Mnemonic is out of its six-month incubation period to announce the upcoming launch of its Non-Fungible Token Analytics (NFT) platform, designed to facilitate API functionality and cross-thread aggregation, enabling developers to build NFT-centric applications.

Apart from this foundation, the platform also aims to provide the chain with quantitative data on popular groups in the emerging sector, starting with Lazy Lions, World of Women, Boys Cat Gang and Dystopunks, with expansion plans in the near future.

The San Francisco-based company was founded by four experienced entrepreneurs as CEOs and senior engineers at major tech companies like Google, Uber, and Reddit. API) and more.

Earlier this year, the company completed a $4 million seed funding round led by investor VC Kenetic, which included Sound Ventures and Tribe Capital, as well as angel investors Coinbase, IntoTheBlock and In addition, the company has also established relationships with Dapper Labs and Mintable in an effort to expand its market share.

Cointelegraph spoke with Mnemonic co-founder and CEO Andrey Yasinetsky to understand his predictions about how understanding on-chain data will impact the education of individual investors entering the NFT space:

“While these dashboards are not our main product, but merely a display of our data, it is great to see the increased awareness of NFT faucets, potential faucets and investors. We are using the tools, services, and applications that retail investors will use to better understand the market they are trading in.”
Related Topics: Nansen Blockchain Analysis Service Will Include DeFi Arbitrum

When the NFT market becomes mainstream, the demand for related computer tools grows in parallel.

Yasinitsky notes how the Mnemonic platform differs from other diverse competitors such as Nansen:

“They focus primarily on portfolios and provide insight into more abstract trends and behavior within portfolios. Our smart platform focuses on NFTs and covers a broader range of considerations than just portfolio behavior: NFT features, transaction sizes and values, metadata analysis, and more.”
“We have built a Google-like crawl system that not only captures what is available in the chain, but also indexes all the metadata associated with each NFT – millions of NFTs – to provide our customers with the most current and relevant results. By itself, according to him, this is a very complex engineering problem. Not yet resolved in space.

Source: CoinTelegraph