In an unique interview with cryptonews.com, Alex Svanevik, CEO and Co-founder of Nansen, talks in regards to the launch of Nansen question and Nansen 2, the significance of information 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 a knowledge scientist and administration guide 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 robust 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 completely happy 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 allows crypto groups and traders to research billions of on-chain information factors with important market indicators
- Knowledge is likely one of the most vital items of Web3 infrastructure
- How do AI and Blockchain Knowledge mining converge
- Launch of Nansen question and Nansen 2
- The 4 C’s – Cute, Neighborhood, Content material, CEO
Full Transcript Of The Interview
Matt Zahab
Girls and gents, welcome again to the Cryptonews Podcast. We’re buzzing as at all times. Received to begin off by apologizing for the lights. We’re recording, not tremendous late, however late sufficient. Usually, we obtained some good daylight on me in Mexico. I’m recording at 7:20 p.m. tonight as a result of we’ve got the one and solely Alex Svanevik on the present at the moment. He’s an entire 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 a knowledge scientist and administration guide 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 at all times tremendous cool if you’re an entire day forward of somebody, you recognize, recording.
Alex Svanevik
I’m residing sooner or later.
Matt Zahab
You’re residing sooner or later. You have been chowing down on some only a lovely mackerel breakfast earlier than we obtained began right here. I simply completed burritos for dinner. You simply completed a great outdated brekkie. We’d like to see it. Earlier than the present you and I have been capturing the shit just a little and also you had a pair fairly superior tales. I obtained to get you to inform these. However earlier than that, we obtained a contact in your unimaginable little tweet about Singapore. You will have been in Singapore for the final six years. I’ve by no means been. It’s on my to do checklist. Looks as if one of many sweetest locations on the planet. You touched over a pair good factors. You may inform them higher than I can. I feel this might be an ideal place to begin. 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 international locations. So I really feel like you may have a comparatively good pattern to match, you recognize, Singapore with, I don’t know the place to begin. I feel to me, it’s really about values. , 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 recognize, created since Lee Kuan Yew form of began reworking this place from a swamp to a metropolitan city-state. And that’s most likely a little bit of an actual period, however that’s no less than how individuals clarify it. So it’s very meritocratic. It’s very environment friendly, which I feel most individuals know, however if you dwell it everyday, it makes an enormous distinction. Like if it is advisable to get from A to B, you will 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 visitors, you recognize, it’s usually not jammed however on stuff you will get from A to B in like 10 max, quarter-hour. After which for those who, if it is advisable to get something finished within the public sector, like for those who 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 wish to get like your ID card and you need to present up at 4 AM within the morning, this lengthy queue outdoors, then you definitely lastly make it. And also you be taught that there’s one thing incorrect with their system. You need to 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 fascinating for people who find themselves in crypto as a result of it’s form of getting that important mass of a crypto scene right here, which is kind of thrilling. Like I feel some individuals, sorry, some locations like Hong Kong the place it’s a dwell can be fascinating. And I really like Hong Kong, however the crypto scene is a bit one sided and it’s principally form of the traders who’re based mostly there. Whereas in Singapore, I feel you may have each traders, you may have founders of small protocols, corporations. Then you may have individuals who work within the large crypto corporations like Coinbase, Binance, and so forth. You’re based mostly right here. So you may have a very form of wealthy and numerous crypto scene that I actually get pleasure from. I imply, I might most likely spend the entire podcast speaking about Singapore, frankly, however yeah, it’s an ideal place to dwell. I actually prefer it. The climate is usually fairly good. For those who like sizzling climate and it’s in an ideal location so you may journey to different nice locations like Thailand, Bali, Vietnam, and so forth.
