Mnemonic Raises $6M in Seed Extension for AI-Powered NFT Data Provider

Xplayer June 14, 2023 in Crypto News, Funding, NFT, Web3 - 2 Minutes

Mnemonic, a leading provider of AI-powered Non-Fungible Token (NFT) data, has recently announced a $6 million seed extension round of funding. The funding round was led by venture capital firm Andreessen Horowitz, with participation from other major investors including Coinbase Ventures, Polychain Capital, and Pantera Capital.

This new round of funding will be used to further develop Mnemonic’s technology and expand its services. Mnemonic’s AI-powered platform provides comprehensive NFT data and analytics to help users better understand the NFT market. The platform also provides insights into the performance of individual NFTs, allowing users to make informed decisions about their investments.

Mnemonic’s technology is already being used by some of the world’s largest NFT marketplaces, including OpenSea and Rarible. The company is also working with major blockchain networks such as Ethereum and Tezos to provide data and analytics for their respective NFT markets.

The NFT market has seen tremendous growth in recent months, with the total market cap of NFTs now exceeding $2 billion. This growth has been fueled by increased interest from both institutional and retail investors. Mnemonic’s AI-powered platform provides investors with the data and insights they need to make informed decisions about their investments.

The new funding will enable Mnemonic to further develop its technology and expand its services. This will help the company to better serve its customers and provide them with the data and insights they need to make informed decisions about their investments.

Mnemonic’s AI-powered platform is helping to revolutionize the way investors view the NFT market. With its comprehensive data and analytics, investors can gain valuable insights into the performance of individual NFTs and make informed decisions about their investments. The new funding will help Mnemonic to continue to develop its technology and expand its services, allowing it to better serve its customers and help them to make more informed decisions about their investments.