Solanalysis Rebranded to Hyperspace After Raising $4.5M

Solana was among the first few platforms that adopted NFTs before their global adoption. However, the network could not realize its optimal potential since it lacked a marketplace to trade and monitor them. The network did not wait too long before releasing Solanalysis, an NFT data site.

The platform created a niche by monitoring the top NFT collections on the blockchain by simplifying its comparison mechanism. Now, the network has rebranded the space to Hyperspace after raising 4.5 million dollars. This renaming was announced alongside news that the site had secured $4.5 million in startup funding, which the Solana team believes will help the network’s NFT ecosystem develop. The popular proof-of-stake network’s native SOL coin has risen 5.1 percent in the last 24 hours following the rebranding and announcement. According to this Solana coin price prediction, SOL could be on its way to being the next Ethereum and the overall ecosystem may grow enormously with its price levels.

Even before Solana wrapped up the rebranding, it added new functionalities to the data site. These features included the ability to monitor the value of their NFTs. It even added a launchpad for NFT-based projects where ventures can launch new collections. 

The rebranding has resulted in Solanalysis being renamed to Hyperspace, with its domain changing as well. The data site led a 4.5 million dollar seed round with Pantera Capital and Dragonfly. Names like Solana Capital, Jump Capital, Galaxy Digital, NFX, Coinbase Ventures, Shima Capital, 6th Man Ventures, Sfermion, Social Capital, Folius Ventures, and Soma Capital also participated in the round.

Although the platform raised the money a while ago, it only announced the seed round recently. The data site also plans to conduct another round in a couple of months. In addition, Hyperspace also plans to enter the NFT trading sector using an aggregator.

The integration will allow users to buy NFTs from any primary Solana NFT marketplaces, offering a one-stop trading station. Kamil Mafoud, Hyper Co-Founder, commended the development stating that Hyperspace will become the epicenter for the NFT operations.