Blockchain analytics platform Nansen has announced the launch of a new product that it believes will serve as a foundational piece of the social layer within Web3: Nansen Connect.
For starters, Nansen believes that a blockchain wallet is a form of identity. From a social perspective, the wallet labeling services pioneered by Nansen work somewhat like a game. Using Nansen Connect, users can log in with their crypto wallet, select a username based on their Nansen wallet labels, join groups based on crypto holdings and onchain behaviors, send DMs to other users with end-to-end encryption, monitor key collection statistics and user holding information in real-time, and will eventually be able to build OTC channels for more efficient trading.
Additionally, Nansen envisions this app as a compass in helping users navigate Web3 – a largely uncharted world in which the rules and social norms are still in the process of being established. On Nansen Connect, collectors can monitor in real time whether developers are dumping their holdings, reducing the risk of scams. Moreover, communities will be able to better filter noise within their own ranks, as it will be easier than ever to recognize and acknowledge the highest-conviction holders.
While certain Web2 platforms can be used to token-gate communities, they rely on plugins and are rife with scams. Nansen Connect offers a secure, crypto native method for users and groups to explore the frontiers of Web3 communication.
The Beta version of Connect will focus primarily on profile picture (PFP) communities and users, as well as label-based communities and end-to-end encrypted direct messages. Users will be able to join groups based on their holdings, view key stats about a collection, and easily move between the chat interface and user wallet profiles.
After its launch, Nansen plans to regularly onboard new waves of communities. Over time, Nansen will expand group options to enable users to quickly form new groups, create Smart Money-specific channels, and may explore enabling OTC trading between Connect users.