BitsCrunch Has Raised $3.6M in Funding for NFT AI-based Analytical Tools

BitsCrunch was invested by many major VCs

BitsCrunch, a firm that analyzes the crypto and NFT ecosystems, has raised $3.6 million in a round led by Animoca Brands, Coinbase Ventures, Crypto.com Capital, and others.

To determine the fair price of NFTs, identify wash trading warnings, and determine whether an NFT is a copy or forgery of the genuine asset, BitsCrunch utilizes AI-based analytical tools. The company’s headquarters are in Germany and India.

The firm believes that investors in the rapidly expanding space require better data to protect them from imposters and being duped by fake trading volume.

Vijay Pravin Maharajan, CEO of BitsCrunch, said that his company currently supports NFTs on Ethereum (ETH), Polygon (MATIC), and Avalanche (AVAX), but that he plans to use the funds “to expand the team that can focus on securing many prominent blockchains like Solana (SOL), Polkadot (DOT), Algorand (ALGO), and others.”

The round’s lead investor, Animoca Brands, has been one of the most active VC firms in the NFT space. Due to the level of profit in its investment portfolio, which includes Axie Infinity, The Sandbox, and many other NFT-based projects, it was valued at $5 billion last month.

BitsCrunch, according to Animoca co-founder Yat Siu, is in a good position to help investors make informed investment decisions. He went on to say that it can “contribute meaningfully to the emerging open metaverse’s safety and security.”

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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