In an unique interview with cryptonews.com, Alex Svanevik, CEO and Co-founder of Nansen, talks concerning the launch of Nansen question and Nansen 2, the significance of knowledge in blockchain, and the connection between crypto & AI.
Alex Svanevik is the CEO and Co-founder of Nansen. He has a background in synthetic intelligence, with 10+ years of expertise as an information scientist and administration marketing consultant earlier than co-founding Nansen in 2019. Alex can be one of many preliminary DAO members of Lido Finance and PleasrDAO and serves on the board of WalletConnect.With an educational background in synthetic intelligence and machine studying, Alex can be an entrepreneur with sturdy opinions on data-driven insights in cryptocurrency and blockchain. Alex has secured over $88.2 million in funding throughout his tenure. He has an MSc in Synthetic Intelligence from the College of Edinburgh in addition to a BSc in Cognitive Science from the College of Bergen (UiB).Alex Svanevik gave a wide-ranging unique interview, which you’ll see beneath, and we’re pleased so that you can use it for publication, supplied there’s a credit score to www.cryptonews.com.
Highlights Of The Interview
- Nansen is a blockchain analytics platform that permits crypto groups and traders to research billions of on-chain information factors with important market indicators
- Information is among the most essential items of Web3 infrastructure
- How do AI and Blockchain Information mining converge
- Launch of Nansen question and Nansen 2
- The 4 C’s – Cute, Group, Content material, CEO
Full Transcript Of The Interview
Matt Zahab
Women and gents, welcome again to the Cryptonews Podcast. We’re buzzing as all the time. Bought to start out off by apologizing for the lights. We’re recording, not tremendous late, however late sufficient. Usually, we bought some good daylight on me in Mexico. I’m recording at 7:20 p.m. tonight as a result of now we have the one and solely Alex Svanevik on the present at this time. He’s a complete frigging day forward of me within the one and solely Singapore. We’re going to get into all this tremendous pumped to have him on. The CEO of Nansen. You guys know what Nansen is. Alex is the CEO and Co-Founding father of Nansen and has a background in synthetic intelligence with 10 plus years as an information scientist and administration marketing consultant earlier than Co-Founding Nansen in 2019. He’s additionally one of many preliminary DAO members of Lido Finance and PleasrDAO and serves on the board of Pockets Join. Tremendous pumped to have you ever on. Alex, welcome to the present, my good friend. The way you doing?
Alex Svanevik
Thanks, Matt.
Matt Zahab
Thanks for having me. It’s nice to be right here. Pumped to have you ever and it’s all the time tremendous cool whenever you’re a complete day forward of somebody, you realize, recording.
Alex Svanevik
I’m dwelling sooner or later.
Matt Zahab
You’re dwelling sooner or later. You have been chowing down on some only a stunning mackerel breakfast earlier than we bought began right here. I simply completed burritos for dinner. You simply completed previous brekkie. We’d like to see it. Earlier than the present you and I have been taking pictures the shit slightly and also you had a pair fairly superior tales. I bought to get you to inform these. However earlier than that, we bought a contact in your unimaginable little tweet about Singapore. You’ve gotten been in Singapore for the final six years. I’ve by no means been. It’s on my to do listing. Looks like one of many sweetest locations on the planet. You touched over a pair good factors. You’ll be able to inform them higher than I can. I feel this may be an amazing place to start out. Inform us why you like Singapore a lot and the way cool life is there.