Matt Zahab
So cool. Let’s leap proper into Nansen right here. Once I first heard of Nansen, I imply, it was fairly near once I obtained within the house not too way back. I wasn’t as early as you have been, however you and your workforce’s progress has been completely unimaginable. Kudos and big shout out and properly deserved to you guys. Earlier than we leap into the entire thing, did you ever suppose that such as you guys would actually be the behemoth of something analytics and information associated in the entire house? Like, trigger once more, you recognize, you had a, you left a great 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 trustworthy, once we began Nansen, we form of considered it as a possible cashflow enterprise. Like, I feel that’s how we didn’t suppose, let’s exit with the spoil the ocean imaginative and prescient to turn out to be like a trillion greenback firm. It was extra like, hey, we all know that there are particular unsolved issues in crypto, and specifically, quite a lot of the information was form of both non-existing, the analytics have been incorrect in lots of locations. And there have been simply so many form of primary analytical questions that you simply weren’t capable of reply again once we began, specifically almost about what’s occurring on-chain. That’s what we’re actually good at. And so we thought if we simply clear up these issues, we’re most likely going to have paying clients who wish to reply these questions. They usually’ll wish to pay as a result of traders on the finish of the day need to earn more money. So if we’re serving to them make more cash, then presumably they are going to be okay paying a subscription charge 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 clients 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 venture. 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 individuals. You guys have to decide to this full-time. And they also did. And we raised a seed spherical in order that we might rent individuals, regardless that we have been making revenues, really. However you continue to wish to just be sure you come up with the money for within the financial institution, if issues change, as a way to pay your workers and so forth. So we did a seed spherical. We began hiring our first individuals. After which the subsequent 12 months, 2021, was unimaginable. And we did a Sequence A with A16C, we had a Sequence B with Excel and plenty of different nice traders later within the 12 months. And yeah, I imply, some VCs we spoke to in 2021 mentioned that we have been actually one of many prime 5 quickest rising SaaS corporations that I’ve ever seen by way of the income progress. So yeah, that was unimaginable. However it was additionally good timing with each DeFi actually taking off. And so it was nice. However it’s a great feeling for certain. And then you definitely understand, really, we will goal a lot greater right here. After which you need to calibrate your imaginative and prescient and your aspirations, after all, which is an efficient factor, clearly. After which yeah, we’ve by no means appeared again since.
Matt Zahab
I really like that. Little bit of a bizarre query right here. You guys pull a shitload of information from, I imply, all the large boy, large 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 simplest to drag information from and which chain is the toughest to drag information from? Which chain offers you type of the sexiest and most enrichful and forward-looking, you recognize, pattern esque information and are some you’re identical to, oh, that is hogwash. That is nonsense. I’d love for those who might type 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 simplest or which one is the toughest. That’s a reasonably simple reply. The simplest one for us is Ethereum, as a result of that’s the one we’ve at all times began with, and we’ve developed the experience to do this. It doesn’t have an insane quantity of information quantity, so it’s manageable with the block instances 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 completely totally different paradigm. However that’s why I say the questions you requested are just a little 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 onerous for us as a result of it’s so totally different and the quantity of information is a lot better. However we nonetheless do it as a result of our clients need Solana information, and so you continue to try this. However I might say we’ve got 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 form of type of industrialized the ingestion of EVM chains to the purpose the place if we determine to onboard a brand new EVM chain, we will try this in ours, in principle. In fact, there’s extra work later with upkeep. You need to do attribution or labeling of the wallets which can be energetic on the chain. That takes time. However the precise getting all the information into our database is fairly simple at this level. However it took a few years to develop the know-how to do it in such a streamlined method.
Matt Zahab
And current day we’ve got, you recognize, 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 recognize, arms within the cookie jar we will really hearken to. You will have an MSC in synthetic intelligence from the College of Edinburgh. So, you recognize, I’ve requested lots of people, what’s AI going to do to crypto? You really studied this shit. what’s occurring. Particularly because the CEO of Nansen, you guys are the bread and butter of information. How have you ever specifically, you and your workforce used AI to, you recognize, 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 major 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 progressive options and likewise deepen our information notes in a fashion that was not doable just some years in the past, proper? So we form 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 we’ve got a machine studying mannequin that offers you an estimate, nearly like I say, hi there, this