Cymbal unveils new Ethereum blockchain explorer with a social twist
Introducing Cymbal, the first “human readable” Ethereum block explorer, now launched in beta. Traditional blockchain explorers such as Etherscan have become indispensable tools for developers and traders, but their complexity often leaves the average user grappling with overwhelming amounts of data. Cymbal intends to change that by providing an accessible, visual, and social alternative.
The social explorer
Cymbal takes public blockchain data, usually seen on standard explorers, and presents it in a format that’s easily understandable, visually appealing, and engagingly social. Unlike traditional block explorers that mirror command-line interfaces, Cymbal aims to shift to a graphical user interface (GUI) style akin to a social network platform.
The dashboard of Cymbal not only wraps up transaction details but also showcases NFT artworks from top collections like the Bored Ape Yacht Club. It provides public information on known wallet owners, relevant news stories, and data trends. An AI tool is employed to present a conversational summary of transactions and trends, simplifying understanding for the average user. This tool is powered by OpenAI’s GPT large language model.
A focus on NFTs
While Cymbal’s initial focus is on NFTs, the platform intends to progressively incorporate richer data concerning cryptocurrency and token transactions. The aim is to become a comprehensive alternative to Etherscan. In addition, support for the Solana blockchain is anticipated in the coming weeks, with the Ethereum scaling network, Polygon, expected to follow closely.
NFTs were chosen as the initial focus due to their visual nature, making them ideal for a platform like Cymbal. Moreover, NFTs are increasingly becoming the entry point for individuals into the crypto space, which aligns with Cymbal’s goal of enhancing accessibility.
More than just an explorer
Apart from exploring blockchain data, Cymbal also allows users to follow wallets and projects. Wallet owners can claim their page and customize it, creating a “Web3 profile.” Future updates may include features like messaging, content publishing, and other social tools.
With $18.5 million raised to date from reputable investors like Coinbase Ventures, Solana Ventures, CAA Connect, UTA Ventures, Shima Capital, and Google Ventures (GV), Cymbal is positioned for success. The startup anticipates generating revenue through targeted advertising based on wallet data and selling curated data to app builders via API access.
Cymbal’s mission is to assist the average NFT and crypto user in navigating the blockchain space and facilitate industry expansion by making tools more accessible. As CEO and co-founder Eric Feng points out, Cymbal is designed “for the masses” – not just the current tens of thousands of hardcore crypto enthusiasts, but the tens of millions who will join the ecosystem given better tooling.
