NFTs are revolutionising traditional ownership systems and empowering creators and brands to connect with fans in innovative ways. This is only the beginning and it is believed that the future of NFTs holds an unimaginable potential.
Unleashing this potential, San Francisco-based Mnemonic, a complete NFT intelligence platform for builders, brands, and enterprises in the Web3 space, comes into the picture. Its platform simplifies the complex process of reading, searching, aggregating, and analysing blockchain data, enabling developers to bring superior products to the market quickly.
Funding to boost growth plans
Now, Mnemonic has announced a $6 million seed funding in an extension round, which was led by Salesforce Ventures (which backed Weavegrid and Go1), with participation from Polygon Ventures, Orange DAO, FIN Capital and FJ Labs. With this round, the total investment secured by the company so far accounts for $10 million and it follows a $4 million seed funding from Kenetic Capital, Monochrome Capital, Sound Ventures and Tribe Capital in late 2021.
The fresh funding will be used to expand the capabilities and reach of Mnemonic’s suite of APIs, which power Web3 wallets, social media, analytics tools and Web3 marketing platforms. The product roadmap will be accelerated to meet the demand for deeper insights. The funding will also strengthen Mnemonic’s partner ecosystem, helping partners reduce the time to market and more quickly benefit from powerful analytics and intelligence capabilities across Web3.
Also, Salesforce will integrate Mnemonic into its vendor list to help brands tap into first-party data and powerful analytics to deepen customer relationships.
Andrii Yasinetsky, CEO and Co-founder, Mnemonic said, “We’ve built a solid foundation, but Web3 is such a data-rich ecosystem and we’re only scratching the surface of what’s possible. This additional capital funds our ambitious vision to unlock Web3’s full potential to power exceptional experiences, personalised rewards and sticky communities for enterprises of all sizes.”
“Increasingly, we’ve seen a lot of interest from enterprises who want to understand and tap into Web3 to build trusted digital communities, and turn relevant data into actionable insights,” added Laura Rowson, Senior Associate, Salesforce Ventures. “We’re thrilled to invest in innovative companies building scalable enterprise solutions for Web3 – including Mnemonic’s data and analytics platform.”
“Our aim is to empower organisations to thrive in Web3 by providing them with a holistic view of how customers interact with their brand across traditional and emerging digital channels,” said Max Comparetto, Co-founder, Web3 Studio, Salesforce. “With the integration of Mnemonic’s insights into Salesforce Web3, we can help customers make better data-driven decisions on critical aspects such as partner selection, Web3 product pricing, and audience targeting for airdrops.”
Ensures a bright future for NFTs
Mnemonic was founded in 2021 by Andrii Yasinetsky and Elena Ikonomovska. The female-led company is building a diverse team of engineers, creators, and entrepreneurs who are excited to pave the way for the future of NFTs. Its team has decades of varied experience with large scale infrastructure development, big data, machine learning, artificial intelligence, data science, and product design at iconic tech companies like Uber, Google, Nest, and Reddit.
Its APIs bring rich Web3 analytics, audience insights and customisable audience segmentation abilities so that enterprises have everything they need to build personalised, memorable, and safe products and experiences in Web3.
NFT data analytics
Recently, Mnemonic supported the testnet launch of Base, a new Ethereum L2 incubated by Coinbase. Base is poised to become a go-to choice for enterprise-grade tools. With this round, Mnemonic supports Base testnet and plans to support mainnet once it launches in the coming months.
Mnemonic gives developers enterprise-grade data and analytics, making every asset, wallet, transaction, and collection on the Base chain accessible and understandable through enterprise-grade APIs.
Rowan Stone, Head of Crypto BD at Coinbase added, “We’re excited to work with Mnemonic to deliver seamless data flows for Coinbase Wallet and Base users interested in onchain collections.”