estimate. And it’s all machine studying energy. And so, after which by way of the attribution, the labeling and so forth, that’s an space the place we can be utilizing AI way more going ahead. However yeah, so the primary space is simply making the product higher. The second space, which I don’t suppose is exclusive to us as an organization by any means, and positively not distinctive to the blockchain trade both, is utilizing AI to extend our organizational productiveness and our particular person productiveness. So that is form of the, I assume that is the place, for those who learn the newspapers, that is the place many individuals talked in regards to the implications of AI, like AI goes to take our jobs and stuff. I feel in my expertise, what finally ends up occurring is that you simply simply enhance productiveness fairly dramatically. So in case you are working with something content material associated, proper? It might really be video, it could possibly be audio, however usually it’s textual content, after all, for those who’re writing content material advertising, for those who’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 enhance productiveness within the sense that you simply’re getting extra output with much less enter, proper, and the enter is often ours. So the way in which I take into consideration this in a really broad sense is that everytime you’re doing work, there’s type of three major belongings you do. The primary one is that there’s a immediate, proper? You will have 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 at all times from probably 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. Perhaps you try this with another person, you’re high quality assurance another person’s work. With AI, the fascinating factor is you find yourself spending like most of your time solely on the primary and the final bit, which in a method 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 for those who wanna iterate, proper? As a result of usually you high quality guarantee, you return and then you definitely strive once more and also you form of give suggestions to the AI as you’re working with ChatGPT, for instance. And so at Nansen, one in every of our objectives this quarter is to simply collectively spend 5,000 hours working with AI. And the explanation we set that objective was I spotted that lots of people don’t even have the intestine reflex of attempting AI first for a process since you’re not used to that, proper? Such as you’re used to simply doing stuff your self, however we’ve got to coach individuals to say like, hey, I’m writing a, I’m attempting to make an inventory of strategic accounts that our gross sales workforce needs to go after, for instance. That’s like, can you utilize AI to do this? And it seems completely you may, like me and our senior supervisor of Radley Ops yesterday, we’re spending like two, three hours actually with ChatGPT constructing out an inventory 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 should use AI and I might say specifically ChatGPT for thus 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 appropriate method and if I give it constructive and clear suggestions if it does ship on my expectations. Anyway, so I feel. If we get the workforce 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 suppose 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 instances. After which when you get the subsequent quarter, as a result of we plan orders by way of targets and key outcomes and so forth, OKRs. And if you get the subsequent quarter, we will begin taking a look at, let’s have a look at the outputs and the outcomes we’re creating with AI. However for now, I simply wish to deal with the enter. It’s like, put as many hours as you may into the method of working with AI. After which the perfect 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 form of creating nice interfaces to the information on Linux powered by AI, in addition to deepening our information mode. After which there’s the organizational productiveness piece the place there are lots of rules. Like one precept is, why AI first? One other precept is make AI a workforce member. Like it’s best to actually consider AI as workforce 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 drawback? You form of must shift your psychological mannequin in direction of this not being software program, nevertheless it’s like one other workforce member, which is form 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 method. So yeah, it doesn’t reply your query on particularly AI for crypto, however that’s no less than how we give it some thought.
Matt Zahab
I completely love that. You type of fired me up there just a little. I’m not going to lie too. I really feel such as you’re the form 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 fact is it’s dearer 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 could possibly be serving to you with and doing a shot.
Matt Zahab
Are you aware how many individuals and shoppers I speak 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 keep in mind a 12 months in the past when this was not, you recognize, like I nearly neglect about life earlier than it. And it’s one. Yeah, so you utilize it your self. It’s in actual fact, 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 recognize, Google Chrome, C H A, growth, that simply pops, you recognize what I imply? It’s simply wild the way it works. That’s a great signal. Yeah, shout out Sam Altman, OpenAI and the workforce. You guys are unimaginable. Nansen Question, this was fairly the launch. I imply, simply enterprise prepared blockchain information, doing all of it at the moment 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 significantly better elevator pitch than I can, so I’m going to throw the ball over to your finish of the courtroom. What precisely is Nansen Question and why is it so highly effective? And I’d love you to elucidate how a lot assist it’s giving to large, massive enterprises.
