The center raises $11 million to create an NFT search index
Center Today Non-Fungible Token Tool Company announcement that it raised $11 million in a funding round led by Thrive Capital and Founders Fund to create a search product that will index NFTs across multiple blockchains.
The company believes that it can increase the utility of NFTs, which are a type of crypto asset, by providing services and tools that make them more useful to developers. NFTs represent ownership of digital items, such as artwork, music, files, or other virtual assets stored using blockchain technology that can be bought, sold, and traded.
Amid Center’s premier NFT tool is an NFT rendering application programming interface, which allows developers to easily render any graphical NFT from any blockchain with a single line of code. The goal was to make it as simple as using an HTML tag in a web page.
Now Center creates an index of NFTs the same way search engines index the web. To date, the company has indexed over 135 million NFTs. The goal is to enable developers to quickly and easily provide NFT discovery capability across multiple blockchains using metadata for NFT discovery and integrate the results into their applications.
“Our built-in NFT search API allows you to integrate free text search using the same search engine we built that powers center.app,” the company wrote in a blog post. “We’ve already indexed over 120 million NFTs, track most fractional-block strings, and strive to deliver world-class search experiences that take you less than five minutes to build.”
Currently, Center supports over 10 different blockchains for searchability and switching between them is as easy as changing a configuration option. Chains supported by Center include Ethereum, Polygon, Fantom, Avalanche, BSC, Solana, Optimism, Harmony, Starknet, Arbitrum, and Celo. The company said if it’s a blockchain or a layer 2 scaling solution, it’s on the roadmap for the addition.
The center’s tools are already used by crypto and blockchain companies such as decentralized crypto infrastructure provider 0x Labs and lending platform NFT Astoria.
“We had tried every other NFT API on the market, and Center was the only option that could scale to reliably meet our needs,” John Johnson, CTO of 0x. “Center has helped us bring new products to market months faster and turned a months-long engineering effort into a few lines of code.”
NFTs have seen a rapid rise in market values in 2021, leading to $41 billion in transaction volume. However, the markets lost 23% of their market value mid-June during what has been dubbed the “crypto winter” when overall markets suffered a broader decline.
As a result, Center is not the only NFT search engine entering the market. Another example includes Number Protocolwhich describes itself as a Web3 search engine – or a search engine for the “semantic web” – claiming to be the first for NFTs. NFT LABORATORY, which also claimed to be the world’s first NFT search engine. HUMBL also announced Search 3a search engine capable of discovering the NFT string.