Non-fungible token (NFT) management application Floor has acquired WGMI.io, an NFT data platform, the company said Monday.
Floor, which allows traders to view and manage their portfolio of NFTs, will soon give users a more robust experience by incorporating WGMI.io’s dataset. Users will be able to view not only their assets but also associated price floors and trading volumes.
Chris Maddern, co-founder and CEO of Floor, told CoinDesk that NFTs represent the intersection of “culture and money,” and that it is important to create a platform that supports those facets with data.
“People just don't want to spend hours going and looking at all these [marketplaces] to figure out what's going on,” said Maddern. “What we found is that people can now start to spend more of their time actually making [trading] decisions and diving into the communities that are behind those collections.”
The Floor iOS and Android app is currently in a closed beta test for a small community of token holders. It is led by co-founder and chief operating officer Christine Brown, who was previously the crypto chief operating officer at investing platform Robinhood, and co-founder and chief technology officer Siddhartha Dabral, who formerly founded software company Button Inc.
In June of last year, Floor raised $8 million in a Series A round led by 6th Man Ventures, the investment firm led by Mike Dudas, founder of crypto publication The Block.
Currently, Floor supports data from collections minted on Ethereum and Polygon, and plans to incorporate more chains down the line.
"I am very excited to be combining our communities and products, as WGMI users have been asking for a mobile app for quite some time," Thomas Mancini, CEO and founder of WGMI.io told CoinDesk. "The acquisition will allow us to improve the tech on both sides while merging features that make sense for each respective platform."
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A portion of the stolen ethereum was subsequently sent to several virtual asset providers and converted to bitcoin, the FBI said. The FBI said North Korea's theft and laundering of virtual currency is used to support its ballistic missile and Weapons of Mass Destruction programs. In June last year, California-based Harmony said that a heist had hit its Horizon bridge, which was the underlying software used by digital tokens such as bitcoin and ether for transferring crypto between different blockchains.
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The ETH/BTC currency pair has declined 8% since Jan 11, as the price increase in bitcoin has been more pronounced than ether’s; BTC hovers near $23K in Monday trading.
The SEC and CFTC are unlikely to issue new rules covering crypto this year. But, if they did, calls from policymakers to regulate through rulemaking rather than enforcement offer a useful way forward, says Michael Selig, an attorney at Willkie Farr & Gallagher.
The New York Department of Financial Services released a set of guidelines for safeguarding digital assets.
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