Blockchain analytics company Flipside Crypto has been released ShroomDK, an online Software Development Kit based on nonfungible tokens (NFTs) that offers an automated way to pull “complete” blockchain data via software.
According to Flipside Crypto, the SDK can be modified or resold more readily because it is NFT-based. The capacity to automatically (programmatically) retrieve blockchain data from different chains has been an “essential piece of missing infrastructure for blockchain developers and analysts,” according to co-founder Jim Myers.
Software that is supplied online rather than locally on devices is known as software-as-a-service or SaaS. A software development kit, or SDK, is a collection of tools used to build programs for certain hardware or operating systems. With the use of Flipside Crypto’s tokenized SaaS SDKs, customers can resell their software development kit access once they are done using it.
Developers can query data from Ethereum, BNB Chain, Avalanche, Solana, Near, Flow, THORChain, and Algorand using ShroomDK NFTs, and Layer-2 solutions like Optimism and Arbitrum have also been mentioned.
Speaking with Cointelegraph, FlipSide Crypto co-founder and CEO Dave Balter stated the NFTs will save users the trouble of having to “manage nodes, complex data pipelines or petabyte-scale databases,” while also offering users a chance to squeeze more value out of their software licenses:
“Wrapping SDK access in an NFT gives a user control over their license. Software licenses are often a sunk cost, meaning if you don’t utilize the purchased license it goes to waste. That’s not great for the end-user, and it’s not great for the provider of the product.”
“Remaining usage may be sold to anyone by converting the license into an NFT. Both the original holder, who can turn a sunk expense into something valuable, and new users can test out a product at a discount gain from this, he continued.
Additional free NFTs called “Spores,” which allow customers to enhance their query capacity can also be used to upgrade the NFTs.
According to Balter, the NFTs have already been distributed in a closed beta over the course of the past month, and the project has received significant interest from 50 influential experts and groups in the cryptocurrency industry, including “people from Rabbithole, Optimism, LlamaDAO, 0x, etc.”
Balter stressed that project usefulness is particularly crucial in light of the present bear market. He was speaking about the idea that NFTs are related to specific use cases rather than being purely a speculative asset.
“Crypto winter has put added pressure on every blockchain to grow and retain developers and users. Project utility is king, but it requires continuous insights for builders to get it right. That’s why ShroomDK is needed now.”
Flipside Crypto is renowned for offering on-demand analytics for blockchains and giving crypto firms data and intelligence. For “analysts to learn, interact, and compete to solve analytical challenges via structured bounty programs,” the company offers a free, open data platform.
The SDK was released in response to Flipside Crypto’s recent $50 million Series A fundraising round, which was led by Republic Capital and included leading cryptocurrency companies Galaxy Digital Ventures and Dapper Labs.