Blockchain Analytics Giant Nansen Acquires DeFi Portfolio Tracker Ape Board for over $10 Million

Key Takeaways

  • Nansen believes the acquisition of Ape Board will help it become the “definitive information super-app of web3.”
  • Ape Board’s founder, Mike Phulsuksombati, believes that the acquisition will “supercharge” both products.

Blockchain data analytics platform Nansen announced the acquisition of decentralized finance (DeFi) portfolio tracker Ape Board. The acquisition, revealed on Tuesday, closed earlier this month; however, the terms of the deal were not disclosed. A Nansen spokesperson has told CoinDesk the amount paid is in “eight figures,” putting it upward of $10 million.

Ape Board, founded in 2021, lists around 400 protocols across 33 blockchains and one exchange, including Ethereum, Binance Smart Chain, Avalanche, Solana, and Polygon. The company’s DeFi dashboard lets users track their yield-farming assets in each network and calculate their net worth automatically. 

Nansen noted in a press release that the acquisition of Ape Board will help Nansen become the “definitive information super-app of web3”. The acquisition will also spur the future launch of features, including portfolio tracking, programmatic access to on-chain data, and Web3-native communication. The two firms noted Ape Board’s multichain coverage will provide traders with a holistic view of the market that does not require them to use multiple platforms to track their holdings and analyze the market.

Nansen CEO Alex Svanevik, commenting on the acquisition, said “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”. He added that with this acquisition, they are taking a big step towards bringing all the market intelligence a trader, institution or business needs under one roof.”. Svanevik further stated that the company would spend 2022 focusing on offering institutional clients access to its on-chain data programmatically.

Ape Board’s founder, Mike Phulsuksombati, stated that the acquisition would “supercharge” both products. “It will bring both products to another level that cannot be reached with just one service alone,” he added. Ape in its tweet announcing the acquisition noted that the Nansen team and the Ape Board team will work together to deliver a more holistic view of user holdings with a UI/UX unparalleled by any single platform on the market.

The acquisition of Ape Board follows Nansen’s $75 million Series B funding round in December 2021, which was led byGIC, a16z, Tiger Global, SCB, Accel, and 10X. The firm raised $12 million for its Series A in June.

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Saniya Raahath

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