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 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 advisor earlier than co-founding Nansen in 2019. Alex can also 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 also 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 be able to see under, and we’re blissful so that you can use it for publication, offered 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
- Information is without doubt one of 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
Girls and gents, welcome again to the Cryptonews Podcast. We’re buzzing as at all times. Bought to start out off by apologizing for the lights. We’re recording, not tremendous late, however late sufficient. Usually, we received 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 immediately. 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 advisor 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 buddy. 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 while 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 received began right here. I simply completed burritos for dinner. You simply completed a superb previous brekkie. We’d like to see it. Earlier than the present you and I have been capturing the shit slightly and also you had a pair fairly superior tales. I received to get you to inform these. However earlier than that, we received a contact in your unimaginable little tweet about Singapore. You might have been in Singapore for the final six years. I’ve by no means been. It’s on my to do listing. Looks as if one of many sweetest locations on the planet. You touched over a pair good factors. You possibly can inform them higher than I can. I believe this could be an excellent place to start out. Inform us why you’re keen on Singapore a lot and the way cool life is there.
Alex Svanevik
Yeah. So I’ve lived, I believe in seven totally different international locations. So I really feel like you will have a comparatively good pattern to match, you realize, Singapore with, I don’t know the place to start out. I believe to me, it’s truly about values. You recognize, I, I actually like Singapore as a result of I really feel just like the tradition right here may be very meritocratic to start with. And that’s how the entire society has been, you realize, created since Lee Kuan Yew type of began remodeling this place from a swamp to a metropolitan city-state. And that’s in all probability a little bit of a precise length, however that’s at the very least how folks clarify it. So it’s very meritocratic. It’s very environment friendly, which I believe most individuals know, however while you dwell it day after day, it makes an enormous distinction. Like if you must get from A to B, you will get a go verify 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 sometimes not jammed however on stuff you will get from A to B in like 10 max, quarter-hour. After which for those who, if you must get something finished within the public sector, like for those who decide up your employment go 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 definately lastly make it. And also you study that there’s one thing incorrect with their system. It’s important to come again like subsequent week or no matter it’s. So it’s, I believe 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 type of getting that important mass of a crypto scene right here, which is kind of thrilling. Like I believe some folks, sorry, some locations like Hong Kong the place it’s a dwell can also be attention-grabbing. And I really like Hong Kong, however the crypto scene is a bit one sided and it’s largely type of the traders who’re primarily based there. Whereas in Singapore, I believe you will have each traders, you will have founders of small protocols, corporations. Then you will have individuals who work within the huge crypto corporations like Coinbase, Binance, and so forth. You’re primarily based right here. So you will have a very type 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 excellent place to dwell. I actually prefer it. The climate is usually fairly good. If you happen to like scorching climate and it’s in an excellent location so you’ll be able to journey to different nice locations like Thailand, Bali, Vietnam, and so on.
Matt Zahab
So cool. Let’s soar proper into Nansen right here. After I first heard of Nansen, I imply, it was fairly near after I received within the area not too way back. I wasn’t as early as you have been, however you and your group’s development has been completely unimaginable. Kudos and big shout out and nicely deserved to you guys. Earlier than we soar 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 a superb job to return 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 type phrases. I imply, to be completely trustworthy, once we began Nansen, we type of considered it as a possible cashflow enterprise. Like, I believe that’s how we didn’t assume, let’s exit with the spoil the ocean imaginative and prescient to develop into like a trillion greenback firm. It was extra like, hey, we all know that there are specific unsolved issues in crypto, and particularly, a number of the information was type of both non-existing, the analytics have been incorrect in lots of locations. And there have been simply so many type of fundamental analytical questions that you simply weren’t capable of reply again once we began, particularly as regards to what’s taking place on-chain. That’s what we’re actually good at. And so we thought if we simply resolve these issues, we’re in all probability going to have paying prospects who wish to reply these questions. And so they’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 payment 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 must decide to this full-time. And they also did. And we raised a seed spherical in order that we may rent folks, though we have been making revenues, truly. However you continue to wish to just remember to find the money for within the financial institution, if issues change, to be able to pay your workers and so forth. So we did a seed spherical. We began hiring our first folks. After which the following 12 months, 2021, was unimaginable. And we did a Collection A with A16C, we had a Collection B with Excel and lots of different nice traders later within the 12 months. And yeah, I imply, some VCs we spoke to in 2021 stated that we have been actually one of many high 5 quickest rising SaaS corporations that I’ve ever seen by way of the income development. 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 a superb feeling for certain. And then you definately notice, truly, we will goal a lot larger right here. After which you need 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 appeared 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, huge 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 tug information from and which chain is the toughest to tug information from? Which chain provides you kind of the sexiest and most enrichful and forward-looking, you realize, pattern esque information and are some you’re identical to, oh, that is hogwash. That is nonsense. I’d love for those who may kind of give us some gold on the professionals and cons of pulling information from sure chains.
