BitsCrunch Raises $3.6M Funding For NFT Tools

The number of cases associated with nonfungible tokens frauds keeps increasing with the increase in the popularity of NFT. In recent months hackers and fraudsters have targeted several NFT initiatives, stealing NFTs worth millions of dollars. Very recent news of the phishing attack against OpenSea broke out, stating more than 80 percent of NFTs created on their platform are fraudulent. Presently, one tech startup has attempted to fulfill the objective to safeguard NFT projects and the NFT ecosystem. Introducing bitsCrunch, a Blockchain analytics startup located in Munich, Germany focuses mainly on offering security services using AI-based tools (artificial intelligence) to safeguard the NFT ecosystem. bitsCrunch’s analytics and security tools offer NFT insights to safeguard NFT assets post the $3.6 million funding they received from leading firms. bitsCrunch, founded by CEO Vijay Pravin, assists individuals in making financial decisions based on NFTs, allowing them to determine which NFTs to buy and, more significantly, which not to buy. bitsCrunch also has operations in India. In a statement, the CEO remarked, “We are glad to be backed by some of the best-in-class investors and leaders in the blockchain industry.” We are excited to announce that we have completed an oversubscribed private token round of $3.6M USD, led by @animocabrands & with participation from @coinbase @cryptocom @polygonstudios & a few others. A detailed t...