Alex Svanevik
Yeah, so the perfect story right here is mainly, we constructed the perfect on-chain analytics product for traders, proper? And in doing that, we realized that, hey, we mainly have constructed probably the most highly effective information platform that powers this product. Why don’t we give entry to that underlying information platform straight? It’s a bit just like the form 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 purchasers 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 will get entry to numerous information by way of APIs, usually without spending a dime or very low cost. However the issue is that quite a lot of that stuff will not be essentially enterprise grade, and it’s not one thing you’d wish to form 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 we’ve got distinctive information units that you simply can’t get wherever else, that we had extraordinarily broad protection of chains, after which additionally greater order issues like DEXs, NFT marketplaces, and so forth. After which total, the platform itself was very performant with the perfect 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 probably the most success is surveying the form of prime tier crypto groups within the house, like an OpenSea or Arbitrum or Consensus, Binance, Coinbase, just like the form of actually nice groups that understand that perhaps having like a knowledge platform and having all these information pipelines in home will not be an ideal thought as a result of it simply distracts us from our core mission, proper? Like Coinbase will not be a knowledge firm. , it needs to extend the financial freedom on this planet and primarily, after all, they try this by way of providing an ideal change. And so as a substitute of them spending a ton of time internally constructing out stuff, it’s really way more economical to simply purchase this from us, proper? In order that’s the form of primary premise of why we constructed Nansen Question and the place we’ve had probably the most success. I additionally really feel like it’s a house the place, you recognize, it’s nice to have a couple of totally different alternate options for purchasers, proper? You do wanna have form 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 deal with the form of manufacturing grade and type of enterprise tier buyer phase. That’s form of the place we wanna play. And that’s the place we predict we’ll succeed probably the most. After which we’ll let different corporations focus extra on form of the extra downstream and broader pool of shoppers. In order that’s the place it’s at the moment. I feel there’s nonetheless, and we help like 25 totally different chains. You talked about a few of them earlier. Like I mentioned, we’ve got distinctive information units which can be powered by, for instance, our pockets label information, which makes it doable for individuals to create actually distinctive insights you can’t get wherever 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 recognize, we do have a consumer interface the place you may simply go in and write SQL queries, announce a question. You may create dashboards, charts, share them together with your workforce, all these things. However we realized that many individuals really simply wish to get the information the place they’re, proper? In order that’s why we added, properly, like we’ve got help for Google BigQuery, which is a knowledge warehouse know-how such that in case you are already on that very same know-how, you may actually get all of our information units in your information warehouse instantly. And so we’re exploring how we will try 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 individuals who are listening, there may be extra investor varieties. So that is extra like for those who’re really, you recognize, constructing an organization, constructing a product, then it is a nice product to discover.
Matt Zahab
Nansen Question’s for the Large 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 obtained to present an enormous shout out to our sponsor of the present, PrimeXBT, longtime pals of cryptonews.com and longtime sponsors of the Cryptonews Podcast. We love PrimeXBT as they provide a strong buying and selling system for actual novices {and professional} merchants. It doesn’t matter for those who’re a rookie or a vet, you may 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 obtained to get into Nansen 2. Final 12 months, you guys launched Nansen 2. AI functionalities, which to my information was type 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 by way of 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 form 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 just a little little bit of complications, each by way of with the ability to shift new options, in addition to the efficiency that I used to be speaking about earlier was form 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 might nonetheless make use of numerous the nice work on the information platform facet of issues, however regardless that we had some enhancements we needed to make. So the form of impetus for why we needed to create an impediment was principally round our personal means to simply shift new options quick and likewise ensure that our clients had a very snappy expertise after they used the product. It felt just a little bit clunky and sluggish. That was a few of the suggestions we’ve been getting from customers through the years. However then once we determined to do this, we additionally thought, hey, it is a nice likelihood for us to actually stage up the consumer expertise extra broadly and likewise to shift a few of these progressive options that we had been dreaming of constructing for a very long time that we had been battling due to the outdated tech stack. And so now from the consumer’s perspective, if you begin utilizing Nansen 2, I feel particularly for those who’re acquainted with Nansen 1, what you’ll discover immediately is to begin with, it’s simply method quicker and it’s like 100 instances quicker in some instances. For those who 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 offers you that overview that individuals count on from Nansen 1 that you simply 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 consumer expertise, as I mentioned earlier than, is simply much more streamlined. So in Nansen 1, you wanted to know which dashboard to go to for those who needed to do one thing and that was form 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 simply reply this query? And we’ve form of abstracted all of that away to the purpose the place for those who go into Nansen 2 at the moment, you simply smash command Okay, 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 appropriate display screen. So it seems like form of a trivial factor, however it’s really an enormous enchancment within the consumer expertise. You don’t must suppose an excessive amount of about easy methods