NFT Management Application Floor Acquires Data Platform WGMI.io

Non-fungible token (NFT) management application Floor has acquired WGMI.io, an NFT data platform, the company said Monday.

Floor, which allows traders to view and manage their portfolio of NFTs, will soon give users a more robust experience by incorporating WGMI.io’s dataset. Users will be able to view not only their assets but also associated price floors and trading volumes.

Chris Maddern, co-founder and CEO of Floor, told CoinDesk that NFTs represent the intersection of “culture and money,” and that it is important to create a platform that supports those facets with data.

“People just don't want to spend hours going and looking at all these [marketplaces] to figure out what's going on,” said Maddern. “What we found is that people can now start to spend more of their time actually making [trading] decisions and diving into the communities that are behind those collections.”

The Floor iOS and Android app is currently in a closed beta test for a small community of token holders. It is led by co-founder and Chief Operating Officer Christine Brown, who was previously the crypto chief operating officer at investing platform Robinhood Markets; and co-founder and Chief Technology Officer Siddhartha Dabral, who formerly founded software company Button Inc.

In June, Floor raised $8 million in a Series A round led by 6th Man Ventures, the investment firm led by Mike Dudas, founder of crypto publication The Block.

Currently, Floor supports data from collections minted on Ethereum and Polygon, and plans to incorporate more chains down the line.

"I am very excited to be combining our communities and products, as WGMI users have been asking for a mobile app for quite some time," Thomas Mancini, CEO and founder of WGMI.io told CoinDesk. "The acquisition will allow us to improve the tech on both sides while merging features that make sense for each respective platform."