Leading blockchain data analytics company CryptoSlam and Web3 media company Forkast.News today announced that they are merging to form a new Web3 market data intelligence and media platform branded as Forkast Labs.
Founded in 2018 by Randy Wasinger, and backed by prominent tech founders such as Mark Cuban, Reid Hoffman and Mark Pincus, CryptoSlam is leader in multi-chain NFT data aggregation. CryptoSlam has raised a total of $9M in funding over 2 rounds. In Jan 2022, it raised $9 million in a seed funding round in addition to a previous angel round.
Co-founded in 2018 by former Bloomberg Television anchor Angie Lau, and Sarah Chang, Forkast.News is a leading crypto industry news website and events business with an international team of award-winning journalists. Forkast.News has raised a total of $1.8M in funding over two rounds. In May 2021, it raised $1.7 million in a seed round in addition to a previous grant of $50,000 from Block.one.
Forkast Labs will organize, standardize, and create universal data tools and methodologies that will allow users to assess the true value of the digital economy, in real-time. The company said in a statement that the platform will enable users to compare protocol against protocol, and standardize how investors can review, assess, and feel safer and more empowered to participate in the digital economy.
Forkast Labs was born out of a lack of standard methodology to determine the true value of Web3 assets. Until now, Web3 has been measured largely against crypto prices, which creates sentiment-driven, highly volatile, and ultimately inaccurate data that has eroded trust in the industry. Forkast Labs aims to change that by building data tools, indices, and methodologies to value the digital economy, alongside providing reporting and analysis.
The new company will start by launching flagship data indices, APIs, and business intelligence products to measure the digital economy based on real-time on-chain data. This will create a universal methodology and enable evaluation of blockchain projects that will be meaningful for any investor or participant in the digital asset space.
Angie Lau, and Randy Wasinger, will be co-CEOs of Forkast Labs. Sarah Chang, co-founder of Forkast.News, will be COO of the combined entity.
Angie Lau said, “This merger comes at a pivotal moment for the crypto industry. The entire industry has been valued against volatile price movements, which has created a high degree of speculation. Trust in crypto has been eroded as a result, but we have the power to change that with this merger.”
“For the past five years, CryptoSlam and Forkast have been identifying the value, fundamentals, and utility of blockchain, with CryptoSlam telling the story through data and Forkast telling the story through journalism. Now, by bringing these two teams together, we can set a new standard of data transparency for our industry,” Angie Lau added.
Randy Wasinger said, “Joining forces with Forkast.News is an exciting milestone. CryptoSlam has established itself as the leader in multi-chain NFT data aggregation, and we now have the opportunity to parlay our infrastructure to serve an even wider audience. Just as Google organized the world’s information to make it useful for everyone, we at Forkast Labs are doing the same for the digital economy.”
Yat Siu, Founder and Executive Chairman of Animoca Brands, an investor in both CryptoSlam and Forkast.News, said, “A media intelligence platform backed by industry-leading data analytics is what the blockchain industry needs right now.”
CryptoSlam and Forkast.News have excellent track records in their own right, and as a combined entity can bring trust and transparency to the Web3 ecosystem,” Yat Siu added.
Forkast Labs will be headquartered in Delaware.
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