Hello everyone, I’m Dazhuzi. The project we are launching this time is nxyz, and it is expected to be launched in December. Because it has just been launched, the quota is also sufficient.
What is nxyz?
nxyz is a multi-chain index product suite that exposes real-time blockchain data through a low-latency API. The developers of nxyz are committed to providing users with first-class data infrastructure so that Web3 developers can spend more time building user-facing applications instead of wasting time building the infrastructure itself.
nxyz aims to enable a new generation of builders, creatives and entrepreneurs to develop a better internet by providing a fast, flexible and reliable blockchain indexing and data infrastructure. Its platform can ingest real-time data directly from the blockchain and its related applications.
nxyz provides developers with a high-performance API suite to help them easily consume blockchain data. Built by the distributed systems engineers behind Google and Neeva, nxyz's blockchain API provides real-time blockchain data in less than 200 milliseconds. Its ability to support high throughput will directly benefit applications such as wallets and NFT projects.
What is an API?
API, the full name of Application Programming Interface, is a set of predefined functions that are used between various software, operating systems, or between software and hardware to enable different programs to communicate and exchange information with each other.
For example, suppose you have a program that can record screen operations, and you want it to record your operations in the League of Legends game, then you need to let this program "communicate" with the League of Legends game. How to communicate? At this time, you need an API.
API can let you know what functions a certain software, system or hardware has, and enable you to use these functions. Just like if you want to borrow books from a library, you need to know what books the library has and where you can borrow them. This information is equivalent to API.
For another example, suppose you have a program that can send emails, and you need to use the API of an email service (such as QQ Mail) to send emails. The API allows you to call other people's functions, just like you hired a postman to help you deliver mail.
Simply put, API is a tool that helps different programs, systems, and devices "communicate" and "cooperate" with each other.
nxyz team members
There are 16 employees on LinkedIn. The company is headquartered in Mountain View, California, USA. The founding team has good academic background and great work experience.
Founder & CEO: Sridhar Ramaswamy, PhD in Computer Science from Brown University, worked at Google for 15 years as SVP, co-founder of Neeva
Founder & CTO: Todd Wang, Master of Computer Science from Stanford University, worked at Google for nearly 15 years as a software engineer, and worked at Neeva for 3 years as a software engineer
Founder & VP: Nathan Wiegand, PhD in Computer Science from the University of Alabama, 9 years as a senior software engineer at Google, 2 years as a software engineer at Neeva
Founder & CPO: Baris Gultekin, MBA from Stanford University Graduate School, co-founder and product manager of Google Now for 4 years, senior product director at Google for 4 years
The strength of nxyz's team is quite remarkable. Many of them are veterans in building distributed systems, and some of them also participated in building the early infrastructure of Google's search and advertising service systems. It can be said that its team has, to a certain extent, expert-level development capabilities, which also provides strong support for the research and development of its products.
NXYZ’s Financing
Last year, it completed a considerable amount of Series A financing. On October 12, 2022, nxyz announced that it had completed a US$40 million Series A financing, led by Paradigm, with participation from Coinbase Ventures, Greylock Partners, Sequoia Capital, and angel investors such as Balaji Srinivasan, Jaynti (JD) Kanani, Jing Wang, Packy McCormick, Surojit Chatterjee, and Ryan Selkis.
Paradigm is a research-oriented technology investment company focusing on the blockchain and cryptocurrency fields. It has invested in many outstanding projects involving financial services companies such as infrastructure, DeFi, NFT/games, and exchanges.
Paradigm's famous investment projects:
Uniswap: A decentralized exchange that provides liquidity mining and trading services.
Lido: A decentralized finance (DeFi) platform that provides lending, deposit and staking services.
Blur: A decentralized trading protocol that provides NFT trading services.
In addition, Paradigm has invested in many other well-known projects, such as Optimism, StarkWare, Cosmos, Phantom, dYdX, OpenSea, Magic Eden, Sky Mavis, etc. These projects involve different fields, including Layer2, Solana and Cosmos ecology, and have delivered many excellent projects to the entire industry.
