Salesforce Secures $6M Investment to Support AI-Powered Web3 Data Platform Mnemonic

The startup offers practical data on non-fungible tokens (NFTs) for businesses and developers.

Mnemonic, the leading provider of artificial intelligence-backed non-fungible token (NFT) data and analytics for enterprises and Web3 developers, has successfully raised an impressive $6 million in a seed extension round. The round was led by none other than Salesforce Ventures, a testament to the immense potential and value of Mnemonic’s groundbreaking technology. Other notable participants in the funding round include Polygon Ventures, Orange DAO, FIN Capital, and FJ Labs, further underscoring the widespread recognition and support for Mnemonic’s innovative solutions.

This significant investment comes at a time when the crypto market is experiencing a bearish trend, intensifying the focus on infrastructure projects that can bridge the gap between Web2 and Web3 technologies. Moreover, there has been a recent surge in interest and enthusiasm for AI-related technologies within the crypto industry. Notably, Gensyn, a provider of blockchain-based computing resources for AI, recently secured an impressive $43 million in funding in a round led by the prestigious Andreessen Horowitz.

Salesforce, renowned for its cutting-edge solutions and customer relationship management (CRM) products, intends to leverage Mnemonic’s advanced technology in its Web3-related CRM offerings. Max Comparetto, co-founder of Salesforce’s Web3 Studio, expressed his excitement about the collaboration, emphasizing the aim of empowering organizations to thrive in the Web3 era. By integrating Mnemonic’s invaluable insights into Salesforce Web3, customers can now make well-informed, data-driven decisions on critical aspects such as partner selection, Web3 product pricing, and audience targeting for airdrops.

With this impressive funding and strategic partnership, Mnemonic is poised to solidify its position as a leader in the emerging Web3 landscape. The company’s holistic approach to understanding customer interactions across various digital channels positions it as a vital asset for organizations seeking to unlock the full potential of Web3 technology and gain a competitive edge in the evolving digital landscape.

Mnemonic, a San Francisco-based company, confidently offers powerful application programming interfaces (APIs) designed to revolutionize the development of Web3 products and experiences. With our APIs, developers and enterprises can harness a comprehensive suite of NFT data, analytics, and insights, empowering them to create faster and more reliable solutions.

Our data encompasses real-time advanced sales price data, marketplace activity, and detailed NFT trait information, enabling effective filtering and personalized recommendations. Moreover, we go beyond mere data provision. Mnemonic incorporates advanced spam detection algorithms to eliminate noise and safeguard users from less reputable NFT collections.

In an interview with CoinDesk, Andrii Yasinetsky, the co-founder and CEO of Mnemonic, highlighted our initial vision of empowering developers and businesses with real-time, high-quality blockchain-derived data. Given the inherent challenges of indexing and processing such data, our APIs provide an invaluable resource for the Web3 ecosystem. Yasinetsky, a seasoned professional with a background at Google and Uber, brings a wealth of expertise, including multiple patents in self-driving vehicle technology, to our company. Alongside him, Mnemonic benefits from the leadership of Chief AI Officer Elena Ikonomovska, a former data scientist at Reddit, and the involvement of Ben Metcalfe, although not actively engaged in day-to-day operations.

As our journey progressed, Mnemonic shifted its focus to address critical business use cases and obstacles within Web3. We strive to enhance engagement, personalization, transparency, and the discovery of new revenue streams. By leveraging the data and analytics provided by Mnemonic, our clients gain a competitive edge in the evolving landscape of Web3, unlocking unprecedented opportunities for growth and innovation.

The new funding is set to propel Mnemonic’s growth by enabling the company to fully develop its extensive range of use cases, enhance its analytics capabilities, extend its market penetration, and fortify its partner ecosystem. Notably, Mnemonic already plays a pivotal role in supporting the testnet of Base, a promising layer 2 project incubated by the renowned crypto exchange Coinbase. Moreover, Mnemonic’s groundbreaking Base NFT API will seamlessly transition to supporting the Base mainnet upon its imminent launch in the forthcoming months.


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