Alex Svanevik
Yeah. So I’ve lived, I feel in seven totally different nations. So I really feel like you’ve a comparatively good pattern to match, you realize, Singapore with, I don’t know the place to start out. I feel to me, it’s really about values. You realize, I, I actually like Singapore as a result of I really feel just like the tradition right here could be very meritocratic to begin with. And that’s how the entire society has been, you realize, created since Lee Kuan Yew sort of began reworking this place from a swamp to a metropolitan city-state. And that’s in all probability a little bit of an actual period, however that’s at the least how folks clarify it. So it’s very meritocratic. It’s very environment friendly, which I feel most individuals know, however whenever you dwell it day after day, it makes a giant distinction. Like if you want to get from A to B, you may get a go test or a seize in two, three minutes, which is the equal of Uber, let’s say. And since it’s so small and since the site visitors, you realize, it’s usually not jammed however on stuff you may get from A to B in like 10 max, quarter-hour. After which if you happen to, if you want to get something performed within the public sector, like if you happen to choose up your employment cross or something like that, it’s extremely quick, proper? That is one thing that was uncommon for me as a European having lived in, say Spain or Italy, the place you need to get like your ID card and it’s a must to present up at 4 AM within the morning, this lengthy queue outdoors, you then lastly make it. And also you study that there’s one thing fallacious with their system. You must come again like subsequent week or no matter it’s. So it’s, I feel it’s simply very environment friendly. After which it’s attention-grabbing for people who find themselves in crypto as a result of it’s sort of getting that essential mass of a crypto scene right here, which is sort of thrilling. Like I feel some folks, sorry, some locations like Hong Kong the place it’s a dwell can be attention-grabbing. And I really like Hong Kong, however the crypto scene is a bit one sided and it’s principally sort of the traders who’re primarily based there. Whereas in Singapore, I feel you’ve each traders, you’ve founders of small protocols, firms. Then you’ve individuals who work within the massive crypto firms like Coinbase, Binance, and so forth. You’re primarily based right here. So you’ve a very sort of wealthy and numerous crypto scene that I actually take pleasure in. I imply, I may in all probability spend the entire podcast speaking about Singapore, frankly, however yeah, it’s an amazing place to dwell. I actually prefer it. The climate is usually fairly good. Should you like sizzling climate and it’s in an amazing location so you possibly can journey to different nice locations like Thailand, Bali, Vietnam, and so on.
Matt Zahab
So cool. Let’s bounce proper into Nansen right here. Once I first heard of Nansen, I imply, it was fairly near once I bought within the area not too way back. I wasn’t as early as you have been, however you and your staff’s progress has been completely unimaginable. Kudos and big shout out and properly deserved to you guys. Earlier than we bounce into the entire thing, did you ever assume that such as you guys would actually be the behemoth of something analytics and information associated in the entire area? Like, trigger once more, you realize, you had a, you left job to come back begin this in a dangerous trade. Did you ever have that hunch? Like we’re going to construct the shit out of this factor and switch it right into a monster. Was that ever a thought?
Alex Svanevik
Yeah, thanks for the sort phrases. I imply, to be completely sincere, once we began Nansen, we sort of considered it as a possible cashflow enterprise. Like, I feel that’s how we didn’t assume, let’s exit with the spoil the ocean imaginative and prescient to change into like a trillion greenback firm. It was extra like, hey, we all know that there are particular unsolved issues in crypto, and specifically, loads of the info was sort of both non-existing, the analytics have been incorrect in lots of locations. And there have been simply so many sort of fundamental analytical questions that you just weren’t in a position to reply again once we began, specifically as regards to what’s taking place on-chain. That’s what we’re actually good at. And so we thought if we simply clear up these issues, we’re in all probability going to have paying prospects who need to reply these questions. They usually’ll need to pay as a result of traders on the finish of the day need to make more cash. So if we’re serving to them make more cash, then presumably they are going to be okay paying a subscription price for the product. And so it was very a lot coming from a comparatively humble place. However yeah, we did begin rising very quick. Like we launched the product April 2020, we had our first paying prospects the literal first day that we put up the touchdown web page. After which phrase unfold and we simply began rising very organically. After which on the time, I used to be the one one working full-time on this undertaking. And my different two co-founders have been working part-time. And about six months later, we realized like that is turning into an actual firm. We have to rent folks. You guys have to decide to this full-time. And they also did. And we raised a seed spherical in order that we may rent folks, although we have been making revenues, really. However you continue to need to just remember to have the funds for within the financial institution, if issues change, to be able to pay your staff and so forth. So we did a seed spherical. We began hiring our first folks. After which the following yr, 2021, was unimaginable. And we did a Sequence A with A16C, we had a Sequence B with Excel and lots of different nice traders later within the yr. And yeah, I imply, some VCs we spoke to in 2021 stated that we have been actually one of many prime 5 quickest rising SaaS firms that I’ve ever seen when it comes to the income progress. So yeah, that was unimaginable. But it surely was additionally good timing with each DeFi actually taking off. And so it was nice. But it surely’s feeling for certain. And you then understand, really, we are able to purpose a lot increased right here. After which it’s a must to calibrate your imaginative and prescient and your aspirations, after all, which is an effective factor, clearly. After which yeah, we’ve by no means regarded again since.
