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Blockchain Analytic Firm “FlipSide Crypto” Launches ShroomDK NFTs

The latest report confirms that Flipside Crypto, a blockchain analytic firm, has successfully launched its online software development kit (SDK). The new NFTs-based software kit called “ShroomDK” will provide an automated means to pull multi-chain data via software.

In a June 30 announcement, Jim Myers, the co-founder of Flipside Crypto, confirmed the successful launch of the software development kits. According to Myers, the ability to pull blockchain data from multiple chains in an automatic version has been a missing infrastructure for developers and analysts.

ShroomDK is simply a kit of software-building tools delivered online instead of locally on machines. ShroomDK can be used to create applications for specific devices or operating systems. The tokenized ShroomDKs will allow users to resell their utilized software development kits.

According to the top executive, the new software kits will allow developers and analysts to pull data from popular blockchains, such as Ethereum (ETH), BNB Chain (BNB), and Avalanche (AVAX), THORChain (RUNE), Flow (FLOW) and Algorand.

While commenting about the new crypto development, Dave Balter, the co-founder, and CEO of Flipside Crypto, outlined that the new software kit will offer users a chance to squeeze more value out of their software licenses. Moreover, the NFTs-based ShroomDK will save users from managing nodes and complex data pipelines:

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“Wrapping SDK access in an NFT gives a user control over their license. Software licenses are often a sunk cost, meaning if you don’t utilize the purchased license it goes to waste. That’s not great for the end-user, and it’s not great for the provider of the product.”

“By transforming the license into an NFT, remaining usage can be resold to anyone. This benefits the original holder who can transform a sunk cost into something of value and allows new users to try out a product at a discount.”

ShroomDK NFTs Explained

Interestingly, developers can apply the new tech to enable NFT users to increase their pull capacity via additional free NFT called “Spores.” The new NFTs went live last month, gaining demand from more than 50 analysts and organizations in the crypto space.

According to Balter, users can use these NFTs for other specific uses rather than being used them as speculative digital assets. Balter emphasized these NFTs are important, given the current bear market:

“Crypto winter has put an added pressure on every blockchain to grow and retain developers and users. Project utility is king, but it requires continuous insights for builders to get it right. That’s why ShroomDK is needed now.”

Launched in 2017, Flipside Crypto is renowned for enabling on-demand analytics for blockchains and providing data and intelligence to crypto firms. The blockchain analytic firm offers a free open data platform for the analyst to learn, collaborate and compete to solve analytical challenges.

The software development kit (ShroomDK) come a few months after FlipSide closed its Series A funding round that secured more than $50 million in April. At the time, the funding initiative saw the participation of Republic Capital, Dapper Labs, and Galaxy Digital Ventures.

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