Mnemonic raises US$4 million to launch a B2B API platform focused on NFT

After six months of incubation, Mnemonic announced the upcoming launch of its non-fungible token (NFT) analysis platform, which aims to promote API and cross-chain aggregation functions, enabling developers to build NFT-centric applications.

On top of this basic layer, the platform also intends to provide on-chain quantitative data insights for popular collections in emerging fields, starting with Lazy Lions, World of Women, Gutter Cat Gang and Dystopunks, and plans to expand in the near future.

This San Francisco-based company was co-founded by four entrepreneurs who served as senior managers and chief engineers in blue-chip technology companies such as Google, Uber, and Reddit. They have rich expertise in machine learning, big data, and application programming interfaces. experience of. API) etc.

Earlier this year, the company completed a $4 million seed round led by venture capitalist Kenetic, with participation from Sound Ventures and Tribe Capital, as well as angel investors Coinbase, IntoTheBlock and People.ai. In addition, the company has established relationships with Dapper Labs and Mintable to expand its market position.

Cointelegraph talked with Andrii Yasinetsky, co-founder and CEO of Mnemonic, to gain insights into his expectations for the education of retail investors entering the NFT space:

“Although these dashboards are not our core product, but just a display of our data, it is great to see that more awareness has attracted the attention of NFT collectors, potential collectors and investors. We will be used by retail investors Tools, services and applications provide support to better understand the markets they are trading.”

Related: Blockchain analysis service Nansen will be included in the DeFi protocol Arbitrum

As the NFT market becomes mainstream, the demand for related data tools is also increasing.

Yasinetsky pointed out the differences between the Mnemonic platform and other multi-sector competitors (such as Nansen):

“They mainly focus on wallets and provide insights into more abstract trends and behaviors within wallets. Our intelligence platform focuses on NFT and covers a wider range of considerations, not just wallet behavior: NFT characteristics, transaction volume and value, metadata Analysis and so on.”

“We have built a crawling system similar to Google, which can not only get the content available on the chain, but also index all the metadata associated with each NFT—millions of NFTs—in order to help us Of customers provide the freshest and most relevant results. On its own, this is a very difficult engineering problem that has not been widely resolved in this field until now,” he said.