Matt Zahab
I really like that. Little bit of a bizarre query right here. You guys pull a shitload of knowledge from, I imply, all the large boy, massive gal chains. You pull information from over 250 million pockets addresses, which is totally bonkers. That is strictly my egocentric curiosity right here. Which chain is the best to drag information from and which chain is the toughest to drag information from? Which chain provides you kind of the sexiest and most enrichful and forward-looking, you realize, development esque information and are some you’re identical to, oh, that is hogwash. That is nonsense. I’d love if you happen to may kind of give us some gold on the professionals and cons of pulling information from sure chains.
Alex Svanevik
I imply, I feel these are two barely separate issues. I’ll reply first the model of your query, which is which one is the best or which one is the toughest. That’s a fairly simple reply. The best one for us is Ethereum, as a result of that’s the one we’ve all the time began with, and we’ve developed the experience to try this. It doesn’t have an insane quantity of knowledge quantity, so it’s manageable with the block occasions and stuff. The one which’s hardest for certain is Solana. So it simply has far more information. It’s not EDM, so it’s a very totally different paradigm. However that’s why I say the questions you requested are slightly bit totally different. So it doesn’t imply that the content material for Hogwarts or that information is soiled or something like that. It’s simply that it’s very laborious for us as a result of it’s so totally different and the quantity of knowledge is a lot higher. However we nonetheless do it as a result of our prospects need Solana information, and so you continue to do this. However I might say now we have gotten insanely good at studying information from EDM chains. And naturally, that’s the dominant paradigm, if you’ll, of chains, like BNB chain, EVM, Polygon, Avalanche, SeaChain. All these totally different chains are all EVM chains. And so we’ve sort of kind of industrialized the ingestion of EVM chains to the purpose the place if we determine to onboard a brand new EVM chain, we are able to do this in ours, in principle. In fact, there’s extra work later with upkeep. You must do attribution or labeling of the wallets which might be lively on the chain. That takes time. However the precise getting all the info into our database is fairly simple at this level. But it surely took a few years to develop the know-how to do it in such a streamlined method.
Matt Zahab
And current day now we have, you realize, not crypto associated, however semi-crypto associated. Everybody’s nonetheless on the AI prepare. It’s left the station. There’s no likelihood it’s ever coming again. You’re one of many few individuals who can really chime in and who’s two cents and, you realize, fingers within the cookie jar we are able to really hearken to. You’ve gotten an MSC in synthetic intelligence from the College of Edinburgh. So, you realize, I’ve requested lots of people, what’s AI going to do to crypto? You really studied this shit. You realize what’s occurring. Particularly because the CEO of Nansen, you guys are the bread and butter of knowledge. How have you ever specifically, you and your staff used AI to, you realize, assist pull information from all of the totally different chains to assist enrich your information units, so on and so forth.
Alex Svanevik
Yeah, so we use AI in two main methods. That’s our AI technique at Nansen. The primary one is that we use it to supercharge our product, proper? So it permits us to construct sure revolutionary options and likewise deepen our information notes in a way that was not potential only a few years in the past, proper? So we sort of consider AI as ubiquitous all through Nansen. It’s not like, right here’s the one AI function. It’s extra prefer it powers our search. It powers the NFT worth estimates that our machine studying created. If you wish to get an estimate of your Pudgy Penguin, then now we have a machine studying mannequin that offers you an estimate, nearly like I say, howdy, this estimate. And it’s all machine studying energy. And so, after which when it comes to the attribution, the labeling and so forth, that’s an space the place we might be utilizing AI rather more going ahead. However yeah, so the primary space is simply making the product higher. The second space, which I don’t assume is exclusive to us as an organization by any means, and definitely not distinctive to the blockchain trade both, is utilizing AI to extend our organizational productiveness and our particular person productiveness. So that is sort of the, I suppose that is the place, if you happen to learn the newspapers, that is the place many individuals talked concerning the implications of AI, like AI goes to take our jobs and stuff. I feel in my expertise, what finally ends up taking place is that you just simply improve productiveness fairly dramatically. So if you’re working with something content material associated, proper? It may really be video, it may very well be audio, however usually it’s textual content, after all, if you happen to’re writing content material advertising and marketing, if you happen to’re writing Twitter threads, you’re writing analysis, we’re mainly utilizing AI for all of these various things to shorten