The activities of Nansen, an Ethereum blockchain analytics platform, continue to grow thanks to the acquisition of a DeFi (decentralized finance) tracker that operates across chains.
According to the platform’s announcement on Tuesday, Nansen has obtained Ape Board (a portfolio that runs on multiple chains) in a contract.
The transaction, which will take place in May’s later period, aims to connect the two venues’ groups by combining Ape Board’s portfolio tracking and Nansen’s analytics to provide a comprehensive information facility. As part of the acquisition, Ape Board’s 13 employees will join the Nansen team (composed of 120 engineers, product managers, and analysts) to deliver reliable data on the Web3-based mega app.
Ape Board will serve as the starting point for a one-of-a-kind Nansen portfolio tracker. According to a Nansen representative, the product will be used for free and will be flawlessly integrated with the rest of Nansen’s features. The venue is centered on the supply of information and statistics surrounding the Ethereum blockchain and was named after Fridtjof Nansen (an explorer and scientist) after its establishment in 2019.
Some well-known industry investors, like Coinbase Ventures and Andreessen Horowitz, back the platform. Nansen raised up to $12 million in a Series A fundraising round last year to build a blockchain analytics forum to operate in the DeFi industry. The match between Ape Board and Nansen was adequate for attaining the DeFi-based objectives.
DeFi-based investments can all be found in one place at Ape Board, an aggregator for all DeFi-related assets. 390 protocols are supported, including MATIC (Polygon), Binance Exchange, SOL (Solana) and BNB Smart Chains, as well as the 36 blockchains supported by the venue. According to a spokeswoman, Nansen plans to transform into a Web3-based mega app delivering go-to information with the latest acquisition.
According to the speaker, the crypto consolidation period would likely last 12 to 18 months. The Nansen has a strong war chest and a plan to continue being forceful in the growth and creation of an unparalleled and full-fledged market intelligence venue.