According to online news sources, one of the first NFT intelligence platforms, Mnemonic, has reportedly announced the launch of its cross-chain aggregation platform and APIs on 9 December 2021. This was a public debut of sorts for the one-of-a-kind B2B NFT company. The announcement came after it was found that the company was able to raise around $4 million in seed fundraising.
The main function of Mnemonic is to provide a layer for data infrastructure for the new generation of NFT companies. The API data platform of Mnemonic will work in the same way as the technology platform of Plaid. The Plaid platform powers digital finance products and FinTech companies, while Mnemonic’s platform can be used to power all NFT-based applications. Through Mnemonic’s cross-chain aggregator platform and APIs, developers will be able to access and build applications fairly quickly.
Through the Mnemonic APIs, developers would be able to get insights into the dynamics of the market and also token owners’ behavior. In addition to this, they will also be able to search NFT contracts, cohorts, and other data. This has made it possible for the developers to build the kind of NFT applications that would not have been possible otherwise.
The popularity of the non-fungible tokens (NFTs) has skyrocketed in the past year, with many brands and artists using the NFT space to promote their content. With the aforementioned launch, Mnemonic is also planning to tap into the opportunities offered in the NFT space. In a recent interview, the CEO and co-founder of Mnemonic, Andrii Yasinetsky, said that the company hopes to play an important role in the data transformation and scalability of the NFT industry in the years to come.