Nansen, an analytics platform, aims to challenge Discord’s dominance by offering a new messenger service that allows NFT projects and other services.
Discord is the most popular chat app for Web3 communities. It covers everything from NFT projects to DAO community discussions. However, scams frequently take the shine off the service. The new solution for connecting communities is offered by crypto analytics platform Nansen.
Nansen Connect was announced today by the company. This messaging app allows users to log in with their crypto wallets and connect to groups based upon their crypto holdings. The app is described by the firm as a “crypto native communications hub” for communities.
Nansen has been a favourite of many NFT traders thanks to its “smartmoney” leaderboard and other features that give users an inside look at what top investors do with their holdings. Nansen is new to the social app business, but the app will use the existing data and features of the firm to improve the experience.
“Nansen is already an important informational hub in crypto, and our core offering–wallet labels for 120 million Ethereum addresses–centers around surfacing the identities of the behaviors in the noise from blockchain data,” Paul Harwood, Product Manager, told decrypt. “Creating a social product for these core competencies is an natural evolution.”
Nansen Connect, according to the company will use on-chain data (including transaction data and current holdings) to provide useful context for users and communities. Connect users can see the individual’s crypto net worth, see the funds in a project treasury, and find out if any influencer has dumped tokens.
Harwood stated that users can hold project leaders and influencers accountable by monitoring treasuries, dumping and in real-time. Some members may be elevated simply because they are proven holders. All this information will be readily accessible and we look forward for the results.
Harwood added that Nansen Connect could “help mitigate some security flaws that we see across the ecosystem.” He said that Nansen Connect requires a wallet connection. It then allows access to specific groups based on NFTs or tokens that the user has. This means that only “proven members” can access certain communities.
Phishing and social engineering schemes have been used to trick Discord community administrators and moderators. These accounts can then be used to scam users and steal NFTs from their connected wallets. Twitter also saw a lot of scams being tweeted from hijacked accounts , even verified ones.
Discord is still a popular tool to connect collectors with communities on the Web3, but it is being criticized more than ever because of high-profile scams.
This month, after the Bored Ape Yacht Club’s discord server was exploited by , a pseudonymous co-creator of the project Gordon Goner tweeted: “Discord doesn’t work for Web3 communities. We need a better platform that prioritizes security.
In May, the former Proof Collective ( Moonbirds), COO Ryan Carson tweeted that “All of Web3 need to quit using Discord” and “Move to a secure, beginner-friendly solution.” This was apparently in reference to another fraud, and “This is completely ridiculous and completely maddening.”
Nansen Connect will begin with a small number of users. These include subscribers to its analytics service as well as owners Doodles and CloneX high-profile Ethereum NFTs such as the Bored Ape Yacht club, Moonbirds, Moonbirds, CloneX, Azuki and CloneX. As the community grows, more communities will be added.
The firm also stated that several NFT projects have confirmed plans for Nansen Connect to be used as an official community platform. These include Pudgy Pens, Hashmasks and KaijuKingz.
The app will offer group features as well as direct messaging between users, with encryption enabled. Nansen will add more group options over time, including smart money channels. It will also allow trades between users.
Nansen isn’t the only platform that has tried wallet-based messaging. Last November, NFT marketplace Rarible introduced a wallet-based message feature with plans to make it available across the Web3 ecosystem. Nansen’s offering meanwhile aims to use the platform’s data to provide a safer communication tool for communities.
Nansen’s ambitions are growing, and this is a significant shift. In December , the startup raised $75 million. Harwood believes that Nansen’s launch will transform it from being the leading source of blockchain data to an all in one super-app for Web3.