Nansen Buys DeFi Portfolio Tracker In Landmark Deal

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Nansen Buys DeFi Portfolio Tracker In Landmark Deal
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With Nansen’s recent acquisition of decentralized finance (DeFi) tracker app Ape Board, tracking on-chain metrics and numbers will become easier.

Nansen hopes to merge its functionality with Ape Board to create a “super app” for tracking data on-chain.

In a keynote speech at the Permissionless conference, Nansen CEO Alex Svanevik announced that his company has acquired multi-chain portfolio tracker Ape Board.

“With this acquisition, we are paving the way to become the go-to information super-application for all Web3,” Svanevik said. “Our goal is to bring all the market intelligence a trader, institution or business needs under one roof.”

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The valuation was not disclosed, but insiders said the deal was in the eight figures. Nansen also added that there is no need to seek regulatory approval. Nansen said it will embark on aggressive expansion and there must be enough money to fund that ambition.

The logic behind the acquisition of Ape Board is that “the siloed nature of blockchain data ultimately inhibits the overall view of the investment landscape.”

Tracker has carved out a niche market focused on multi-chain

Founded in March 2021, Ape Board has become one of the top three portfolio trackers by web traffic.

DeFi portfolio trackers have carved out a niche by focusing on multi-chain and non-EVM tracking, which has gained a considerable following in the Terra (LUNA) and Solana (SOL) communities.

Nansen plans to add the Ape Board team to the platform, assuring users that Ape Board will remain free and open. However, the integration will direct traffic to Nansen and will serve as the cornerstone for a range of functions.

Part of the planned initial move is to upgrade Ape Board’s UI/UX to display a holistic view of investor holdings. Ape Board founder Mike Phul praised the acquisition as “supercharging” both companies.

“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 take both products to a level that cannot be achieved by a single service.”

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