BitCrunch has raised $3.6 million in a private round of funding led by Animoca Brands, including Coinbase Ventures, [Crypto.com] Capital, Polygon Studios, and others. The analytics and security products provide actionable NFT insights and help users get ahead of the NFT asset curve with an AI-powered machine learning program. The figure for crypto-based crimes more than doubled last year, reaching around US$14 billion in worldwide transactions, up from US$7.8 billion in 2020.
Ishan Pandey
Crypto Veteran. Tokenization, DeFi and Security Tokens – Blockchain.
The Rise of Crypto Analytics and Big Data
bitsCrunch, a Crypto data analysis firm focused on securing services utilizing AI to protect the NFT Ecosystem, announced it has raised $3.6 million in a private round of funding led by Animoca Brands, including Coinbase Ventures, Crypto.com Capital, Polygon Studios, and others. The analytics and security products provide actionable NFT insights and help users get ahead of the NFT asset curve with an AI-powered machine learning program.
bitsCrunch is based in Munich, Germany, and has a presence in India. bitsCrunch assists individuals in making NFT buying choices by allowing them to choose which NFTs to purchase. In the previous year, the firm claims to have grown its worldwide user base by more than 8X. Its goal is to protect the environment of the NFT. Animoca Brands, the round’s main investor, is a significant participant in the gamification and blockchain industries, claiming to have a portfolio of over 150 investments in NFT-related businesses and decentralized initiatives.
Animoca Brands is a leader in gaming and blockchain with a portfolio of over 150 venture investments in NFT-related firms and decentralized initiatives that contribute to the open metaverse’s and web 3 development. The additional financing will be used to grow the team, which will concentrate on protecting a number of well-known blockchains.
Yat Siu, the Co-founder of Animoca Brands, said:
With the increasing number of non-fungible digital assets in circulation and the rise in NFT marketplaces, bitsCrunch has the potential to contribute meaningfully to the safety and security of the emerging open metaverse.
Understanding The Need for Big Data in Crypto
Virtual currencies are quite popular these days, and trying to stay away from memecoins like Dogecoin and Shiba Inu and stablecoins like Tether and Binance USD is difficult. However, as bitcoin becomes more popular, so do cryptocurrency crimes. The figure for crypto-based crimes more than doubled last year, reaching around US$14 billion in worldwide transactions, up from US$7.8 billion in 2020. While this increase in virtual currency crimes only accounts for 0.15 percent of all virtual currencies, it represents a 79 percent increase in fraud in this nascent market, even though cryptocurrency transactions have over quintupled (567 percent) in the last year, reaching US$15.8 trillion in 2021.
Big Data is a very successful industry, with sales forecast to reach $203 billion by 2020. To put it another way, by 2030, the blockchain ledger’s data might be valued up to 20% of the global Big Data market and earn up to $100 billion in yearly revenue. Blockchain-based big data tools help investors, governments, and enforcement agencies track trends and ensure compliance with international rules and regulations.
Big Data and blockchain are a combination made in paradise. Today’s real issue is who will be the first to develop the most appropriate and well-trained AI/machine learning model for use on top of blockchain-generated data layers that are distributed, transparent, and immutable. The company that does this will bring in a lot of money and make a lot of money. The aggregate value of the world’s 50 biggest mineral mining businesses is over $700 billion. The value of blockchain-based big data mining systems will likely be in the hundreds of billions in the future.
Catch all the breaking news, and Don’t forget to like the story!
Image credits: Caden Tormey and Shubham Dhage.
The Rise of Crypto Analytics and Big Data
bitsCrunch, a Crypto data analysis firm focused on securing services utilizing AI to protect the NFT Ecosystem, announced it has raised $3.6 million in a private round of funding led by Animoca Brands, including Coinbase Ventures, Crypto.com Capital, Polygon Studios, and others. The analytics and security products provide actionable NFT insights and help users get ahead of the NFT asset curve with an AI-powered machine learning program.
bitsCrunch is based in Munich, Germany, and has a presence in India. bitsCrunch assists individuals in making NFT buying choices by allowing them to choose which NFTs to purchase. In the previous year, the firm claims to have grown its worldwide user base by more than 8X. Its goal is to protect the environment of the NFT. Animoca Brands, the round’s main investor, is a significant participant in the gamification and blockchain industries, claiming to have a portfolio of over 150 investments in NFT-related businesses and decentralized initiatives.
Animoca Brands is a leader in gaming and blockchain with a portfolio of over 150 venture investments in NFT-related firms and decentralized initiatives that contribute to the open metaverse’s and web 3 development. The additional financing will be used to grow the team, which will concentrate on protecting a number of well-known blockchains.
Yat Siu, the Co-founder of Animoca Brands, said:
With the increasing number of non-fungible digital assets in circulation and the rise in NFT marketplaces, bitsCrunch has the potential to contribute meaningfully to the safety and security of the emerging open metaverse.
Understanding The Need for Big Data in Crypto
Virtual currencies are quite popular these days, and trying to stay away from memecoins like Dogecoin and Shiba Inu and stablecoins like Tether and Binance USD is difficult. However, as bitcoin becomes more popular, so do cryptocurrency crimes. The figure for crypto-based crimes more than doubled last year, reaching around US$14 billion in worldwide transactions, up from US$7.8 billion in 2020. While this increase in virtual currency crimes only accounts for 0.15 percent of all virtual currencies, it represents a 79 percent increase in fraud in this nascent market, even though cryptocurrency transactions have over quintupled (567 percent) in the last year, reaching US$15.8 trillion in 2021.
Big Data is a very successful industry, with sales forecast to reach $203 billion by 2020. To put it another way, by 2030, the blockchain ledger’s data might be valued up to 20% of the global Big Data market and earn up to $100 billion in yearly revenue. Blockchain-based big data tools help investors, governments, and enforcement agencies track trends and ensure compliance with international rules and regulations.
Big Data and blockchain are a combination made in paradise. Today’s real issue is who will be the first to develop the most appropriate and well-trained AI/machine learning model for use on top of blockchain-generated data layers that are distributed, transparent, and immutable. The company that does this will bring in a lot of money and make a lot of money. The aggregate value of the world’s 50 biggest mineral mining businesses is over $700 billion. The value of blockchain-based big data mining systems will likely be in the hundreds of billions in the future.
Catch all the breaking news, and Don’t forget to like the story!
Image credits: Caden Tormey and Shubham Dhage.