tool that allows users to track their portfolio of non-fungible token (NFT) and decentralized finance (DeFi) investments.
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Ape Board will become the starting point of a new free-to-use portfolio tracker that will integrate with the rest of Nansen’s features, according to an announcement on Tuesday. Nansen will incorporate Ape Board’s 13 employees into its 120-strong team in the coming months. Ape Board co-founder and CEO Mike Phulsuksombati will switch to heading up portfolio functionality.
The acquisition was for an eight-figure sum, a Nansen representative told The Block.
“Obtaining data from the cryptocurrency ecosystem, specifically, DeFi protocols and blockchains is complex and fragmented,” Alex Svanevik, CEO of Nansen, said in a statement. “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. With this acquisition, we take a big step towards bringing all the market intelligence a trader, institution, or business needs under one roof.”
Launched in 2020, Nansen is an analytics platform that pairs blockchain data with wallet labels. It is known for its ability to track what high-value investors are doing on-chain. Investors use the platform to assess opportunities and to stay on top of their portfolios with real-time alerts.
Nansen announced its latest funding round in December last year, raising $75 million in its Series B. Tiger Global, GIC and Andreessen Horowitz are among its most prominent backers.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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