CryptoSlam and Forkast News merge in setting up Forkast Labs, a data intelligence platform

CryptoSlam and Forkast News merge in setting up Forkast Labs, a data intelligence platform

Forkast Labs, a new data intelligence platform, emerged as a result of a merger between two crypto-focused businesses, Forkast News and CryptoSlam.

Setting a new standard for measuring value

The news broke on January 17 through a press release by the companies. According to the publication, the synergy between the two companies will raise the bar in data intelligence with the formation of Forkast Labs.

The merger of data intelligence and media will set a new standard for measuring the true value of Web3 and the digital economy

Forkast Labs is the culmination of efforts between the blockchain data analytics platform, CryptoSlam, and crypto-based news and media company, Forkast News. It is a first-of-its-kind platform that will serve specific needs within the web3 community.

Restoring trust in the crypto industry

Forkast News is a media platform that has been around since 2018 after being co-founded by Angie Lau, a former Bloomberg anchor.

CryptoSlam, on the other hand, has become one of the top analytics companies for multi-chain aggregation of NFT data. The company was also founded in 2018, and pioneered by Randy Wasinger with the backing of several tech founders such as Reid Hoffman, Mark Pincus, and famous Shark Tank investor and owner of the Dallas Mavericks, Mark Cuban.

The release on Forkast Labs said that Randy Wasinger and Angie Lau are co-CEO of the company, while Sara Chang, the co-founder of Forkast News, is the company’s Chief Operations Officer (COO). Speaking about Forkast Labs, Angie Lau said:

“This merger comes at a pivotal moment for the crypto industry. 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.”

Telling crypto stories from different angles

Lau said that the merger of the two companies is a game changer at this point because both have been in the business of identifying values in the industry. While one told its story through data, the other did the same thing through journalism.

The release pointed out that Forkast Labs intends to standardize the methodology of valuing Web3 assets since, up until now, most existing platforms peg values based on the volatile crypto market price. It added that this is not an accurate way of measuring value since it is sentiment-driven.

This situation has been instrumental in eroding confidence in the market. According to Lau, Forkast Labs intends to change the narratives by introducing data tools, indexes, and reporting which methodologies give accurate value to the digital economy through effective analysis.

In his own statement regarding the merger, CEO Randy Wasinger said: 

“Joining forces with Forkast.News is an exciting milestone. CryptoSlam has established itself as the leader in multi-chain NFT data aggregation, and we now have the opportunity to parlay our infrastructure to serve an even wider audience. Just as Google organized the world’s information to make it useful for everyone, we at Forkast Labs are doing the same for the digital economy.”

The update by Forkast Labs said that the new company would soon launch its flagship data indexes, a business intelligence tool that accesses the true value of digital assets through real-time, blockchain data.

The company said that this would standardize the universal methodology used in the evaluation of blockchain-based projects down the line. According to the statement, the impact that Forkast Labs intends to create in the digital space will be meaningful and profound.

What the industry needs

Yat Siu, the Founder and Executive Chairman of Animoca Brands, is conversant with the Forkast Labs initiative as an investor in both CryptoSlam and Forkast News. According to Siu: 

“A media intelligence platform backed by industry-leading data analytics is what the blockchain industry needs right now. CryptoSlam and Forkast.News have excellent track records in their own right, and as a combined entity can bring trust and transparency to the Web3 ecosystem.”

Forkast Labs is operating out of Delaware, USA. The company stated that it will be the trailblazer in the protocol-to-protocol comparative analysis sphere and will help investors as the go-to platform. The ultimate goal is to standardize how the digital world reviews and participates in investment opportunities.

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