Alex Svanevik
I imply, I believe 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 fairly easy reply. The best 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 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 larger. However we nonetheless do it as a result of our prospects need Solana information, and so you continue to do this. However I’d 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 type 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 will do this in ours, in idea. After all, there’s extra work later with upkeep. It’s important to do attribution or labeling of the wallets which might be energetic on the chain. That takes time. However the precise getting all the information into our database is fairly easy at this level. But it surely took a few years to develop the expertise to do it in such a streamlined method.
Matt Zahab
And current day we’ve got, you realize, not crypto associated, however semi-crypto associated. Everybody’s nonetheless on the AI practice. It’s left the station. There’s no likelihood it’s ever coming again. You might be one of many few individuals who can truly chime in and who’s two cents and, you realize, palms within the cookie jar we will truly take heed to. You might have 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 truly studied this shit. You recognize what’s happening. Particularly because the CEO of Nansen, you guys are the bread and butter of knowledge. How have you ever particularly, you and your group 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 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 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 type of consider AI as ubiquitous all through Nansen. It’s not like, right here’s the one AI characteristic. It’s extra prefer it powers our search. It powers the NFT value 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 will likely 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 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 type of the, I suppose 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 believe in my expertise, what finally ends up taking place is that you simply simply improve productiveness fairly dramatically. So in case you are working with something content material associated, proper? It may truly be video, it might be audio, however typically 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 principally 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 simply’re getting extra output with much less enter, proper, and the enter is usually 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 major belongings you do. The primary one is that there’s a immediate, proper? You might have one thing like a drive, hey, I must do the identical, like writing down the identify of the duty or no matter. Then there’s a protracted course of, which traditionally has been at all times 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 for those who wanna iterate, proper? As a result of sometimes you high quality guarantee, you return and then you definately attempt once more and also you type of give suggestions to the AI as you’re working with ChatGPT, for instance. And so at Nansen, certainly one of our objectives this quarter is to simply collectively spend 5,000 hours working with AI. And the rationale we set that aim was I noticed that lots of people don’t even have the intestine reflex of making an attempt AI first for a activity 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 folks to say like, hey, I’m writing a, I’m making an attempt to make a listing of strategic accounts that our gross sales group needs to go after, for instance. That’s like, can you utilize AI to try this? And it seems completely you’ll be able to, 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 stunning factor is that you should utilize AI and I’d say particularly ChatGPT for thus many issues. And even now I’ve been utilizing it extraordinarily actively the final six months, even now I’m realizing daily that like, wow, it’s truly 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 believe. If we get the group to spend 5,000 hours, that works out to about 4 hours every week per individual, 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 instances. After which when you get the following quarter, as a result of we plan orders by goals and key outcomes and so forth, OKRs. And while you get the following 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’ll be able to into the method of working with AI. After which the perfect is that good issues will come from that. So yeah, so principally like these are the 2 areas, proper? To innovate on the product, make a radically higher product. And particularly for us, that’s about type 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 ideas. Like one precept is, why AI first? One other precept is make AI a group member. Like it is best to actually consider AI as group 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 unravel this downside? You type of should shift your psychological mannequin in direction of this not being software program, but it surely’s like one other group member, which is type of bizarre and a bit science fiction, however I believe 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 very 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 type of CEO the place somebody’s like, Hey, Alex, I want 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 might be serving to you with and doing a shot.
Matt Zahab
Are you aware how many individuals and purchasers 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 bear in mind a 12 months 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 actually, 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 a superb signal. Yeah, shout out Sam Altman, OpenAI and the group. You guys are unimaginable. Nansen Question, this was fairly the launch. I imply, simply enterprise prepared blockchain information, doing all of it presently supporting Arbitrum, Avalanche Base, Bitcoin, Sprint, Doge, Ethereum, Solana, Terra, you identify it. You guys are doing, doing all of it. I’d 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 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 huge, massive enterprises.
