Mnemonic, an NFT Intelligence Platform that powers blockchain applications, has announced the launch of APIs and cross-chain aggregation platforms to provide intelligence on a large scale for developers. In correspondence with Forbes, the company's CEO, Andrii Yasinetsky, explained the basis for the partnership. According to him, "we realized that to unlock the opportunity and value in this space, there was this key information missing, this data layer of everything that has ever happened in the NFT space," which propelled them to act.
The company has raised $4 million in seed funds that Kenetic led, in conjunction with Monochrome Capital, Sound Ventures, Tribe Capital, and angels from Coinbase (NASDAQ:COIN), IntoTheBlock, and People.ai companies that are experts in the crypto ecosystem. In addition, major NFT companies such as Yat, Dapper Labs, and Mintable have also collaborated to leverage the API for their technologies.
Read Also: ‘Piracy’ Website Makes NFT Arts Available as Free Downloads
Mnemonic provides an infrastructure layer for the next generation of NFT companies. Its API data platform creates the foundation that will power subsequent NFT based applications, providing developers with the platform to access and build new applications and better products, helping to simplify the complex task of aggregating and analyzing data at cheaper rates. The platform is one of its kind and would be critical in overhauling the infrastructure layer, providing rich data and insights to the next generation of NFT companies. In addition, its dashboards would enable collectors and enthusiasts to follow up on their favorite collections.
Mnemonic has partnered with blue-chip NFT companies, Gutter Cat Gang, Lazy Lions, and World of Women to launch the platform's first version.
The founders are experts in large-scale infrastructure, artificial intelligence, collecting big data, data science, machine learning, product design. According to the founders, the use of the platform extends beyond compiling NFT data to authentication of luxury goods, virtual stores, creator tools, and gaming. Mnemonic is said to be "pick-and-shovel for the NFT industry, pioneering next-generation data and B2B NFTs for use in the financial and enterprise ecosystems."