Greylock Partners is one of the top venture capital firms in Silicon Valley. Founded in 1965, it is dedicated to early-stage investment and has invested in a series of well-known companies such as Facebook, LinkedIn, Instagram, Pandora, Dropbox, Airbnb, etc. Greylock's partners include David Sze, Aneel Bhusri, Reid Hoffman, etc. Thousands of business plans are sent to Greylock every year, but only about 20 can be presented to all partners (pitch), and half of them can get investment.
Sequoia Capital is a world-renowned venture capital firm, founded in 1972 and headquartered in Silicon Valley, USA. As the first institutional investor, Sequoia Capital has invested in many innovative companies, including Apple, Google, Cisco, Oracle, Yahoo, LinkedIn, etc.
These three organizations can make everyone understand how much importance NXYZ has in the field of infrastructure construction.
nxyz's investment lineup is luxurious, with top institutions such as Paradigm, Coinbase Ventures, and Sequoia Capital being quite eye-catching.
At the same time, in today's market where the heat has almost been exhausted, as an infrastructure project that does not have an advantage in terms of exposure, nxyz's US$40 million Series A financing is indeed extremely eye-catching.
Why is infrastructure so popular?
I have conducted detailed analysis and discussion on the bear market investment layout of a large number of top investment institutions such as A16z, Paradigm, Sequoia Capital, and Animoca Brands. As far as these top institutions are concerned, their layout at the track level is actually highly overlapping.
Take Animoca Brands as an example. It made 66 investments in the first half of 2022, with a total investment of more than US$185 million. About two-thirds of the investment went to games and infrastructure. In my opinion, the flow of funds in the two tracks of games and infrastructure may represent two different investment ideas.
Investing in the infrastructure sector is quite logical given the current overall bearish backdrop.
It has strong landing value and there is almost no possibility of bubble. Because the actual value it can create can be accurately quantified to a large extent. Therefore, for most investment institutions, the infrastructure track may mean a prudent financial management measure similar to bank deposits compared to GameFi, which is full of risks and high returns.
The Case for nxyz
Blockchains have emerged as a paradigm for decentralized and transparent data storage. While blockchains are an ideal solution for decentralized data storage, they come with their own set of issues. As important as the decentralized infrastructure of distributed ledger technology is, the validation procedures used to ensure data integrity can slow down queries and overall blockchain performance.
Index providers provide fast access to data for dApp developers. In order to take advantage of the transparency and decentralization of data storage brought by blockchain, it is essential to provide easy data navigation inside crypto networks. However, current solutions in the market face infrastructure issues such as reliability, significant lag behind the chain, and long processing times. With its massively parallel infrastructure, nxyz provides a solution that provides reliable, low-latency, and high-real-time connectivity to blockchains that dApps require.
How to use
The current nxyz API suite consists of wallet, token, and collection endpoints that greatly simplify data retrieval.
Steps to interface with nxyz
Select the desired endpoint from the currently supported list here. This includes predefined APIs covering common entities (NFTs, ERC 20, and balances), and also supports complex requirements such as the ability to specify a custom index pattern for any set of contracts.
Enter endpoint specific value parameters such as wallet address, chainID (blockchain identifier, e.g. "polygon"), etc.
Make the request like any other API call and get the required data.
Since its launch earlier this year, nxyz has processed over 5 billion transactions to provide real-time blockchain data. Nxyz provides multi-chain indexing for Ethereum, Optimism, BSC, Avalanche-C, and Arbitrum. The solution can greatly accelerate popular blockchain applications, allowing developers to focus on their core products.
Advantages of nxyz!
nxyz belongs to the indexing protocol and data provider track. It is a rigid development demand and has great development prospects. nxyz aims to be a real-time, flexible blockchain data API with no speed limit, low latency, and support for multiple chains. The nxyz team is strong, has worked together for many years, has successful entrepreneurial experience, and has obtained sufficient funds. Technically, nxyz's lightning-fast blockchain API is built by the distributed system engineers behind Google and Neeva, and can provide real-time blockchain data in less than 200 milliseconds.
Nxyz
Total issuance: call me for details
Release rules: call me for details
Expected launch time: December
Investment agency :
Paradigm
Coinbase
Sequoia Capital
Greyloc