Alex Svanevik
Yeah, so the perfect story right here is principally, we constructed the perfect on-chain analytics product for traders, proper? And in doing that, we realized that, hey, we principally have constructed essentially 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 type 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 will get entry to plenty of information by APIs, typically without cost or very low-cost. However the issue is that a number of that stuff is just not essentially enterprise grade, and it’s not one thing you’ll wish to type of construct your enterprise on high 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 creating 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 larger order issues like DEXs, NFT marketplaces, and so forth. After which general, 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 believe the place we’ve had essentially the most success is surveying the type of high tier crypto groups within the area, like an OpenSea or Arbitrum or Consensus, Binance, Coinbase, just like the type of actually nice groups that notice that perhaps having like an information platform and having all these information pipelines in home is just not an excellent thought as a result of it simply distracts us from our core mission, proper? Like Coinbase is just not an information firm. You recognize, it needs to extend the financial freedom on this planet and primarily, after all, they do this by providing an excellent alternate. And so as a substitute of them spending a ton of time internally constructing out stuff, it’s truly way more economical to simply purchase this from us, proper? In order that’s the type 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 type 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 type of manufacturing grade and kind of enterprise tier buyer section. That’s type of the place we wanna play. And that’s the place we predict we are going to succeed essentially the most. After which we are going to let different corporations focus extra on type of the extra downstream and broader pool of shoppers. In order that’s the place it’s immediately. I believe there’s nonetheless, and we help like 25 totally different chains. You talked about a few of them earlier. Like I stated, we’ve got 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 could’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 realized is that, you realize, we do have a consumer interface the place you’ll be able to simply go in and write SQL queries, announce a question. You possibly can create dashboards, charts, share them together with your group, all these items. However we realized that many individuals truly simply wish to get the information the place they’re, proper? In order that’s why we added, nicely, like we’ve got help for Google BigQuery, which is an information warehouse expertise such that in case you are already on that very same expertise, you’ll be able to actually get all of our information units in your information warehouse instantly. And so we’re exploring how we will do this with different information warehouse and applied sciences like Snowflake and so forth. And naturally, creating higher API endpoints. However yeah, that’s principally what Nansen Question is. I believe for many who are listening, there may be extra investor sorts. So that is extra like for those who’re truly, you realize, constructing an organization, constructing a product, then it is a nice product to discover.
Matt Zahab
Nansen Question’s for the Massive Canines, 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 received to offer an enormous shout out to our sponsor of the present, PrimeXBT, longtime mates 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 for those who’re a rookie or a vet, you’ll be able to simply design and customise your layouts and widgets to greatest suit your buying and selling model. PrimeXBT can also 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 received to get into Nansen 2. Final 12 months, you guys launched Nansen 2. AI functionalities, which to my information was kind of the large attractive a part of the launch. I imply, who doesn’t love that? Simply reconstructed from its foundations, sensible segments, extra indicators, you identify it. Stroll me by Nansen 2 and the way you guys launched that as a result of that was fairly spectacular.
