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Mnemonic raises $4 million to launch B2B API platform focused on NFT’s

Mnemonic has emerged from a six-month incubation period to announce the upcoming launch of its nonfungible token (NFT) analytics platform designed to facilitate API and cross-chain aggregation functionalities, which enable developers to build NFT-centric applications.Above this foundational layer, the platform also intends to provide on-chain quantitate data insights into popular collections in the emerging sector, commencing with Lazy Lions, World of Women, Gutter Cat Gang and Dystopunks, with plans to expand in the near future.The San Francisco-based firm was co-founded by four entrepreneurs with experience working as senior executives and lead engineers at blue-chip technology firms Google, Uber and Reddit, among others, on aspects of machine learning, big data, application programming interfaces (API) and more.Earlier this year, the company completed a seed funding round of $4 million led by venture capital investor Kenetic, and participated by Sound Ventures and Tribe Capital, as well as angel investors Coinbase, IntoTheBlock and People.ai. Alongside this, the company has also established relationships with Dapper Labs and Mintable in a bid to expand their market position.Cointelegraph spoke to the co-founder and CEO of Mnemonic, Andrii Yasinetsky, for insight into his expectations for how on-chain data insights could impact the education of retail investors entering the NFT space:Related: Blockchain analytics service Nansen to incorporate DeFi protocol ArbitrumPulling on-chain data for NFTs should be easy and offer basic search, intelligence with analytics, rarity, metrics, etc all w/o rate limiting

It’s why we invested in the seed round of @mnemonichq. Their easy B2B NFT API solution makes it SO easy to pull this data. https://t.co/cG5k3ea9jWAs the NFT market emerges into the mainstream, the demand for correlated data tools is witnessing a parallel ascension. Yasinetsky noted how the Mnemonic platform differs from other multi-sector competitors such as Nansen:“We have built a Google-like crawling system that not only ingests what’s available on chain, but also indexes all pieces of the metadata associated with every NFT — millions of NFTs — to provide the freshest and most relevant results to our customers. On its own, this is a very hard engineering problem that had not been widely addressed in the space until now,” he said.

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