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Nansen Procures DeFi Tracker Apeboard in Eight-Figure Deal

Nansen will offer Web3's analytics super-app for free.

 

Nansen has acquired the cross-chain DeFi tracker, Apeboard, at an 8-figure price, according to an announcement this Tuesday. 

Alex Svanevik, CEO of Nansen, shared this information in a speech he made at the Permissionless conference held in Palm Beach. According to him, the inspiration behind the move was the inconvenience web3 users face in tracking their investments across multiple chains. As of writing, Nansen is yet to reveal the official takeover bid. However, there are suggestions that Nansen’s acquisition will cost the analytics firm more than $10 million.

Nansen and Apeboard

Nansen is a blockchain analytics Dashboard that launched in March 2021. It is one of the top three portfolio dashboards in the crypto market, supporting Non-EVM chains like Terra and Solana.

On the other hand, Apeboard is a cross-chain DeFi tracker. The company which raised $1,200,000 seed mid-2020 assists crypto platforms in tracking DeFi protocols across multiple chains. It currently serves Ethereum, Binance Smart Chain, Binance Exchange, Polygon, Terra, and Solana as well.

Nansen’s Plan of Action

With the integration of its dashboard and Apeboard’s DeFi tracking capabilities, Nansen hopes to combine the best of both worlds. In any case, the analytics firm is shaping to become the roof under which web 3 traders and institutions find and analyze all the market data they need. Hansen plans that the combo will function as:

  • An NFT portfolio and DeFi tracker
  • A block explorer
  • An easy access to on-chain data
  • A bridge for wallets across multiple chains
  • A labeling and analytics dashboard and
  • One of the foremost support for web3 native interactions

A Perfect Match

Both Nansen Svanevik of Nansen and Mike Phulsuksombati of Apeboard, agree the cumbersome process of tracking investment holdings cross-chain needs addressing. The vast amount of different tools in such sensitive exercises makes it difficult to track one’s array of investments simultaneously.

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However, with this acquisition, they intend to change all that. For one, Nansen envisions a web3 intelligence system that offers holistic, trackable intelligence to the Web3 community. Lastly, Phulsuksombati showed enthusiasm about where this will lead for both companies. He believes that the integration will take them both to heights Apeboard would never have reached alone.

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