THE DEAL WILL RESULT IN AN INTENTION TO BUILD A BLUE-CHIP INDEX FOR NFTs!
Step Finance is a Solana analytics platform with 110,000 monthly active users. Step became a SolanaFloor customer after winning a hackathon in March 2021. Step is working on expanding its platform to incorporate NFTs, and the purchase of SolanaFloor will help the company get there.
According to George Harrap, a co-founder of Step Finance, numerous new users are entering the Solana ecosystem from different directions.
“Some consumers don’t know about DeFi, and many DeFi individuals don’t know about NFTs, so the sum is more than two parts,” Harrap explained.
SolanaFloor also won the Solana Hackathon and has 23,000 monthly active users.
Wazza, the platform’s founder, stated that using its data will improve the data surrounding the Solana ecosystem.
“Step is the home for DeFi, and we’re the house for NFTs on Solana,” Wazza explained.
Step Finance has grown steadily since its inception last year.
Following its performance in the hackathon, it received a $2 million investment from Alameda Research, controlled by the CEO of crypto exchange FTX, Sam Bankman-Fried.
Other businesses are also making inroads into the Solana data insights sector in addition to Step and SolanaFloor.
The increased NFT minting volume prompted blockchain analytics company Nansen to announce in June that it would start monitoring the chain’s data.
To provide more comprehensive insights into the Solana ecosystem, Harrap stated that Step Finance and SolanaFloor intend to build a blue-chip index for NFTs.
Additionally, the business will use the funding to bring team members from Solana Floor to Step.