Nurdianah Md Nur Fri, Jun 10, 2022
Nansen has extended its collaboration with Google Cloud to empower Web3 investors to make informed decisions with real-time access to market intelligence.
Founded in 2020, Nansen is a Singapore-based blockchain data analytics platform that is backed by venture capital firms like Accel and Singaporean sovereign wealth fund GIC.
It provides high-quality market intelligence for retail investors, as well as institutional investors like Acheron Trading, Polychain, and Three Arrows Capital.
To help users discover and assess investment opportunities on trending smart contract platforms and digital assets, Nansen is extending its database management capabilities to support 10 additional blockchains and deliver insight into fast-emerging sectors of the non-fungible-token (NFT) market.
“We’ve been using [Google Cloud’s] BigQuery from the very beginning, and its low-latency lookups and dynamic autoscaling capabilities allow us to analyse up to one petabyte of on-chain transactions data per day, extract millions of easy-to-understand labels that show users where the ‘smart money’ is going, and increase our subscriber base by 20 times in the past years,” says Alex Svanevik, co-founder and CEO, Nansen.
“As we attract more users and bring all the market intelligence an individual or institution needs under one roof – by integrating with more proof-of-stake blockchain and off-chain data sources – we’re doubling down on Google Cloud to stay ahead of multiple growth dimensions,” he adds.
In line with that, Nansen is combining Google Cloud’s advanced analytics and granular computing capabilities with institutional-grade application programming interfaces.
With programmatic access to Nansen’s proprietary data, market makers, hedge fund managers, and asset managers can train their own algorithms to anticipate market movements, generate bespoke reports and metrics, and conduct due diligence – all within their firms’ mandated IT systems and visualisation tools.
Additionally, Nansen will use Google Cloud’s dedicated node deployment and hosting service to connect to selected Layer-1 blockchain protocols.
It will also leverage Google’s web and mobile application development platform to give investors an aggregated view of their portfolios across multiple Web3 native wallets like Coinbase, MetaMask, Rainbow, Trust Wallet, and imToken. This will then form the basis of investors communicating with each other and engaging in over-the-counter trades within the Nansen platform.
Accelerating innovation
Google Cloud’s solutions are also empowering Nansen’s engineers, developers, and data scientists to focus on innovating instead of managing complex IT infrastructure.
For instance, Google Cloud’s automated workflow orchestration, data filtering and messaging delivery provides notifications of relevant events and trends in real-time – called Smart Alerts – to help investors defend their trading positions. This frees up Nansen engineers’ time, enabling them to focus on projects that require human creativity.
Besides that, Nansen data scientists are turning to Google Cloud’s Vertex AI to develop a feature that provides investors with price estimates for any given NFT. By doing so, it took only weeks to bring the feature to life, instead of months to build machine learning pipelines from scratch.
“Google Cloud’s ability to automate application deployment and upgrades – with zero downtime – really minimises the need for human intervention and tedious manual backend configurations. It’s the perfect fit for our agile product development cycle.
“From Smart Alerts to six NFT Indexes – each new feature can be designed in a matter of hours before we iterate further, test it in stealth mode, and roll it out in a scalable way,” says Svanevik.
Ruma Balasubramanian, managing director for Southeast Asia at Google Cloud, adds: “Nansen’s desire to organise large volumes of blockchain data to surface signals and make them universally accessible and useful aligns with Google’s mission.
“We are proud to collaborate with Nansen and contribute to its innovation and business momentum through our open, secure, scalable, and sustainable cloud infrastructure, data services, and collaboration tools.”