CryptoSlam, a non-fungible token (NFT) industry data aggregator, has closed an oversubscribed $9 million funding round. The strategic seed round was led by venture capital firm Animoca Brands, a noted NFT investor that counts Dapper Labs and Axie Infinity among its portfolio companies.
Founded in 2018, CryptoSlam offers NFT collection rankings that serve as a cross-blockchain indicator of interest, similar to how CoinMarketCap works for cryptocurrencies.
The new funding will be used for an “aggressive” hiring plan, platform expansion to support new and existing blockchains and the launch of several new products, including an enterprise NFT data API that allows developers to build on top of the CryptoSlam platform.
An NFT acts like a deed of ownership to a unique digital item, including images, video files, video game items, and more. The industry expanded dramatically over the course of 2021, generating more than $22 billion worth of trading volume according to a mid-December estimate by analytics resource, DappRadar.
The NFT market has been hot again in recent weeks, as leading marketplace OpenSea recorded its second-best month of trading volume in December with $3.25 billion. That’s a nearly 37% increase over November’s tally. OpenSea has already passed the $1 billion mark in January in less than five days, per data from Dune Analytics.
CryptoSlam tracks sales data for hundreds of notable NFT projects and collections across various blockchain protocols, including Ethereum, Solana, Polygon, Flow, and Binance Smart Chain.
The firm, which currently has more than 20 employees, plans to further expand its team, support additional blockchain protocols, and launch an enterprise data API that other developers can use to build their own NFT tracking tools.
🌏Disclaimer: Some members of our team, including editors of this article, have personally invested in a number of cryptocurrencies, NFTs, and DAOs. We also earn commissions on some of the products we recommend.