On-chain data platform Nansen said it has acquired decentralized finance portfolio tracker (DeFi) Ape Board for an "eight-figure" sum.
Ape Board lists over 375 protocols on 33 blockchains, including Ethereum, Binance Smart Chain, Avalanche, Solana and Polygon.
Terms of the deal were not disclosed. A spokesperson for Nansen told CoinDesk that the amount paid was in the "eight figures," or over $10 million.
With the acquisition, Nansen aims to provide a broader view of the investment landscape in DeFi, which has surged in the past year. While the total value of DeFi minutes completed (TVL) has fallen 40% since the beginning of the month to $113 billion, it is still six times higher than it was at the start of 2021, according to tracking service DeFiLlama.
Nansen will expand its platform to include portfolio tracking, programmatic access to on-chain data and Web 3-native communications, it announced Tuesday.
The two companies say Ape Board's multichain coverage will give traders a holistic view of the market without having to use multiple platforms to track their holdings and analyze the market.
Nansen plans to combine his analytics with Ape Board's portfolio tracking to create an "all-in-one super app," the spokesperson told CoinDesk.
Ape Board founder Mike Phulsuksombati said the acquisition will "supercharge" both products. "It will take both products to another level that can't be achieved with just one service alone," he said.