Treehouse Acquires Origins to Expand NFT Data
Date: 2023-12-01 Author: Dima Zakharov Categories: BUSINESS
Treehouse's Expansion Move
Treehouse, a prominent data processing company operating within the Web3 sphere, has made headlines with its acquisition of Origins, an analytics platform specializing in NFT data. The strategic move intends to enhance their suite of NFT products and services. The acquisition involves securing the intellectual property of Origins Analytics, a company renowned for its comprehensive analysis of both on-chain and off-chain NFT-related data.
Incorporating Expertise
As part of this acquisition, the founding team of Origins, which successfully raised $4 million last year, will merge with Treehouse. Their collective aim is to offer a spectrum of services, including an NFT wallet notification system integrated with algorithmic tags, NFT analytical bots, and NFT wallet profiling APIs.
Deal Size Confidential
While the specifics of the acquisition deal remain undisclosed by Treehouse, this move marks a significant step toward fortifying their position in the NFT market. The acquisition aligns with Treehouse's strategy to expand its offerings and strengthen its foothold within the industry.
Financial Backing and Future Prospects
In 2021, Treehouse secured $18 million in seed funding from notable investors such as Lightspeed, MassMutual, Binance, Mirana, LeadBlock, Jump, GSR, and Wintermute. The firm has hinted at evaluating potential avenues for further mergers and acquisitions, indicating their commitment to continuous growth and innovation in the NFT space.
