Why CMT Digital chose to invest in Flipside Crypto Inc
One of our core convictions in the promise of blockchain technology is the ability to view and analyze on-chain data. The problem, however, is that with the exponential growth in on-chain activity, the data associated with that activity has become harder to parse and accurately analyze.
We chose to invest in Flipside Crypto Inc. because it offers a unique solution to this problem. Flipside provides the crypto community with unparalleled analytics through the use of its suite of analytical tools and its incentive-aligned community of thousands of analysts. Flipside products include a project dashboard, visualization tools, and auto-generated API endpoints that enable bespoke project blockchain-data analysis. Flipside leverages this product suite with its community of analysts through the use of Flipside’s structured bounty program, which offers crypto as a bounty reward for successfully answering questions with blockchain data.
In adopting this collaborative approach to analyzing on-chain data, Flipside aligns the incentives of protocols and analysts to help protocols operate more efficiently and promotes a sustainable, non-extractive business model that is completely aligned with ecosystem partners, whether blockchain projects, on-chain analysts, or otherwise.
The amalgamation of thousands of analysts comes with an additional benefit. Qualified talent in the blockchain space is severely lacking right now, and Flipside has provided a platform that naturally attracts the best and brightest on-chain analysts to showcase and make economic use of their talents. To this extent, the Flipside business serves as an efficient talent funnel, allowing analysts to build a repertoire of historical on-chain analytics work.
Finally, and perhaps most importantly, we invested in Flipside because of its team. Dave Balter, co-founder and CEO, has shown an impressive ability to scale teams and business operations, as demonstrated in the recent hire of Mike Featherstone as CFO. A serial entrepreneur, Dave has a track record in building companies, having built BzzAgent and Smarterer with successful exits in both. Quickly rising to the top of such a competitive and instrumental section of the greater blockchain ecosystem, Flipside has shown an eagerness to grow and help protocols grow with them. We are excited about Flipside’s current roadmap and the pipeline of open job opportunities. Dave and Flipside, we are honored to have you as part of the CMT Digital family.
