By
Temitope Olatunji
April 18th, 2024
Nansen is experiencing a shift in favor of business clients or B2B. The platform will most likely see more earnings in B2B sales than individual sales.
Blockchain analytics platform Nansen has shown impressive increases this year, despite the general crypto market crash. The crypto crumble is no longer news, with Bitcoin leading the turmoil. The top crypto asset plunged over 50% from its record high in 2021. At the same time, major altcoins like Ethereum (ETH), Binance Coin (BNB), Ripple’s XRP, and more have also declined significantly since the year started. Many investors have lost huge investments, and crypto-relate companies are amassing losses.
Nansen Expands 30% Despite Crypto Dip
Amid the downturn in the crypto market that affected all and sundry, Nansen has been surging this year. According to Nansen CEO and co-founder Alex Svanevik, the blockchain analysis platform has registered more than 130 million addresses in 2022. The executive added that the company had advanced 30% despite the crypto crumble. Svanevik attributed the impressive improvements to the value of blockchain platforms, especially Ethereum-based ones.
A simian psychometric enhancement technician, Andrew Thurman, spoke to Cointelegraph about the Nansen 2022 expansion. Thurman said the blockchain analytics platform exploited the non-fungible tokens (NFTs) mania. Giving more insight into the growth, he explained:
“As a result, I think we neglected our DeFi plans a bit. However, we’re really focused on strengthening that again and balancing that out with NFTs. We had to realize that our aim to be the Super App of Web3 meant NFTs are important, but they aren’t the only important thing.”
Since its inception in 2020, Nansen has become a preferred choice for crypto experts and investors. The platform allows users to track data and research on Ethereum and other blockchains. Additionally, Nansen has index aggregates like NFT-500 that track the performance of selected token collections on Ethereum. The platform raised $12 million in Series A funding led by Andreessen Horowitz. Other contributors included Coinbase Ventures, QCP Capital and Mechanism Capital, imTokens Ventures, and Skyfall Ventures. As a company committed to excellent service delivery, Nansen said it would use the fund to hire more talents and serve crypto investors better. It also revealed plans to grow its platform and offer more services to Polygon, Binance Smart Chain, and other networks.
Nansen Sees More Earnings in B2B Sales
As the company sees the enlargement of its client base, Thurman said Nansen is experiencing a shift in favor of business clients or B2B. In his opinion, the platform will most likely see more earnings in B2B sales than individual sales. Meanwhile, the opposite was the case in 2021. Therefore, the technician suggested that Nansen works on satisfying the new increasing user demand. Furthermore, he spoke about a coming portfolio product the company is planning to launch. He said the product would allow customers to track their assets on over 40 blockchains and over 400 DeFi platforms.
He concluded by advising firms that are considering following Nansen’s footsteps that “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.”