Nansen admits to neglecting DeFi initiatives during NFT craze


Despite the general downturn in the cryptocurrency market throughout the year, Ethereum (ETH) blockchain analytics platform Nansen continues to report impressive growth numbers.

CEO and co-founder Alex Svanevik recently spoke Regarding Nansen’s growth, it was highlighted that the company has registered more than 130 million addresses, which is a 30% increase despite the cryptocurrency downturn. Svanevik attributes much of his success to the value of blockchain platforms, especially those based on Ethereum.

Cointelegraph reached out to Nansen’s Andrew Thurman to gain more insight into the company’s success. Thurman, a psychometric enhancement technologist at Simian, explained that after the non-fungible token (NFT) craze, Nansen realized this was going to be a big area for the company and its most popular division. He added:

“So, I think we kind of overlooked our DeFi plans. But we’re really focused on strengthening that again and balancing that with NFTs. We have to realize that our goal of being a super app for Web3 means that NFTs are important, But they’re not the only things that matter.”

As Nansen’s customer base continues to grow, Thurman added, the company will definitely see a shift in favor of business customers (B2B). He explained that by the end of the year, Nansen’s B2B revenue is likely to exceed personal sales, compared with the opposite last year. As a result, Thurman said, Nansen had to change their approach in order to scale and meet growing user demand.

Regarding its growth plans, Thurman talked about the platform creating a new yet-to-be-launched portfolio product that, in addition to the recently announced research project, will allow clients on 40+ blockchains and 400+ DeFi platforms The assets that track them are called alpha.

When asked what advice he would give other companies looking to follow in their footsteps, Thurman replied:

“Crypto is an industry that has experienced 0-to-1 uptake in terms of users, use cases and market cap. It’s a huge new playing field where winners may emerge.”

related: Crypto users spend $2.7B to mint NFTs in H1 2022: report

Founded in 2020, Nansen is a blockchain analytics platform for crypto experts and investors to track data and research on Ethereum and other blockchains. In addition to research, Nansen is also recognized for index aggregations such as NFT-500, which tracks the performance of the top 500 ERC-721 and ERC-1155 token collections on Ethereum. Andreessen Horowitz invested $12 million in the company last June.