On February 24, bitsCrunch, a blockchain company dedicated to NFT asset analysis, raised $3.6 million in a round of private financing. The round was led by Animoca Brands with participation from Coinbase Ventures, Crypto.com, Polygon Studios, Borderless Capital, Bison Funds, Mapleblock, Morning Star Ventures, Shima Capital, DWeb3 Capital, GravityX, Thykeblock Ventures and Spark Digital Capital .
bitsCrunch regards the guardian of the NFT ecosystem as the main purpose of development, and is mainly positioned in the NFT field. bitsCrunch is one of the four major artificial intelligence companies in the Munich area of Germany that are best at blockchain technology, and was awarded the title of the best B2B blockchain company in Germany in 2022 by Clutch. Behind bitsCrunch is a data-savvy team with over 25 years of experience working in data analytics, machine learning, artificial intelligence, and blockchain.
One of the most promising sectors of NFT, a large number of potential investors and funds have poured into the NFT track since 2020, and with the onslaught of NFT investment boom, the prediction of NFT market and security guarantee services have become just needed.
At present, bitsCrunch can provide many potential investors with many services in the NFT field, including quickly evaluating the price of NFT, verifying the authenticity of NFT digital assets, tracking NFT wash transactions, and serving as an NFT market portfolio tracker and real-time analysis. bitsCrunch currently has data on the vast majority of NFT assets, and has also built an AI model to deal with all potential problems and protect the NFT market.
The products of bitsCrunch mainly include two parts, NFT analysis system and NFT security service.
bitsCrunch can provide investors with a detailed breakdown of the visualized NFT collection and build an investment solution. bitsCrunch is able to track wallet collections and sales across multiple marketplaces on all blockchains, and by tracking each NFT, wallet owners can better understand their collections and be able to assess their collectible net worth. At the same time, bitsCrunch can enhance investors' understanding of the value of NFT, and further enhance the ability of "removing the false and preserving the true".
In the security sector, it is the most distinctive service of bitsCrunch, including three AI-based products, Scour, Liquify and Crunch Da Vinci (bitsCrunch's AI model has passed the technical review of Kaggle Grandmaster.).
Currently, 20% of NFTs are affected by wash trading, which further affects traders' investment judgment. Wash trading is a means of market manipulation, which mainly refers to investors selling and buying the same financial instruments at the same time to cause misleading in the market, and some community rewards are also occupied by wash trading implementers. Scourr can use artificial intelligence to identify and manipulate the quantity and price of assets in the NFT ecosystem to defraud transactions, and is committed to reducing the potential impact of wash trading on the NFT market. Based on Scourr, it can verify whether the user's NFT assets/collections are involved in wash trading
There is a certain bubble in NFT assets themselves, and it is difficult for users to grasp the actual value of NFT assets. Liquify uses artificial intelligence technology to use its sales history, metadata and several other key features as an accurate value estimator for NFT assets. To further help investors to control the actual value of NFT and avoid losses due to it.
With the further development of the NFT market, the phenomenon of counterfeit NFT assets also needs to be taken seriously. Crunch DaVinci is an AI model trained on different digital assets, which can flag imitators, counterfeit and pirated digital art, and further serve the purpose of being able to identify counterfeit/manipulated digital assets.
bitsCrunch can provide market investment analysis for potential NFT investors, and based on AI technology, users can avoid trust issues such as fraud, wash trading, and false prices.
The services that bitsCrunch can provide will gradually become a rigid need for the development of the NFT field, and its overall ecological development prospects are relatively broad. The favor of high-quality capital such as DWeb3 Capital, Coinbase Ventures, Crypto.com Capital, and Polygon Studios can further prove its future market prospects.