9 C
Tuesday, October 4, 2022

We have a brand-new unicorn: Dune Analytics’ dazzling victory thanks tonearly $70 million investment!

Dune Analytics announces that their community-first Web3 analytics platform raised $69,420,000 to act on a brand-new generation of analysts. For Dune, the Series B funding ends with the contributions of Coatue, with additional participation from existing investors including Multicoin Capital and Dragonfly Capital. The plan is to boost them up enough to gain so deep insights in a pace of real-world time. Once the user accommodates the platform’s pace, it will be easy to take immediate action in the market.

“Open, auditable data is one of the key components that makes web3 different from web2. Dune continues to be the first place people go to get data on the hottest new projects in web3 and go deeper on existing ones. We’re avid Dune users and we’re excited to keep supporting the team as they build the future of transparent, community-driven data analysis.” – Tom Schmidt, Partner at Dragonfly

Dune’s Metamorphosis

Dune Analytics

Dune Analytics has created a platform to carry the burden from people on the shoulder of the giant amount of on-chain crypto data. The platform offers some high-end tools so that one can track the real-time analytics from the dashboards. Among those apps and transactions, some can think that they need a miracle since all makes them think that easy access to information is impossible.

But apparently, Dune’s plan is to work with wizards in its platform. With the funds including $69,420,000 from the Series B round led by Coatue, they assume to build a system that offers financial rewards to attract users. Dune Wizards enables to build a specialised alarm clocks for the users with the help of on-chain intelligence. The system also gives them a chance to compensate for their engagements and contributions.

“Despite being radically open, web3 data remains largely underutilized. At Dune, we want to make this intelligence readily accessible and reward the analysts working to turn this data into digestible, real-time actionable insights. In legacy finance, only insiders get access to valuable data. Dune supports the next generation of analysts who will neither wear suits nor work for investment banks. Instead, these pioneers will have quirky animals as profile pictures and collaborate openly across the world. Being a Dune Wizard will be both more fun and profitable than being a Wall Street analyst.” Dune Analytics Co-founder and CEO, Fredrik Haga, said.

What’s deal with Dune

Dune Analytics

Huge amount of data come and go every single day but the clock is ticking. To reduce the human-force here, people in business need a platform to extract the necessary ones from a pile of information. The investor saw the light in the creation of Dune and decided to go for it.

“As investors, we make extensive use of data in our decision-making process. Dune – powered by its community of analysts – furthers and enables crypto’s promise of making professional-grade data and analysis open and accessible to all. We are thrilled to be partnering for the next phase of the journey.” – Kris Fredrickson, Managing Partner at Coatue

The platform is fed by data from 5 blockchains as Ethereum, Polygon, Optimism, Binance Smart Chain and xDAI. Users can pick an industry to filter the data and see real-time fluctuations or any other activity. They can also custom the dashboards according to their preferences and then read the data chart before taking action. Dashboards may offer metrics such as DAO financial statements, DEX trading volumes, NFT trades and more.

“Ever-increasing amounts of capital flows through the crypto ecosystem, in turn producing extremely valuable data. The Dune community is extracting knowledge from this data at scale. Dune will provide the necessary tools so that users of all skill levels will be able to conduct more thoughtful, impactful analyses and gain deeper insight into the ever-evolving world of web3. We’ve got an exciting roadmap ahead to continuously improve our community- the first platform. We hope to enable a 100x performance increase this year, and in time, our application will support more collaborative features for teams, APIs and support for every major crypto network.” remarked Mats Olsen, the Co-founder and CTO of Dune Analytics.

Future of Data Analysis

Dune Analytics is one of the leaders when it comes to data literacy across the crypto market. All the things considered, it is not a surprise that Dune come out and start to become a myth day by day with the investments towards their mindset. The investors see their good grasp of the field and explore more beyond the fundamental gatherings in data analysis.

“The vast majority of blockchain data is either on chain, held behind a subscription, or forced through a specific lens. Dune is the only analytics company that provides open, unfettered access to blockchain data in a composable, remixable way. The future of finance will be open, real time and community driven. Dune Analytics understands this at a fundamental level and as a result has become an integral part of the fabric of web3 communities.” – Kyle Samani, Managing Partner at Multicoin Capital

The Nordic crypto analytics company’s current status turned into Unicorn after those investments in the Series B founding round. In addition to what it gathered in around A, the firm has been flied to unicorn status. This may trigger the others to join the business and create a breathtaking competitive environment among the blockchain-based businesses.

Click here for more funding news!

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

Related News

Stay Connected


Latest News