down the method and simply save time and successfully improve productiveness within the sense that you just’re getting extra output with much less enter, proper, and the enter is often ours. So the best way I take into consideration this in a really broad sense is that everytime you’re doing work, there’s kind of three main stuff you do. The primary one is that there’s a immediate, proper? You’ve gotten one thing like a drive, hey, I have to do the identical, like writing down the title of the duty or no matter. Then there’s an extended course of, which traditionally has been all the time from essentially the most time, which is the manufacturing, just like the completion of that factor, the duties, after which on the finish, there’s a component of high quality assurance, like no matter I made, it’s like, it is sensible. Possibly you do this with another person, you’re high quality assurance another person’s work. With AI, the attention-grabbing factor is you find yourself spending like most of your time solely on the primary and the final bit, which in a means are the 2, that’s the place such as you spend the least quantity of hours. And the factor within the center, the manufacturing, that’s now takes like 10 seconds as a result of the, or it may be like half an hour if you happen to wanna iterate, proper? As a result of usually you high quality guarantee, you return and you then strive once more and also you sort of give suggestions to the AI as you’re working with ChatGPT, for instance. And so at Nansen, considered one of our objectives this quarter is to only collectively spend 5,000 hours working with AI. And the explanation we set that objective was I noticed that lots of people don’t even have the intestine reflex of attempting AI first for a activity since you’re not used to that, proper? Such as you’re used to only doing stuff your self, however now we have to coach folks to say like, hey, I’m writing a, I’m attempting to make a listing of strategic accounts that our gross sales staff desires to go after, for instance. That’s like, can you utilize AI to try this? And it seems completely you possibly can, like me and our senior supervisor of Radley Ops yesterday, we’re spending like two, three hours actually with ChatGPT constructing out a listing of 500 goal account lists to go after. And he saved us an insane period of time simply doing that, proper? And so the shocking factor is that you need to use AI and I might say specifically ChatGPT for therefore many issues. And even now I’ve been utilizing it extraordinarily actively the final six months, even now I’m realizing every single day that like, wow, it’s really fairly good at this factor right here. Like if I immediate it in the correct means and if I give it constructive and clear suggestions if it does ship on my expectations. Anyway, so I feel. If we get the staff to spend 5,000 hours, that works out to about 4 hours every week per particular person, that’s 10% of their time, proper? Then you should have constructed up a little bit of a intestine reflex to assume like, in my space, that is an space the place AI is nice and tremendous useful. It will increase my output by like 10x or 100x in some circumstances. After which when you get the following quarter, as a result of we plan orders via targets and key outcomes and so forth, OKRs. And whenever you get the following quarter, we are able to begin taking a look at, let’s take a look at the outputs and the outcomes we’re creating with AI. However for now, I simply need to concentrate on the enter. It’s like, put as many hours as you possibly can into the method of working with AI. After which the most effective is that good issues will come from that. So yeah, so mainly like these are the 2 areas, proper? To innovate on the product, make a radically higher product. And particularly for us, that’s about sort of creating nice interfaces to the info on Linux powered by AI, in addition to deepening our information mode. After which there’s the organizational productiveness piece the place there are numerous ideas. Like one precept is, why AI first? One other precept is make AI a staff member. Like you must actually consider AI as staff members. Like, hey, did you invite this AI to the assembly? Did you share the paperwork with the AI, proper? Did you give the AI sufficient context to be useful, to resolve this downside? You sort of must shift your psychological mannequin in direction of this not being software program, however it’s like one other staff member, which is sort of bizarre and a bit science fiction, however I feel we are literally there the place it is sensible to work with AI on this means. So yeah, it doesn’t reply your query on particularly AI for crypto, however that’s at the least how we give it some thought.
Matt Zahab
I completely love that. You kind of fired me up there slightly. I’m not going to lie too. I really feel such as you’re the sort of CEO the place somebody’s like, Hey, Alex, I would like X quantity of {dollars} for this AI subscription. You’re identical to, you chuck the Amex at him.
Alex Svanevik
Particularly for AI, for certain. I imply, like the truth is it’s costlier to not have a ChatGPT subscription than it’s to have one. It’s like far more costly to not have it since you’re ending up spending a bunch of time on stuff that the AI may very well be serving to you with and doing a shot.
