Data provider CryptoSlam and crypto news site Forkast.News have combined to become Forkast Labs, a web3-focused media company.
The pair, which are portfolio companies of software investment giant Animoca Brands, will build data tools, indices, and methodologies to value the digital economy, alongside providing reporting and analysis, a release said.
Animoca Brands founder and executive chairman Yat Siu shepherded the merger, according to a report in Bloomberg. The terms of the deal were not disclosed.
Former Bloomberg anchor and founder of Forkast.News, Angie Lau, and founder of CryptoSlam, Randy Wasinger, will be co-CEOs of Forkast Labs. Sarah Chang, co-founder of Forkast.News, will be COO of the combined entity.
“This merger comes at a pivotal moment for the crypto industry," said Lau. "The entire industry has been valued against volatile price movements, which has created a high degree of speculation. Trust in crypto has been eroded as a result, but we have the power to change that with this merger."
CryptoSlam was created in 2018 and has become a popular destination for tracking NFT prices. This time last year, it raised $9 million in an oversubscribed round led by Animoca. Forkast.News was founded the same year and raised a seed round in 2021, according to Crunchbase data.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.