Paradigm and Sequoia Capital are competing to invest in a project that is valued at 200 million.

In the context of an overall bearish market, Web3 professionals are increasingly inclined towards infrastructure development and the overall layout for the next bull market, rather than widely participating in investment activities. As a result, the activity frequency of Web3 developers is growing explosively at a visible rate.

However, the increase in development frequency has also gradually exposed a series of issues, the most acute of which is that the previous infrastructure has become somewhat outdated compared to current development activities. This makes it difficult for blockchain developers to build scalable applications.

In response to this, some senior personnel have keenly detected the problem and have begun to focus on the renewal of Web3 infrastructure for developers. Today, we will introduce a project dedicated to providing flexible and reliable blockchain indexing for Web3 developers – nxyz.

nxyz is a multi-chain indexing product suite that exposes real-time blockchain data through low-latency APIs. The developers of nxyz are committed to providing a first-class data infrastructure for users, allowing Web3 developers to spend more time building user-facing applications without wasting time on building the infrastructure itself.

nxyz aims to enable a new generation of builders, creators, and entrepreneurs to develop a better internet by providing fast, flexible, and reliable blockchain indexing and data infrastructure. Its platform can directly ingest real-time data from the blockchain and its related applications.

nxyz provides developers with a high-performance API suite to help them easily use blockchain data. The blockchain API of nxyz, built by distributed system engineers behind Google and Neeva, can provide real-time blockchain data in less than 200 milliseconds. Its ability to support high throughput will directly benefit applications such as wallets and NFT projects.

In terms of the team, nxyz is mainly composed of Web3 enthusiasts and veterans of distributed systems who participated in the early infrastructure of Google’s search and advertising service systems. nxyz hopes to build a large-scale full-stack real-time indexer for billions of data points through the work of its search technology experts.

With a strong team background, nxyz is quite confident in its product. The team has even stated that there is no product on the current market that can provide the speed, uptime, throughput, and flexibility that nxyz can guarantee. In fact, the performance of nxyz is indeed outstanding.

Its API provides access to common entities such as NFTs, fungible tokens, and balances. If users have more complex needs, they can also specify custom indexing patterns for any contract. nxyz’s ultra-fast multi-chain indexing infrastructure can provide a solid foundation for users’ development in Web3.

nxyz’s data is mainly captured and cached from on-chain and off-chain sources. So far, it has processed more than 5 billion transactions. As a mature product with a large transaction volume, nxyz has a wealth of Web3 data’s ready-made APIs:

1. NFT: Cached media, metadata, latest price
2. Fungible tokens: Metadata, pricing source
3. Transactions: Complete transaction data and logs
4. Address profiles: Token balances and transaction history

Users can also specify their own indexing patterns for contracts not covered in nxyz’s predefined API suite. This process is not too high a threshold. Users only need to provide the contract ABI and the events they are interested in, and nxyz can generate customized endpoints for them on demand.

At the same time, as a mature consumer product, nxyz’s consumption model is tailored to the needs of users’ applications:

1. nxyz has a REST API with sub-second response time
2. It has a streaming API for on-chain event updates
3. nxyz will also introduce SQL queries for running real-time, rich on-chain data

According to the information provided by the project side, the strength of nxyz’s team is quite remarkable. Many of them are veterans in building distributed systems, and some have even participated in the early infrastructure of Google’s search and advertising service systems. It can be said that the team has to a certain extent expert-level development capabilities, which also provides strong support for the research and development of its products.

According to nxyz’s announcement, it has recently completed a considerable A round of financing. On October 12, 2022, nxyz announced the completion of a $40 million A round of financing, led by Paradigm, with participation from Coinbase Ventures, Greylock Partners, Sequoia Capital, and angel investors such as Balaji Srinivasan, Jaynti (JD) Kanani, Jing Wang, Packy McCormick, Surojit Chatterjee, and Ryan Selkis.

From this announcement, nxyz’s investment lineup can be described as luxurious, with top institutions such as Paradigm, Coinbase Ventures, and Sequoia Capital being particularly eye-catching.

At the same time, under the current market where the heat has almost dissipated, as an infrastructure project that is not advantageous in terms of exposure, nxyz’s $40 million A round of financing is indeed very eye-catching.

With the dual addition of top investment institutions and high financing amounts,