Key Takeaways:
- Dune’s community-powered platform makes on-chain crypto data accessible and consumable.
- The company provides cutting-edge tools that enable data to be extracted, queried, dissected, and visualized in real-time dashboards.
Dune will use the funds to build an infrastructure that distributes financial rewards for user-generated content, attracting and incentivizing participation in the community from up to one million new web3 analysts known as Dune Wizards. In addition, Dune Wizards will create custom visualizations that communicate real-time on-chain intelligence and be compensated financially for their ongoing engagement and contributions.
“Despite being radically open, web3 data remains largely underutilized,” said Fredrik Haga, Co-founder and CEO of Dune Analytics. At Dune, we want to make this intelligence easily accessible and reward the analysts who transform it into digestible, real-time actionable insights. Only insiders have access to valuable data in legacy finance.
Dune is committed to supporting the next generation of analysts who will not wear suits or work for investment banks. Instead, these trailblazers will have odd animals as profile pictures and collaborate openly across the globe.
The adoption of real-time analytics, dashboard visualizations, and automated reporting is booming in legacy finance, with revenue forecasted to reach $14 billion by 2021. However, in the crypto world, adoption is still in its infancy.
The platform now supports data inquiries for five blockchains: Ethereum, Polygon, Optimism, Binance Smart Chain, and xDAI, with intentions to include all Layer-1 and Layer-2 smart contract platforms in the future.
Thousands of apps and millions of transactions and apps create massive volumes of data every day on blockchains, which are a globally shared public backend. This free data represents a vastly larger opportunity than any data analytics company or product the world has ever seen.
There are numerous insights in crypto data, but they will remain hidden beneath the surface until talented and incentive analysts are combined with excellent data tooling.