Matt Zahab
Are you aware how many individuals and purchasers I discuss to who nonetheless don’t use it each single day, who don’t have a GPT-4 subscription, the place I’m identical to, I can barely bear in mind a yr in the past when this was not, you realize, like I nearly overlook about life earlier than it. And it’s one. Yeah, so you utilize it your self. It’s in reality, each, I imply, it’s, it’s bookmarked. I imply, I don’t use the bookmark anymore as a result of it’s simply, it’s such a behavior of simply, you realize, Google Chrome, C H A, growth, that simply pops, you realize what I imply? It’s simply wild the way it works. That’s signal. Yeah, shout out Sam Altman, OpenAI and the staff. You guys are unimaginable. Nansen Question, this was fairly the launch. I imply, simply enterprise prepared blockchain information, doing all of it at present supporting Arbitrum, Avalanche Base, Bitcoin, Sprint, Doge, Ethereum, Solana, Terra, you title it. You guys are doing, doing all of it. I might like to learn this and provides everybody the lowdown, however you are able to do a a lot better elevator pitch than I can, so I’m going to throw the ball over to your finish of the court docket. What precisely is Nansen Question and why is it so highly effective? And I’d love you to clarify how a lot assist it’s giving to massive, massive enterprises.
Alex Svanevik
Yeah, so the most effective story right here is mainly, we constructed the most effective on-chain analytics product for traders, proper? And in doing that, we realized that, hey, we mainly have constructed essentially the most highly effective information platform that powers this product. Why don’t we give entry to that underlying information platform instantly? It’s a bit just like the sort of Amazon and AWS aircraft, proper? Amazon builds a retail retailer, they’ve all of the infrastructure, after which why don’t we simply promote entry to the infrastructure? And in order that was the thought course of behind Nansen Question. And we had many shoppers asking us to supply programmatic entry to your information and so forth. And in order that’s actually what Nansen Question solves. And we additionally realized that crypto is cool as a result of you may get entry to numerous information via APIs, usually without spending a dime or very low cost. However the issue is that loads of that stuff is just not essentially enterprise grade, and it’s not one thing you’d need to sort of construct your enterprise on prime of, whether or not that’s like merchandise or buying and selling algorithms and issues like that. And so we had an actual focus of constructing certain that this was enterprise grade, and we had the very best high quality information, that now we have distinctive information units that you just can not get anyplace else, that we had extraordinarily broad protection of chains, after which additionally increased order issues like DEXs, NFT marketplaces, and so forth. After which total, the platform itself was very performant with the most effective uptime and the quickest load time and issues like that. In order that’s how we ended up constructing Nansen Question. And I feel the place we’ve had essentially the most success is surveying the sort of prime tier crypto groups within the area, like an OpenSea or Arbitrum or Consensus, Binance, Coinbase, just like the sort of actually nice groups that understand that possibly having like an information platform and having all these information pipelines in home is just not an amazing concept as a result of it simply distracts us from our core mission, proper? Like Coinbase is just not an information firm. You realize, it desires to extend the financial freedom on the planet and primarily, after all, they do this via providing an amazing trade. And so as an alternative of them spending a ton of time internally constructing out stuff, it’s really rather more economical to only purchase this from us, proper? In order that’s the sort of fundamental premise of why we constructed Nansen Question and the place we’ve had essentially the most success. I additionally really feel like it’s a area the place, you realize, it’s nice to have just a few totally different alternate options for patrons, proper? You do wanna have sort of both free or low cost choices for like hobbyists and so forth. That’s not fairly the place we play with this providing. Like we figured let’s simply concentrate on the sort of manufacturing grade and kind of enterprise tier buyer section. That’s sort of the place we wanna play. And that’s the place we expect we’ll succeed essentially the most. After which we’ll let different firms focus extra on sort of the extra downstream and broader pool of consumers. In order that’s the place it’s at this time. I feel there’s nonetheless, and we assist like 25 totally different chains. You talked about a few of them earlier. Like I stated, now we have distinctive information units which might be powered by, for instance, our pockets label information, which makes it potential for folks to create actually distinctive insights that you would be able to’t get anyplace else. And more and more we’re going to be focusing extra on just like the API endpoints surrounding this. So what we’ve discovered is that, you realize, we do have a person interface the place you possibly can simply go in and write SQL queries, announce a question. You’ll be able to create dashboards, charts, share them together with your staff, all these things. However we realized that many individuals really simply need to get the info the place they’re, proper? In order that’s why we added, properly, like now we have assist for Google BigQuery, which is an information warehouse know-how such that if you’re already on that very same know-how, you possibly can actually get all of our information units in your information warehouse instantly. And so we’re exploring how we are able to do this with different information warehouse and applied sciences like Snowflake and so forth. And naturally, creating higher API endpoints. However yeah, that’s mainly what Nansen Question is. I feel for many who are listening, there could be extra investor sorts. So that is extra like if you happen to’re really, you realize, constructing an organization, constructing a product, then this can be a nice product to discover.
