Welcome, Mnemonic!
- Founders: Andrii Yasinetsky, Elena Ikonomovska, Ben Metcalfe
- Sector: Web3, Data and Analytics
- Location: San Francisco, CA
The Opportunity
Mnemonic is solving the unique and increasingly complex challenges of NFT data by building a data and analytics platform to enable developers and business users to derive insights from their data. They serve brands, builders, and enterprises creating experiences in Web3 with APIs that bring rich Web3 analytics, audience insights, and customizable audience segmentation abilities.
The Solution
NFTs enable the tokenization of everything in both the physical and digital world with the opportunity to reflect provenance, ownership, valuation, and other characteristics. This data can then be used to enrich existing data sets – for example, by unifying Web3 and Web2 identities to build a full customer picture of an individual. However, the complexities of the web3 ecosystem require bespoke solutions that help enterprises of all sizes not only access relevant data but also turn it into actionable insights that fulfill their objectives and enable them to build personalized, memorable, and safe products and experiences in Web3. Mnemonic solves this by live indexing on-chain data to real-time product data to provide a highly available and reliable platform built for enterprises. Mnemonic’s B2B API platform provides instant access to NFT data, collection analytics and insights into billions of transactions. The platform enables developers to power Web3 experiences at scale, including Web3 wallets, social media, analytics tools, and Web3 marketing platforms.
Why we’re backing Mnemonic
At Salesforce Ventures, we have seen enterprises increasingly exploring and requesting services to facilitate Web 3.0 strategies. We see the business use cases around NFTs rapidly evolving. One example is brands exploring how a commerce site may distribute NFTs. The brand can then target the community of NFT holders to create personalized, omnichannel experiences that drive greater customer engagement and long-term customer relationships. Mnemonic supports this by providing powerful audience insights and wallet segmentation capabilities to fully understand the performance of a collection, the behavior of its holders and identify new opportunities to reach and engage with new audiences. The platform also enables creators and brands to better analyze and understand their fans by gaining insight into the collection owners, with the opportunity to drive better engagement with fans.
In supporting Mnemonic, we are also partnering with exceptional co-founders Andrii Yasinetsky and Elena Ikonomovska. The team has decades of experience building large-scale infrastructure, data science, machine learning, and big data applications. Andrii and Elena combine excellent technical backgrounds (from companies including Uber, Google, and Reddit) with a visionary understanding of the powerful potential of Web3.
We see a huge opportunity for companies building the infrastructure and applications that will enable broader adoption of blockchain technology. Mnemonic’s data and analytics platform solves the complex challenges of NFT data and enables customers to quickly benefit from powerful analytics and intelligence capabilities across Web3. We are excited to invest in best-in-class companies building enterprise solutions in Web3, and playing a key role in supporting partners in the ecosystem. Indeed, Mnemonic was most recently announced as an official launch partner for Base, Coinbase’s L2 scaling solution, in addition to their existing partnerships with leading Web3 players including Polygon.
What’s Ahead
This is just the start – we are only in the earliest innings of exploring the full utility of Web3 technology. Traditional enterprises and brands are increasingly engaging with NFT strategies and exploring use cases that include digital twins, metaverse commerce, supply chain inventory, provenance as well as advertising and marketing. Salesforce Ventures is excited about the potential for NFTs and wallet analytics to allow for unique engagement between enterprises and their customers with enriched customer profiles and real-time insights into new audiences. Mnemonic is building a platform that is playing a key role in enabling enterprises and brands to derive value from their Web3 strategy.
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