Mnemonic, the NFT data API for Web3 developers, announced its general availability launch. Previously, Mnemonic’s API keys were only available to a limited number of partners by request–now Mnemonic’s foundational API is open publicly to all developers. Additionally, Mnemonic is unveiling a new Collection Analytics API as part of its enterprise tier, to serve companies with more advanced, scaled NFT data needs.
Mnemonic’s mission is to enable the Web3 community to create the future of the internet by providing the building blocks developers need to build with NFT data. Its infrastructure solves for the unique and ever-growing complexities of NFT data, empowering Web3 builders to effortlessly bring powerful applications to market quickly. Mnemonic’s NFT data API is already being used by crypto-native startups building marketplaces, DeFi applications, guilds, and more. NFTfi, for example, is using Mnemonic’s data to support its mission of pioneering the financialization of NFTs.
Mnemonic’s new Collection Analytics API gives developers the building blocks they need to build personalized, useful experiences with aggregated NFT collection data. A few examples of what’s possible with Mnemonic’s Collection Analytics API include:
- NFT and collection discovery engines that recommend collections to users based on their existing wallets or mooning signals.
- Fan engagement applications that help brands and creators understand and market to their fans by identifying top holders or most loyal fans of a collection.
- Collection performance dashboards that help investors, collectors, and creators make informed investment decisions.
While the company aims to facilitate the overall growth of the industry through its free tier for developers who need an NFT data foundation, Mnemonic’s Collection Analytics API is part of its enterprise suite, which is for companies with more advanced, scaled NFT data needs. However, for a limited time, developers who sign up for Mnemonic’s free tier and receive an API key can explore the power of the Collection Analytics API with 1000 free API calls.
“If you’re creating anything with NFT data, reliability and accuracy are of the utmost importance, and can make or break your user experience.” said Elena Ilkonomovska, co-founder and Chief AI Officer at Mnemonic. “That’s why we continue to double down on quality, reliability, and depth of understanding here at Mnemonic. With additional audience and pricing insights to be added soon, our API is key to empowering Web3 companies to create personalized, insightful experiences that scale.”
Mnemonic emerged from stealth in December 2021 as the first B2B NFT company, with the launch of its core API plus $4 million in seed funding. With this funding and product expansion, Mnemonic is also growing its team. Bob Cowherd recently joined as Head of Product, where he will ensure that the API platforms and collection dashboards continue to meet the evolving needs of Mnemonic’s customers. Previously Bob was VP Product at Better Place Forests, ran Product Strategy & Expansion at Uber, and led the product team for Amazon’s Prime music streaming services and home & automotive music strategy. He is also building a DAO and is actively engaged in the Web3.0 space.
The Year of the NFT. From record marketplace sales to increased investments in Web3.0 technology, all evidence points to 2021 being a breakout year for the NFT industry. Mnemonic analyzed its all-time NFT data to measure new activity generated in the space during the year. To do this, Mnemonic gathered data on mint transfer activity–counted as when the original contract is handed over to a new owner or entity, and defined as a transaction below–for all NFTs that existed in the calendar year 2021.
The data points to an industry-wide explosion 2021–41.9% of all NFT transactions ever, occurred in 2021, and transaction activity increased nearly 2000% from Q1 to Q4 2021. From 2020 to 2021, there was a 457.22% increase of transactions year-over-year, and a 354.6% year-over-year increase in new wallets who minted an NFT. Although the rate of growth for NFTs in 2021 is an outlier and unsustainable for a prolonged period of time, we’re still seeing growth and innovation.
Mnemonic is the NFT data API that provides the building blocks Web3 developers need to build with NFT data. As the first B2B NFT company and the only company to focus specifically on solving the unique and ever-growing complexities of NFT data, Mnemonic empowers Web3 builders to effortlessly bring powerful applications to market quickly, provide personalized, reliable user experiences, and build and scale confidently. Mnemonic is backed by top-tier funds with deep expertise in the crypto ecosystem, including Kenetic, Monochrome Capital, Sound Ventures, and Tribe Capital, as well as prominent angels from Coinbase, IntoTheBlock and People.ai. In addition to its investment, co-founder Ben Metcalfe’s fund Monochrome is also incubating the company. Led by Andrii Yasinetsky (CEO), Elena Ilkonomovska (Chief AI Officer), and Ben Metcalfe, the co-founders are former Uber, Google, and Reddit engineers and executives that bring decades of collective experience building companies and big data platforms scaling to millions of transactions per second. Mnemonic was founded in 2021 and is headquartered in San Francisco, CA.
Find them at www.mnemonichq.com and follow them on Twitter @mnemonichq and LinkedIn.