to get from A to B. Perhaps there’s an analogy the place we’re going again to the Singapore story on like we simply wish to make issues very environment friendly. You don’t need this paperwork and a maze of stuff, you simply wish to go straight to the purpose and that’s what we helped customers do. After which the very last thing is the progressive options that I discussed and the most likely the 2 most cherished options that we’ve got shipped with Nansen 2 are indicators, which is form of like a feed. So for those who don’t have a really clear thought of what you’re on the lookout for, you may 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 instances the quantity of centralized change influx that it usually has. Perhaps it’s best to have a look at that. Perhaps 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 the moment. Let me simply take a look at the feed and perhaps I’ll simply discover one thing fascinating. After which you may 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 occurring on chain, particularly with 20 plus totally different chains that you simply help. So, and that’s AI powered as properly. It’s just like the stuff that the AI thinks it’s best to have a look at as a result of it’s anomalous one way or the other is what’s going to indicate up in that sheet. In order that’s the sign. The second function is sensible segments, which, you recognize, like I mentioned, such as you talked about earlier than, we’ve got lots of of hundreds of thousands of pockets labels, proper? That’s one of many issues that we’re recognized for. However we additionally realized that we don’t wish to be the bottleneck for individuals 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 may determine your individual standards of wallets. You may say, hey, I wish to have a look at each pockets that made no less than, you recognize, 10 ETHs and income buying and selling Board Apes. And also you simply put that in as your standards. And now you get just a little phase of the, let’s name it, you recognize, 80 wallets that did that. I help just a little extra, few hundred wallets that did that. And that phase, 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 phase collectively. And you’ll pull that phase into, you recognize, the opposite elements of Nansen. Like you may filter utilizing the phase for those who’re taking a look at a particular token or NFT. And so, yeah, that is one other, I feel, tremendous highly effective function that we’ve got shipped in a primary kind, nevertheless it’s going to get much more highly effective within the subsequent weeks. And naturally, yeah, quite a lot of this stuff, like I mentioned to start with, are AI powered, proper? All the pieces from the search to indicators, to after all, quite a lot of stuff that occurs on the backend almost about the attribution and labeling of addresses. Even I feel the congestion of information will over time turn out to be extra AI supported, as a result of you could not wish to have information engineers spend a ton of time writing form of transformer code and parsing code. It most likely is sensible to have AI help for that as properly. That’s the abstract of what Nansen 2 does. However it’s early days nonetheless. And I feel for those who’ve tried it, you form of will see a fabric enchancment from Nansen 1, however you must also know that that is early and we’ve got a ton of actually thrilling options popping out this 12 months 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 for those who can inform me or not. I do know the listeners would completely love this, however somebody alongside the way in which 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 for those who might give us just a bit tiny, incy story of perhaps somebody. You don’t have to drop names, however identical to the Board Ape instance you mentioned, the place somebody discovered one thing, wager a shit ton on it, and made an excellent larger shit ton. I’d love you may give us just a little nugget of gold right here.
Alex Svanevik
Yeah, there are a couple of totally different ones. Most likely probably the most well-known one is MEDCollector, which is a Twitter account. And he wrote a thread about how he made an insane sum of money flipping NFTs utilizing Nansen. I can’t keep 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 way in which, simply to be very clear, that’s, to his credit score, he’s the hero. We’re simply form of the, like he’s Batman. We’re the Batmobile, proper? Like he’s the man really doing it. We’re only a instrument. However the cool factor was he was not doing that on only one bat, proper? He was doing it constantly 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 one in every of our clients 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 we’ve got it in a few of our advertising materials as a result of it’s fairly superb. 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 hundreds of thousands of {dollars} in anchor when the Terra factor was occurring. They usually had arrange Nansen sensible alerts in order that they obtained 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 most likely like perhaps lots of of miles, no less than tens of hundreds of thousands of {dollars} have been saved as a result of they have been capable of 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 form of the moonshot shit cash that go 1000X. It will also be used for like defensive functions to ensure 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 simply instructed me earlier than the pod. And people, we’ll save these for spherical two as a result of Alex, I imply, you’d be up there for one of many individuals to have, most likely not one, however perhaps 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 workforce all the perfect. 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 perfect is to go to www.nansen.ai to check out our merchandise. You can even discover me on Twitter, @ASvanevik, simply search for a really cute Pudgy Penguin. You can even 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 present them one. Why do they ripen a lot? What’s the cope with pudgies right here?
Alex Svanevik
, I used to say three Cs, nevertheless it’s really now 4 Cs, cute neighborhood 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 superb operator and one of many actually nice ones in crypto and he’s like 26 years outdated 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 like it. Alex, thanks once more, man. Actually respect it, and may’t look ahead to 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. Large shout out to him and the workforce for making this occur. For those who guys loved this one, and I hope you probably did, please do subscribe. It could imply the world to my workforce and I, to the workforce. Love you guys, thanks for every little thing. Justas my superb 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 completely happy. Bye for now, and we’ll speak quickly.
