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HomeNFTBitsCrunch adds new features in his kitty, raises whopping $3.6 million for...

BitsCrunch adds new features in his kitty, raises whopping $3.6 million for NFT analytics tools

In a tweet on Feb. 24, the company expressed its expectation that the new features will make the “whole ecosystem more trustworthy & safe for the community.”BitsCrunch, a company that analyses the crypto and nonfungible token (NFT) ecosystems, has raised $3.6 million in a round led by Animoca Brands, Coinbase Ventures, Crypto.com Capital, and others.

To estimate the fair pricing of NFTs, discover wash trading warnings, and establish whether an NFT is a copy or forgery of the actual asset, BitsCrunch employs AI-based analytical techniques. The company’s headquarters are in Germany and India.

The firm believes that investors in the rapidly expanding industry require better data to safeguard them from imposters and being duped by phoney trade activity. 

The round’s primary investor, Animoca Brands, has been one of the most active VC firms in the NFT market. Due to the level of profit in its investment portfolio, which includes Axie Infinity, The Sandbox, and many other NFT projects, it was valued at $5 billion last month.

 

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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