Flipside, which hopes to “measure the value of crypto assets based on underlying fundamentals,” raised a $4.5M seed round. The company tracks more than 1,000 crypto assets and generates what it calls an “asset score” for each that seeks to understand their true value as opposed to the reported “market cap.” Flipside measures developer activity, price volatility, and what it calls utility — a measure of how the crypto is being employed by users, apart from mere price speculation.
“Price is an ineffective tool for understanding the value of these assets,” CEO Dave Balter told CoinDesk. “What you really need to pay attention to is, are customers using this product? How is that changing? And are developers actually building?” Flipside is said to have more than 100 investors using the firm’s beta product and will launch to the public in 2019. Subscriptions will run $25-300/month in multiple pricing tiers. CoinDesk and Digital Currency Group led the round.(Source: CoinDesk)
Coinbase, Digital Currency Group back crypto-analytics startup in $4.5M round written by Mark Rogowsky @ https://www.theblockcrypto.com/tiny/coinbase-digital-currency-group-back-crypto-analytics-startup-in-4-5m-round/ November 29, 2018 Mark Rogowsky