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CryptoSlam Merges With Forkast.News To Form New Data Intelligence Platform

Key Points:

To create Forkast Labs, a media intelligence platform for the digital economy that combines journalism and on-chain data analytics, Forkast.News and CryptoSlam are uniting.
Because there was no established way to calculate the true worth of digital assets, Forkast Labs was founded.
By creating a new benchmark, Forkast Labs aims to assess the genuine worth of Web3 and the digital economy.

Forkast Labs, a media intelligence platform for the digital economy that combines on-chain data analytics and journalism, will be created through the merger of Web3 media company Forkast.News and blockchain data analytics company CryptoSlam, according to a January 17 announcement at the World Economic Forum in Davos.

Forkast Labs was founded because there is currently no accepted approach for estimating the underlying value of digital assets, which are typically valued using crypto prices, leading to sentiment-driven volatility.

According to a press release, the two, which are portfolio businesses of the world’s largest software investment firm Animoca Brands, will develop data tools, indices, and methodologies to value the digital economy in addition to providing reporting and analysis.

Bloomberg reports that the deal was steered by Yat Siu, the founder and executive chairman of Animoca Brands. The agreement’s terms weren’t made public.

Forkast Labs wants to create a new benchmark for determining the real worth of Web3 and the digital economy by combining on-chain data intelligence and the media.

The new company will begin by releasing data indices, APIs, and business intelligence tools to gauge the digital economy using real-time on-chain data, establishing a common framework for investors to assess blockchain initiatives.

Angie Lau, a former Bloomberg anchor and the creator of Forkast.News, and Randy Wasinger, the creator of CryptoSlam, will serve as co-CEOs of Forkast Labs. Co-founder of Forkast.News Sarah Chang will serve as COO of the new company.

Angie Lau said in a statement:

“This merger comes at a pivotal moment for the crypto industry. The entire industry has been valued against volatile price movements, which has created a high degree of speculation. Trust in crypto has been eroded as a result, but we have the power to change that with this merger.”

Launched in 2018, CryptoSlam is one of the most-used trackers of transactions of non-fungible tokens (NFTs). For the data provider, Animoca led a $9 million seed round one year ago. The Hong Kong-based blockchain investor and gaming studio have previously taken part in a $1.7 million capital fundraising for the video journalism company Forkast.News.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.