Matt Zahab
Nansen Question’s for the Huge Canine, and Nansen 2, which we’ll get into is for the traders. And we’ll get into that in a single second, however till then, we’ve bought to provide an enormous shout out to our sponsor of the present, PrimeXBT, longtime associates of cryptonews.com and longtime sponsors of the Cryptonews Podcast. We love PrimeXBT as they provide a sturdy buying and selling system for actual newbies {and professional} merchants. It doesn’t matter if you happen to’re a rookie or a vet, you possibly can simply design and customise your layouts and widgets to greatest suit your buying and selling type. PrimeXBT can be working an unique promo for listeners of the Cryptonews Podcast. Use the promo code, CRYPTONEWS50, to obtain 50% of your deposit credited to your buying and selling account. Once more, that’s CRYPTONEWS50 all one phrase to obtain 50% of your deposit credited to your buying and selling account. Again to the present with Alex right here. We bought to get into Nansen 2. Final yr, you guys launched Nansen 2. AI functionalities, which to my data was kind of the large horny a part of the launch. I imply, who doesn’t love that? Simply reconstructed from its foundations, sensible segments, extra indicators, you title it. Stroll me via Nansen 2 and the way you guys launched that as a result of that was fairly spectacular.
Alex Svanevik
Yeah, so I feel, once more, simply to sort of return to the backstory of why we went Nansen 2, it was really began as a result of we realized that the tech stack we had have been giving us slightly little bit of complications, each when it comes to with the ability to shift new options, in addition to the efficiency that I used to be speaking about earlier was sort of giving us some points. We felt prefer it wasn’t loading quick sufficient and issues like that. And so what we determined to do was to rebuild the entire product from the bottom up. In fact, we may nonetheless make use of numerous the nice work on the info platform aspect of issues, however although we had some enhancements we needed to make. So the sort of impetus for why we needed to create an impediment was principally round our personal means to only shift new options quick and likewise be sure our prospects had a very snappy expertise after they used the product. It felt slightly bit clunky and gradual. That was among the suggestions we’ve been getting from customers over time. However then once we determined to try this, we additionally thought, hey, this can be a nice likelihood for us to essentially degree up the person expertise extra broadly and likewise to shift a few of these revolutionary options that we had been dreaming of constructing for a very long time that we had been battling due to the previous tech stack. And so now from the person’s perspective, whenever you begin utilizing Nansen 2, I feel particularly if you happen to’re accustomed to Nansen 1, what you’ll discover straight away is to begin with, it’s simply means sooner and it’s like 100 occasions sooner in some circumstances. Should you click on on both you’re utilizing a profiler, which lets you search for a pockets or perhaps a cluster of wallets or an entity like a Binance or a 3 arrows or Alavida or what have you ever, you are able to do that and it masses tremendous rapidly and it provides you that overview that individuals count on from Nansen 1 that you just get the soothing capabilities that you really want and it masses tremendous quick. In order that’s the primary half. The second half is the person expertise, as I stated earlier than, is simply much more streamlined. So in Nansen 1, you wanted to know which dashboard to go to if you happen to needed to do one thing and that was sort of inhibiting for lots of people. It’s like, do I take advantage of NFT God Mode, NFT Paradise, like what’s the dashboard I should be utilizing to only reply this query? And we’ve sort of abstracted all of that away to the purpose the place if you happen to go into Nansen 2 at this time, you simply smash command Ok, which brings us the search bar and also you simply enter no matter it’s you want. You paste in a pockets handle, you write Pudgy Penguins or an entity assortment, you write the image of a token, you write the title of an entity like a Binance or Coinbase, no matter, and we simply take you to the correct display screen. So it seems like sort of a trivial factor, however it’s really an enormous enchancment within the person expertise. You don’t must assume an excessive amount of about tips on how to get from A to B. Possibly there’s an analogy the place we’re going again to the Singapore story on like we simply need to make issues very environment friendly. You don’t need this paperwork and a maze of stuff, you simply need to go straight to the purpose and that’s what we helped customers do. After which the very last thing is the revolutionary options that I discussed and the in all probability the 2 most cherished options that now we have shipped with Nansen 2 are indicators, which is sort of like a feed. So if you happen to don’t have a really clear concept of what you’re in search of, you possibly can simply go into indicators and also you get a feed nearly like a Twitter feed and it simply surfaces anomalous occasions from the blockchain. So like right here’s a token that had 100 occasions the quantity of centralized trade influx that it usually has. Possibly you must take a look at that. Possibly there’s one thing occurring there.
