BitsCrunch: “We will be the NFT Ecosystem Guardians”

While NFTs are becoming more and more common – for example in digital arts – the comparably young system is still facing several challenges. From fair pricing to right out forgery, there is still a lot of work to do. But BitsCrunch, a startup from Munich, Germany, is working on these challenges. Founder Vijay Pravin told us more in an interview.

Munich Startup: Who are you and what do you do? Please introduce yourselves!

Vijay Pravin, BitsCrunch: I am Vijay Pravin (30), the founder & CEO of BitsCrunch. I hold a Master of Science in Electrical Engineering from TUM and was awarded as 40 under 40 Data Scientists in India and as Top 20+ inspiring data scientists to be followed on LinkedIn. Before launching BitsCrunch I have been working for Siemens and Volkswagen. My Co-Founder Saravanan Jaichandaran (28) holds a Master of Science in Data Analytics from NCI in Dublin, Ireland. Other shareholders of BitsCrunch are Ashok Varadharajan and Ajay Prashanth.

BitsCrunch is a Blockchain Analytics company, headquartered in Munich, Germany, and also operating in Tamil Nadu, India. We are providing AI-enabled securing services to bolster the NFT Ecosystem. BitsCrunch was founded in 2020, amidst the pandemic. We have been bootstrapped until mid of 2021, and then closed a Seed round of 750,000 Dollar.

Our vision is to be the NFT ecosystem protector and make it a safe place for NFT collectors and creators. To achieve this, it is our mission to become a trusted partner to our customers by providing differentiated products and services to help protect the NFT ecosystem.

BitsCrunch faces different challenges of the NFT ecosystem

Munich Startup: What problem does your startup solve?

Vijay Pravin: At BitsCrunch we solve the following problems:

  1. Wash Trading (Editor’s note: Wash Trading is a way of market manipulation by simultaneously buying and selling the same asset.)
  2. Fair Price Estimation of NFT Assets
  3. Real-time NFT analytics and portfolio tracker
  4. Digital Asset Forgery

Munich Startup: But that’s nothing out of the box!

Vijay Pravin: In short, we would like to be the verified tick mark of NFTs like in Twitter, and be like an NFT Police.

Munich Startup: What have been your three biggest challenges so far?

Vijay Pravin:

  1. Public Outreach
    1. Data Availability
    1. Lack of awareness about the full potential of NFT’s and Blockchain

Munich Startup: Where do you see your business in one year, and where in five years?

Vijay Pravin: In one year Year we want to acquire the top marketplace players as our customers and become a brand for the NFT ecosystem. An in five years we will be the NFT Ecosystem Guardians, making the NFT ecosystem a better place for the creator economy.

Munich Startup: What do you think about Munich as a startup location?

Vijay Pravin: Munich is one of the great cities in Germany, which is quite international. It helps us scale the business faster as Munich provides to collaborate with so many startup communities and events.

Munich Startup: Coworking or your own office?

Vijay Pravin: Co-Working – at Werk1, near Ostbahnhof, Munich.