{"id":78038,"date":"2021-11-29T08:38:00","date_gmt":"2021-11-29T07:38:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=78038"},"modified":"2021-11-25T13:48:40","modified_gmt":"2021-11-25T12:48:40","slug":"bitscrunch-7-questions","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/78038\/bitscrunch-7-questions\/","title":{"rendered":"BitsCrunch: \u201cWe will be the guardians of the NFT ecosystem\u201d"},"content":{"rendered":"
\n

Munich Startup<\/em>: Who are you and what do you do? Please introduce yourselves briefly!<\/strong><\/p>\n\n\n\n

Vijay Pravin, BitsCrunch<\/em>: I'm Vijay Pravin (30), the founder and CEO of BitsCrunch. I hold a Master of Science in Electrical Engineering from TUM and have been recognized as one of 40 under 40 Data Scientists in India and a Top 20+ Inspiring Data Scientists to Follow on LinkedIn. Before founding BitsCrunch, I worked for Siemens and Volkswagen. My co-founder, Saravanan Jaichandaran (28), holds a Master of Science in Data Analytics from the NCI in Dublin, Ireland. Other partners of BitsCrunch are Ashok Varadharajan and Ajay Prashanth.<\/p>\n\n\n\n

BitsCrunch is a Blockchain analytics company<\/a> Headquartered in Munich, Germany, with operations in Tamil Nadu, India, we provide AI-powered security services to strengthen the NFT ecosystem. BitsCrunch was founded in 2020, amid the pandemic. We were bootstrapped until mid-2021 and then closed a $750,000 seed round.<\/p>\n\n\n\n

Our vision is to become the protector of the NFT ecosystem and make it a safe place for NFT collectors and creators. To achieve this, our mission is to become a trusted partner for our customers by offering differentiated products and services that help protect the NFT ecosystem.<\/p>\n\n\n\n

BitsCrunch addresses the various challenges of the NFT ecosystem<\/h2>\n\n\n\n

Munich Startup<\/em>: What problem does your startup solve?<\/strong><\/p>\n\n\n\n

Vijay Pravin<\/em>: At BitsCrunch we solve the following problems:<\/p>\n\n\n\n

  1. Wash trading (Editor's note: Wash trading is a form of market manipulation through the simultaneous purchase and sale of the same asset<\/em>).<\/li>
  2. Estimating a fair price of NFT assets<\/li>
  3. Real-time NFT analytics and portfolio tracker<\/li>
  4. Digital asset forgery<\/li><\/ol>\n\n\n\n

    Munich startup<\/em>: But that's been around for a long time!<\/strong><\/p>\n\n\n\n

    Vijay Pravin<\/em>: In short, we want to be the verified checkmark for NFTs, like Twitter, and a kind of NFT police.<\/p>\n\n\n\n

    Munich Startup<\/em>: What have been your three biggest challenges so far?<\/strong><\/p>\n\n\n\n

    Vijay Pravin<\/em>:<\/p>\n\n\n\n

    1. Public reach<\/li>
    2. Data availability<\/li>
    3. Lack of awareness about the full potential of NFTs and blockchain<\/li><\/ol>\n\n\n\n

      Munich startup:<\/em> Where would you like to be in one year, where in five years?<\/strong><\/p>\n\n\n\n

      Vijay Pravin:<\/em> In one year, we aim to attract key market players as our customers and become a brand for the NFT ecosystem. And in five years, we will be the guardians of the NFT ecosystem, making it a better place for the creative industry.<\/p>\n\n\n\n

      Munich Startup: How do you rate Munich as a startup location?<\/strong><\/p>\n\n\n\n

      Vijay Pravin:<\/em> Munich is one of the largest cities in Germany and is very international. This helps us scale the business faster, as Munich offers the opportunity to collaborate with so many startup communities and events.<\/p>\n\n\n\n

      Munich Startup:<\/em> Coworking or own office?<\/strong><\/p>\n\n\n\n

      Vijay Pravin:<\/em> Co-working \u2013 in Plant1<\/a>, near the Ostbahnhof, Munich.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

      While NFTs are becoming increasingly popular \u2013 for example, in digital art \u2013 this relatively young system still faces several challenges. From fair pricing to combating counterfeiting, there's still a lot to be done. But BitsCrunch, a Munich-based startup, is working on these challenges. Founder Vijay Pravin tells us more in an interview.<\/p>","protected":false},"author":33,"featured_media":78039,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5634,5638,4074,1083],"tags":[4202,4474,1636,4475],"acf":[],"yoast_head":"\nBitsCrunch: "Wir werden die W\u00e4chter des NFT-\u00d6kosystems sein" - Munich Startup<\/title>\n<meta name=\"description\" content=\"BitsCrunch, ein Startup aus M\u00fcnchen, will den NFT-Markt sicherer machen . 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