Matt Zahab
So it’s gold nuggets.
Alex Svanevik
It’s like, I don’t know what I must be taking a look at at this time. Let me simply take a look at the feed and possibly I’ll simply discover one thing attention-grabbing. After which you possibly can drill down from there, proper? So the mission of our firm is to floor the sign and create winners in the way forward for finance. And so that is actually what that function does. It simply surfaces the sign for you as a result of there’s a lot stuff taking place on chain, particularly with 20 plus totally different chains that you just assist. So, and that’s AI powered as properly. It’s just like the stuff that the AI thinks you must take a look at as a result of it’s anomalous one way or the other is what’s going to point out up in that sheet. In order that’s the sign. The second function is wise segments, which, you realize, like I stated, such as you talked about earlier than, now we have lots of of thousands and thousands of pockets labels, proper? That’s one of many issues that we’re recognized for. However we additionally realized that we don’t need to be the bottleneck for folks to create their very own pockets labels and teams of wallets. And so we created this function referred to as sensible segments the place you possibly can determine your personal standards of wallets. You’ll be able to say, hey, I need to take a look at each pockets that made at the least, you realize, 10 ETHs and income buying and selling Board Apes. And also you simply put that in as your standards. And now you get slightly section of the, let’s name it, you realize, 80 wallets that did that. I assist slightly extra, few hundred wallets that did that. And that section, now you can profile them collectively within the sense that like, what different issues are they doing? Which tokens do they personal, NFTs, which transactions have they made in actual time as a section collectively. And you may pull that section into, you realize, the opposite components of Nansen. Like you possibly can filter utilizing the section if you happen to’re taking a look at a selected token or NFT. And so, yeah, that is one other, I feel, tremendous highly effective function that now we have shipped in a fundamental kind, however it’s going to get much more highly effective within the subsequent weeks. And naturally, yeah, loads of these items, like I stated at first, are AI powered, proper? Every part from the search to indicators, to after all, loads of stuff that occurs on the backend as regards to the attribution and labeling of addresses. Even I feel the congestion of knowledge will over time change into extra AI supported, as a result of you might not need to have information engineers spend a ton of time writing sort of transformer code and parsing code. It in all probability is sensible to have AI assist for that as properly. That’s the abstract of what Nansen 2 does. But it surely’s early days nonetheless. And I feel if you happen to’ve tried it, you sort of will see a cloth enchancment from Nansen 1, however you must also know that that is early and now we have a ton of actually thrilling options popping out this yr for it.
Matt Zahab
Alex, you’ve been on a roll. I want you had extra time right here, man. This has been an excessive amount of enjoyable. A pair extra questions and we’ll wrap up. Success story. I don’t know if you happen to can inform me or not. I do know the listeners would completely love this, however somebody alongside the best way will need to have used Nansen to discover a particular sign and made an absolute shit ton of cash. And we, on behalf of all of the listeners and everybody at Cryptonews, we’d love if you happen to may give us just a bit tiny, incy story of possibly somebody. You don’t have to drop names, however identical to the Board Ape instance you stated, the place somebody discovered one thing, guess a shit ton on it, and made a fair larger shit ton. I’d love you would give us slightly nugget of gold right here.
