The Resilience of Nansen Amidst Crypto Market Challenges
In a year where cryptocurrencies have taken a nosedive, Nansen has emerged as a surprise victor, defiantly standing tall with impressive growth metrics. Co-founder and CEO, Alex Svanevik, recently shared the highlights of this success, revealing that the analytics platform has amassed over 130 million addresses and grown by 30% despite the downturn in the crypto market.
Why Ethereum is the MVP
Svanevik credits much of Nansen’s flourishing growth to the inherent value found in blockchain technologies, especially those built on the mighty Ethereum. The Ethereum blockchain seems to have become a breeding ground for innovative projects and applications, making it a prime catalyst for Nansen’s success.
Nansen’s Pivot to NFTs and B2B
In a follow-up discussion, Andrew Thurman from Nansen shared some insights into the platform’s evolving strategies. Post the NFT frenzy, Thurman noted that Nansen’s NFTs section gained substantial traction, almost overshadowing their initial focus on Decentralized Finance (DeFi) plans. He humorously mentioned, “We had a little bit of a shiny object syndrome with NFTs but now we’re seeing the bigger picture. Balance is key!”
Interestingly, Nansen’s client base has increasingly leaned towards business clients rather than individual users, or B2B. Thurman humorously mused, “Last year, we were all about individual sales, this year, it’s like we’ve switched to Netflix and are focusing on big brands!” By the end of the year, Nansen anticipates generating more B2B earnings than individual sales.
Innovative Tools for the Future
Looking ahead, Nansen is not sitting back; they’re launching a new portfolio product that will allow users to monitor their assets across over 40 blockchains and 400 DeFi platforms. Their recently announced research initiative, dubbed Alpha, promises to elevate user experience and propel Nansen further into the spotlight.
Words of Wisdom for Aspiring Firms
When asked about advice for other companies aiming to carve out a place in the crypto cosmos, Thurman offered words of encouragement:
“Cryptocurrency is an industry experiencing 0-to-1 uptake in terms of users, use cases, and market cap. It’s a massive new playing field where winners can emerge.”
A Bright Future for Nansen
Founded in 2020, Nansen continues to pave the way for blockchain analytics, tracking invaluable data and research across Ethereum and other platforms. With noteworthy investments, including a $12 million stake from Andreessen Horowitz last year, the future looks bright for this rising star in the crypto analytics sector.