Alex Svanevik
Yeah, so I believe, once more, simply to type of return to the backstory of why we went Nansen 2, it was truly began as a result of we realized that the tech stack we had have been giving us slightly little bit of complications, each by way of having the ability to shift new options, in addition to the efficiency that I used to be speaking about earlier was type 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. After all, we may nonetheless make use of plenty of the good work on the information platform aspect of issues, however though we had some enhancements we needed to make. So the type of impetus for why we needed to create an impediment was largely round our personal capability to simply shift new options quick and likewise make certain our prospects had a very snappy expertise once they used the product. It felt slightly bit clunky and sluggish. That was a number of the suggestions we’ve been getting from customers through the years. However then once we determined to try this, we additionally thought, hey, it is a nice likelihood for us to actually degree up the consumer 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 fighting due to the previous tech stack. And so now from the consumer’s perspective, while you begin utilizing Nansen 2, I believe particularly for those who’re accustomed to Nansen 1, what you’ll discover instantly is to start with, it’s simply means quicker and it’s like 100 occasions quicker in some instances. If you happen to click on on both you’re utilizing a profiler, which lets you lookup 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 hundreds tremendous rapidly and it provides you that overview that individuals count on from Nansen 1 that you simply get the soothing capabilities that you really want and it hundreds tremendous quick. In order that’s the primary half. The second half is the consumer expertise, as I stated 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 type 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 have to be utilizing to simply reply this query? And we’ve type of abstracted all of that away to the purpose the place for those who go into Nansen 2 immediately, 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 identify of an entity like a Binance or Coinbase, no matter, and we simply take you to the correct display screen. So it seems like type of a trivial factor, however it’s truly an enormous enchancment within the consumer expertise. You don’t should assume an excessive amount of about the best way 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 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 revolutionary options that I discussed and the in all probability the 2 most liked options that we’ve got shipped with Nansen 2 are indicators, which is type of like a feed. So for those who don’t have a really clear thought of what you’re on the lookout for, you’ll be able to 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 alternate influx that it usually has. Possibly it is best to have a look at that. Possibly there’s one thing happening 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 immediately. Let me simply take a look at the feed and perhaps I’ll simply discover one thing attention-grabbing. After which you’ll be able to 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 characteristic 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 simply help. So, and that’s AI powered as nicely. It’s just like the stuff that the AI thinks it is best to have a look at as a result of it’s anomalous in some way is what’s going to point out up in that sheet. In order that’s the sign. The second characteristic is wise segments, which, you realize, like I stated, 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 folks to create their very own pockets labels and teams of wallets. And so we created this characteristic referred to as sensible segments the place you’ll be able to determine your individual standards of wallets. You possibly can say, hey, I wish to have a look at each pockets that made at the very least, you realize, 10 ETHs and earnings 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 help 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’ll be able to filter utilizing the section for those who’re taking a look at a particular token or NFT. And so, yeah, that is one other, I believe, tremendous highly effective characteristic that we’ve got shipped in a fundamental kind, but it surely’s going to get much more highly effective within the subsequent weeks. And naturally, yeah, a number of this stuff, like I stated to start with, are AI powered, proper? Every part from the search to indicators, to after all, a number of stuff that occurs on the backend as regards to the attribution and labeling of addresses. Even I believe the congestion of knowledge will over time develop into extra AI supported, as a result of you could not wish to have information engineers spend a ton of time writing type of transformer code and parsing code. It in all probability is sensible to have AI help for that as nicely. That’s the abstract of what Nansen 2 does. But it surely’s early days nonetheless. And I believe for those who’ve tried it, you type of will see a cloth enchancment from Nansen 1, however you also needs to 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 best way should 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 might love for those who may give us just a bit tiny, incy story of perhaps somebody. You don’t must drop names, however identical to the Board Ape instance you stated, the place somebody discovered one thing, wager a shit ton on it, and made a fair greater shit ton. I’d love you might give us slightly nugget of gold right here.
Alex Svanevik
Yeah, there are just a few totally different ones. In all probability essentially 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 bear in mind the precise numbers. I believe it would’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 type of the, like he’s Batman. We’re the Batmobile, proper? Like he’s the man truly 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 constantly and simply grew the portfolio. In order that’s unimaginable. And I’ve met them in individual, which is cool. There’s additionally one other story of certainly one of our prospects who I believe 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 taking place. And so they had arrange Nansen sensible alerts in order that they received 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 principally saved in all probability like perhaps lots of of miles, at the very least tens of hundreds of thousands of {dollars} have been saved as a result of they have been capable of get out quick sufficient. And so they have instructed me that the sensible alerts principally saved them.
Matt Zahab
They owe you a dinner.
Alex Svanevik
Sure, yeah. It’s not solely type of the moonshot shit cash that go 1000X. It can 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 are going to save these for spherical two as a result of Alex, I imply, you’ll be up there for one of many folks to have, in all probability 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 group 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 offer them one. Why do they ripen a lot? What’s the cope with pudgies right here?
Alex Svanevik
You recognize, I used to say three Cs, but it surely’s truly 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 also 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 previous or one thing. Actually an unimaginable operator. I’m truly serving to on a name with him now in 4 minutes. So it’s the 4 Cs. That’s why Pudgy is doing so nicely, I believe.
Matt Zahab
4 C’s, I find it irresistible. Alex, thanks once more, man. Actually respect it, and might’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 group for making this occur. If you happen to guys loved this one, and I hope you probably did, please do subscribe. It might imply the world to my group and I, to the group. Love you guys, thanks for every part. 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 blissful. Bye for now, and we’ll speak quickly.