Alex Svanevik
Yeah, there are just a few totally different ones. Most likely essentially the most well-known one is MEDCollector, which is a Twitter account. And he wrote a thread about how he made an insane amount of cash flipping NFTs utilizing Nansen. I can’t bear in mind the precise numbers. I feel it’d’ve been one thing like 10 ETH to 800 ETH or one thing ETH flipping NFTs utilizing Nansen. And by the best way, simply to be very clear, that’s, to his credit score, he’s the hero. We’re simply sort of the, like he’s Batman. We’re the Batmobile, proper? Like he’s the man really doing it. We’re only a software. However the cool factor was he was not doing that on only one bat, proper? He was doing it persistently and simply grew the portfolio. In order that’s unimaginable. And I’ve met them in particular person, which is cool. There’s additionally one other story of considered one of our prospects who I feel put 500 bucks on a token that they found in Nansen and turned it into one and a half million {dollars}. There’s additionally a tweet that’s on the market and now we have it in a few of our advertising and marketing materials as a result of it’s fairly wonderful. After which there are after all many different examples. There’s one other one the place there was a fund that had some huge cash, like lots of of thousands and thousands of {dollars} in anchor when the Terra factor was taking place. They usually had arrange Nansen sensible alerts in order that they bought notifications when liquidity was being drained from the curve swimming pools. And due to these notifications, in addition they exited the curve swimming pools and mainly saved in all probability like possibly lots of of miles, at the least tens of thousands and thousands of {dollars} have been saved as a result of they have been in a position to get out quick sufficient. They usually have instructed me that the sensible alerts mainly saved them.
Matt Zahab
They owe you a dinner.
Alex Svanevik
Sure, yeah. It’s not solely sort of the moonshot shit cash that go 1000X. It can be used for like defensive functions to guarantee that they don’t lose their cash, proper? So yeah, and there are a ton of different tales however these are three that come to thoughts for now.
Matt Zahab
It’s so cool. Alex, absolute deal with. Thanks a lot for approaching. This was a blast. I can’t wait to have you ever on for spherical two. This was an excessive amount of enjoyable and we barely scratched the floor. You additionally had some electrical tales that you just instructed me earlier than the pod. And folk, we’ll save these for spherical two as a result of Alex, I imply, you’d be up there for one of many folks to have, in all probability not one, however possibly one dozen pints with and shoot the shit over some crypto tales. However we’ll have to attend till subsequent time. Till then, wishing you and the staff all the most effective. Earlier than you allow us to go, please allow us to all know the place everybody can discover you personally and Nansen on-line and on socials.
Alex Svanevik
Yeah, so the most effective is to go to www.nansen.ai to check out our merchandise. You can too discover me on Twitter, @ASvanevik, simply search for a really cute Pudgy Penguin. You can too discover Nansen’s Twitter account @nansen_aiSo thanks for having me, Matt. It was nice to be right here.
Matt Zahab
Hey, pudgies have been ripping. I do know you’ve been calling that for some time, however no free advertisements on the podcast, however we’re going to provide them one. Why do they ripen a lot? What’s the take care of pudgies right here?
Alex Svanevik
You realize, I used to say three Cs, however it’s really now 4 Cs, cute group content material. For instance, they’ve like 10 billion views on DFC and so they have multiple million followers on Instagram. However the fourth C can be the CEO, Luca, proper? Luca is a fucking wonderful operator and one of many really nice ones in crypto and he’s like 26 years previous or one thing. Actually an unimaginable operator. I’m really serving to on a name with him now in 4 minutes. So it’s the 4 Cs. That’s why Pudgy is doing so properly, I feel.
Matt Zahab
4 C’s, I adore it. Alex, thanks once more, man. Actually recognize it, and might’t watch for subsequent time.
Alex Svanevik
Thanks a lot, Matt.
Matt Zahab
Of us, what an episode with Alex Svanevik, the one and solely from Nansen, CEO and Co-Founder. Big shout out to him and the staff for making this occur. Should you guys loved this one, and I hope you probably did, please do subscribe. It could imply the world to my staff and I, to the staff. Love you guys, thanks for every thing. Justas my wonderful sound editor, you’re the man. And again to listeners, love you guys. Carry on rising these baggage, and carry on staying wholesome, rich, and pleased. Bye for now, and we’ll discuss quickly.