Flipside Crypto launches NFTs to pull multi-chain data

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Blockchain analytics firm Flipside Crypto has launched an online software development kit (SDK) called ShroomDK, which is based on non-fungible tokens (NFTs) and provides an automated way to pull “global” blockchain data through the software. Being NFT-based enables the SDK to be sold or upgraded more easily, according to the company.

Co-founder Jim Myers said that the ability to query blockchain data from multiple chains in an automated (programmatic) manner was “an important part of the missing infrastructure for blockchain developers and analysts.”

Software as a Service or SaaS refers to software that is delivered over the web rather than on hardware locally. SDK generally refers to a set of software building tools used to create applications for specific devices or operating systems. SaaS SDKs with tokens from Flipside Crypto allow users to access the software development kit purchased for sale after they are completed.

ShroomDK NFTs will allow developers to query data from Ethereum (ETH), BNB Chain (BNB), Avalanche (AVAX), Solana (SOL), Near (NEAR), Flow (FLOW), THORChain (RUNE), and Algorand (ALGO), while Layer two solutions such as Optimism and Arbitrum are also named.

Supported blockchains: Flipside
Speaking with Cointelegraph, FlipSide Crypto Co-Founder and CEO Dave Balter stated that NFTs will save users the hassle of having to “manage nodes, complex data pipelines, or petabyte-sized databases,” while also offering users the opportunity to extract more value from their software licenses. :

“Wrapping SDK access in NFT gives the user control over their license. Software licenses are often expensive, which means if you don’t use the purchased license, it is lost. That’s not great for the end user, and not great for the product provider.”
“By converting the license to NFT, the remaining use can be resold to anyone. This benefits both the original owner who can turn an expensive cost into something of value and also allows new users to try a product at a discount.”

NFTs can also be upgraded via additional free NFTs called “Spores”, which enable users to increase their query capacity.

Balter stated that NFTs have already been released in closed beta over the past month, and the project has seen strong demand from 50 major crypto analysts and organizations, such as “the folks from Rabbithole, Optimism, LlamaDAO, 0x, etc.”

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Commenting on the idea of ​​linking NFTs to specific use cases rather than simply being a speculative asset, Balter stressed that the utility of the project is particularly important in light of the current bear market.

“The Crypto winter put extra pressure on every blockchain to grow and retain developers and users. Project utility is characteristic, but it requires ongoing insights for contractors to get it right. That’s why ShroomDK is needed now.”
Flipside Crypto is known for enabling on-demand analytics for blockchains, providing data and intelligence for crypto enterprises. The company provides a free, open data platform for “analysts to learn, collaborate, and compete to solve analytical challenges via structured reward programs.”

The SDK’s launch follows a recent Series A funding round led by Republic Capital backed by major crypto firms such as Galaxy Digital Ventures and Dapper Labs in April that saw Flipside Crypto raise $50 million in funding.

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