Case Study: IntoTheBlock brings actionable NFT insights to market 3 months faster

Summary

IntoTheBlock leverages machine learning and AI to surface actionable insights into crypto assets. By partnering with Mnemonic, they were able expedite the time to market of their NFT insights product by approximately 3 months.

IntoTheBlock cut 3 months off of their development time by using Mnemonic's NFT intelligence APIs.

About IntoTheBlock

IntoTheBlock’s mission is to unlock the mysteries of crypto assets and provide investors with relevant intelligence about the market. Since launching in 2019, the company has built a strong reputation as a trusted source of crypto market intelligence amongst both individual investors and businesses.

In 2022, IntoTheBlock partnered with Mnemonic to bring NFT insights to its portfolio of intelligence offerings, providing indicators and visualizations about activity in the NFT space to help investors make informed decisions.

Mnemonic’s APIs are the data backbone powering IntoTheBlock’s evolving cutting edge NFT intelligence offering.

NFT analytics without the headache

When IntoTheBlock decided to add NFT insights into their portfolio of intelligence offerings, data integrity and time to market were key priorities and the team needed complete historical data on all NFTs to effectively develop their NFT indicators. Initially, the team experimented with a different data provider, but request caps prevented them from processing the data they needed. They also attempted to extract and process the data they needed themselves and very quickly began uncovering peculiarities in NFT data and edge cases. This made them realize just how complicated working with NFT data is.

“Working with NFT data is far more complex than you might think. The NFT space is moving and changing fast, there are a growing number of edge cases and complexities to solve for, and it’s impossible to anticipate them when you first start.” - Juan Pellicer, Research Analyst

Mnemonic’s APIs enabled the team to bypass many of the complexities of NFT data so they could build and launch quickly. The team estimates that without Mnemonic, their time to market would have been delayed by an entire quarter. Not only did Mnemonic’s complete historical data meet the high quality standards of the team, the depth and organization of the data was instrumental in speeding up the go-to-market of the NFT insights product.

By providing data for both ERC721 and ERC1155 token protocols and doing the heavy lifting of extracting, processing, and maintaining up-to-date metadata, Mnemonic’s APIs made life significantly easier for IntoTheBlock’s engineering team and enabled them to focus on building products rather than the taxing process of extracting and processing data from the blockchain themselves.

Mnemonic and IntoTheBlock: Building Together

“The support and responsiveness we’ve received from Mnemonic has been great. We were having some challenges once and the team at Mnemonic was quick to propose and schedule a meeting to work through them right away.” - Juan Pellicer, Research Analyst