Nansen hopes to merge its features with Ape Board to create a “super app” for tracking on-chain data.
At the keynote presentation at the Permissionless conference, Nansen’s CEO Alex Svanevik announced that his firm had acquired Ape Board, a multichain portfolio tracker.
“With this acquisition, we are paving a path towards becoming the go-to information super-app for all of Web3,” said Svanevik. “We’re aiming to bring all the market intelligence a trader, institution, or business needs under one roof.”
The valuation was not made public but insiders claim that the deal was in the eight figures. Nansen also adds that there was no need to seek regulatory approval. Nansen said that it will be embarking on an aggressive expansion and certainly has the war chest to fund such ambitions.
The logic for the Ape Board acquisition was a result of the “siloed nature of blockchain data ultimately inhibiting a holistic view of the investment landscape.”
Tracker carved a niche focusing on multichain
Ape Board was established in March 2021 and has risen to be one of the top three portfolio trackers by web traffic.
Nansen plans to onboard the Ape Board team to the platform and has assured users that Ape Board will remain free and open. However, the integration will direct traffic to Nansen and will serve as the bedrock for a range of features.
Part of the preliminary moves planned is the upgrading of the UI/UX of the Ape Board to show a holistic view of investors’ holdings. The acquisition has been hailed by Mike Phul, founder of Ape Board as one that will “supercharge” both firms.
“The combination of these two products is a 1+1 = 3 moment, or even 1+1=5,” said Mike Phul, founder of Ape Board. “It will bring both products to another level that cannot be reached with just one service alone.”