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BitsCrunch: Taking a Byte Out of NFT Uncertainty

BitsCrunch tackles challenges in the NFT market with a decentralized AI platform leveraging community contributions. Backed by a recent $3.6 million funding round, bitsCrunch is well-positioned to shape the future of Web3 analytics.

  • BitsCrunch tackles challenges in the NFT market with a decentralized AI platform leveraging community contributions.
  • From collectors and investors to developers, bitsCrunch offers valuable tools. In-depth analytics, AI-powered price valuations, and a rich data set with APIs fuel informed choices and create innovation in NFT applications.
  • Backed by a recent $3.6 million funding round, bitsCrunch is well-positioned to shape the future of Web3 analytics. Their focus on a secure and transparent NFT environment fosters trust and wider adoption within the market.

In the bustling landscape of blockchain technology, bitsCrunch emerges as a decentralized, enriched NFT data network, prepared to revolutionize the way developers craft NFT applications. At its core, bitsCrunch promotes seamless data acquisition, processing, and delivery within a decentralized and permissionless network.

NFTs (non-fungible tokens) are unique digital assets stored on a blockchain. While their rise reflects blockchain's growth, challenges like wash trading and weak regulation leave the market vulnerable and hard to trust.

BitsCrunch: A Community-Driven Solution

Bitscrunch takes the front seat, ready to address these challenges as a community-driven AI platform that harnesses advanced computations, AI algorithms, and data from both on-chain and off-chain sources. Moreover, its decentralized nature empowers community developers to contribute additional algorithms, enabling a collaborative ecosystem.

While general blockchain analytics platforms offer valuable insights, they often lack the precision required to capture the nuances of the NFT world, leaving users with incomplete information and uncertainty in decision-making.

BitsCrunch fills this void, offering a joint intelligence platform where the community actively participates in unraveling the mysteries of the NFT world.

Empowered with this collective knowledge of creators, collectors, and enthusiasts, bitsCrunch provides a comprehensive overview of the NFT market, including rich infographics, in-depth market reports, relevant statistics, and insights into wash trading patterns.

Participation within bitsCrunch is personified through its native token, BCUT. Contributors unlock various roles within the network, including node operators, delegators, indicators, community, and users/customers.

This incentive-based system aligns everyone’s interests and encourages collaboration and shared commitment, ensuring the quality and accuracy of information while rewarding contributors for their valuable time and effort.

Beyond NFTs, bitsCrunch offers versatile applications, from tracking cryptocurrency prices to predicting market trends, underscoring its adaptability and value across diverse use cases.

bitsCrunch Network

Delegation and Shared Success

The recently launched Foundation Delegation Program places the bitsCrunch community at the center stage. By delegating BCUT tokens, members actively govern the network (decentralization), strengthen its security, and earn rewards. This encourages collaboration, where diverse users contribute to the network's growth and stability.

The program emphasizes specific contributions: running nodes, identifying bugs, and developing tools. Weighted selection ensures that high-performing operators are chosen.

The bitsCrunch Foundation operates under the guidance of an interim foundation council, responsible for overseeing and aligning the foundation's activities. The core members include:

Gopi Kannappan: As co-founder and Chief Product Officer of bitsCrunch, Gopi's one-stop-shop brings a wealth of expertise to the foundation. He will lead the foundation and oversee the transition to a decentralized autonomous organization (DAO).

Vijay Pravin Maharajan: As Founder and CEO of bitsCrunch, Vijay is committed to driving innovation and growth within the bitsCrunch ecosystem. His leadership will be crucial in guiding the foundation's strategic direction and initiatives.

Fueling the Future: Funding and Vision

BitsCrunch's recent $3.6 million private funding round, backed by industry leaders like Animoca Brands and Coinbase Ventures, Capital, Polygon Studios, and many more propels further development.

Their record-breaking BCUT community sale on December 14 sold out in just 24 minutes, raising an astounding $3.85 million is another cherry on the top!

This funding fuels their vision of becoming a "one-stop-shop" for digital asset data, encompassing NFTs and various blockchain tokens. Founder Vijay Pravin envisions a future where bitsCrunch fosters data-driven decision-making and transparency in the NFT space.

Shaping the Web3 Landscape: Next Steps for the bitsCrunch Foundation

By empowering users and fostering innovation, bitsCrunch is well-positioned to play a major role in the evolving Web3 landscape. Their focus on a secure and transparent NFT environment aligns perfectly with the needs of the burgeoning market.

The bitsCrunch Foundation has outlined several key initiatives:
- Expanding the Interim Council
- Establishing Core Vision and Value
- Crafting the DAO Constitution (decentralized autonomous organization)
- Developing a Roadmap to provide a clear path forward for the bitsCrunch ecosystem

As Vijay Pravin states, "We want to use data in the best way possible to educate people, to let them know what's good in the long run." This commitment to user education positions bitsCrunch as a leader in shaping the future of Web3 analytics.

Edited by Annette George