Web 3.0 Company Treehouse Acquires Origins, Targets Its NFT-Related Tools
With this acquisition, Treehouse would be hoping to integrate Origins’ technology into its product portfolio.
Treehouse, a Singapore-based Web 3.0 data firm, has announced its acquisition of non-fungible token (NFT) analytics platform Origins. According to the announcement, the deal is part of Treehouse’s efforts toward bolstering its NFT product offering.
Treehouse to Tap Origins’ Tech
Origins, originally, offers NFT-based data analysis using both on-chain and off-chain data. Its software helps professional NFT traders, protocols, and game studios alike to make informed decisions about trading and collection.
Therefore, with this acquisition, Treehouse would be hoping to integrate Origins’ technology into its product portfolio. This means, its clients may now have access to some popular Origins tools such as AlphaStream – a live NFT wallet notification system, and NFT Analytics Bots – a command-based generated NFT market analytics.
In a statement, Treehouse CEO Brandon Goh expressed the company’s excitement about the acquisition. He noted that the deal coming at a time such as now only further proves the commitment of Treehouse to Web 3.0 analytics. The statement reads in part:
“Despite the bear market, Treehouse is expanding and is actively looking to acquire synergetic businesses.”
Goh also added that the acquisition deal is a very strategic one in that the deal was decided upon with its clients in mind. He says that Treehouse is committed to its clients, many of whom it is aware have NFT exposures.
More Mergers on the Way
According to the firm, the latest acquisition is one of many others to soon follow. It currently boasts a very strong balance sheet and is already mulling over potential mergers and acquisitions (M&A) opportunities, the company claims.
Meanwhile, all the M&A efforts look to be geared towards its goal of becoming “The Most Comprehensive Digital Asset Analytics Platform.”
In 2021, the firm raised $18 million in a seed round that saw participation from top venture capital (VC) firms and investors. The likes of Lightspeed, MassMutual, Binance, Mirana, LeadBlock, Jump, GSR, Wintermute, and many more took part in the round.
Treehouse did not disclose the financial implications of the Origins acquisition deal. However, it will be hoping that it paves the way for it to delve deeper into the world of NFT.
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