Mnemonic Raises $6M for AI-Backed NFT Data and Analytics for Web3 Developers
Mnemonic, a startup specializing in providing actionable non-fungible token (NFT) data and analytics for enterprises and Web3 developers, has secured $6 million in a seed extension round. The funding round was led by Salesforce Ventures, with participation from Polygon Ventures, Orange DAO, FIN Capital, and FJ Labs. Notably, Salesforce plans to integrate Mnemonic’s technology into its Web3-related customer relationship management (CRM) products.
The investment comes at a time when infrastructure projects that aim to bridge the gap between Web2 and Web3 technologies have gained significant attention, amidst a prolonged crypto bear market. AI-related technologies have also experienced a surge in popularity within the crypto industry, with notable investments in companies like Gensyn, a blockchain-based computing resource provider for AI.
Mnemonic’s objective is to empower organizations to thrive in the Web3 environment by offering a comprehensive view of customer interactions across traditional and emerging digital channels. The company’s APIs provide real-time NFT data, analytics, and insights, enabling developers and enterprises to build Web3 products and experiences more efficiently. Mnemonic’s data includes advanced sales price data, marketplace activity, NFT trait details for filtering and recommendations, as well as spam detection to enhance user experience and protect against less reputable NFT collections.
The funding will support Mnemonic in expanding its use cases, enhancing analytics capabilities, reaching a wider market, and strengthening its partner ecosystem. The company is currently supporting the testnet of Base, a layer 2 project incubated by Coinbase, and plans to provide its Base NFT API once the mainnet is launched in the coming months.
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