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Nansen Acquires DeFi Portfolio Tracker Ape Board for More Than $10M
Nansen plans to combine its analytics with Ape Board's portfolio tracking to make the "definitive information super app of Web 3."
Updated May 11, 2023, 4:20 p.m. Published May 17, 2022, 6:00 p.m.
On-chain data platform Nansen said it bought decentralized finance (DeFi) portfolio tracker Ape Board for an "eight-figure" sum.
Ape Board lists over 375 protocols across 33 blockchains, including Ethereum, Binance Smart Chain, Avalanche, Solana and Polygon.
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Terms of the deal were not disclosed. A Nansen spokesperson told CoinDesk the amount paid is in "eight figures," putting it upward of $10 million.
With the acquisition, Nansen will be aiming to offer a broader view of the investment landscape in DeFi, which has surged in the past year. While total value locked (TVL) in DeFi protocols has tumbled about 40% to $113 billion since the start of the month, it's still six times higher than at the start of 2021, according to tracking service DeFiLlama.
.@ASvanevik @nansen_ai shill:
— Tracy Wang (@0x_tracy) May 17, 2022
“If Alameda puts $50m in a smart contract, that’s information you might want to know.” pic.twitter.com/VaUeJGEqyZ
Nansen will expand its platform to incorporate portfolio tracking, programmatic access to on-chain data and Web 3-native communication, according to an announcement Tuesday.
The two firms say 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 plans to combine its analytics with Ape Board's portfolio tracking to make for an "all-in-one super app," the spokesperson told CoinDesk.
Ape Board's founder, Mike Phulsuksombati, said the acquisition will "supercharge" both products. "It will bring both products to another level that cannot be reached with just one service alone," he said.
Read more: Ethereum DeFi Staple MakerDAO Adds StarkNet Bridge in First Step Toward Multi-Chain
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