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Article: Saving $1m a year with the SimpleHash API

Published on: 2/14/2024

Saving $1m a year with the SimpleHash API

Saving $1m a year with the SimpleHash API

To the naked eye, the NFT industry is but a simple one, where creative juices run wild and projects create, tokenize & mint their wildest dreams as the community cheers on from the sidelines. For those enabling the festivities, a world filled with potholes, ever-growing consumer standards and code-based savagery is a reality. 

The operational costs for developers building the space's infrastructure are high, from indexing and data storage to intangibles such as customer experience. At SimpleHash our NFT data platform saves customers up to $1M annually on engineering time and compute.

Being trusted by many teams across a wild variety of disciplines, all with their own unique situations, has proven a favorable test for our API, as it has allowed us to solve many weird and wonderful problems with our technology

Here we’ll explore some key cases on how we helped our clients reduce their costs and significantly increase operational efficiency with a simple integration.

Metadata and media madness - Saving DappRadar $84k

Industry goliath and leading dApp store - DappRadar - came to us regarding their issues with media file storage. The company was spending thousands per month on storage of media files for 14,000 dApps across 51 different blockchains. With such an array of different media formats needing to be stored then rendered and loaded in real-time, their site speed and user experience were hit.

On a mission to recover face with users, improve UX, and reduce costs, they contacted us to simply hash it over. Our low-lift integration and transparent, cost-effective pricing solved both pain points, providing DappRadar with automatic data refreshing and cached media previews at hyper-competitive pricing. Since partnering, our multi-chain NFT API has provided DappRadar with a best-in-class data infrastructure that has allowed them to solve both problems without a hitch, saving them $84,000 annually and bolstering their user experience.

Michael Ionita, VP of Engineering at  DappRadar, tipped his hat to the forward-thinking nature of our team, citing that, 

Whenever we find edge cases, the SimpleHash team has already thought of those and taken steps to ensure they won’t happen”

And looks forward to a long-term relationship with SimpleHash.

Improving data accuracy and reducing costs - Saving Tholos $10,000/month

Tholos, a leading MPC wallet provider, was struggling to find the right data infrastructure partner to support their chain-agnostic wallet. When scaling a chain-agnostic solution, it is imperative to keep the quality of data high for users to ensure a cohesive and standardized experience. The Tholos team couldn’t find a vendor who could provide sufficient data at the speeds required, and the opportunity cost of an in-house team was too high.

Being confident in our product, we provided Tholos with an extensive set of trial runs which, according to Tholos CEO Abraham-Litwin Logan “surpassed expectations”.

Not only did our API prove itself powerful enough to support Tholos, but with our direct communication with Tholos, they are notified at every instance of a new chain integration in our pipeline, ensuring an alignment of roadmaps going forward. Thanks to our solution, Tholos has now bolstered its data infrastructure and customer experience, whilst saving 5-figures monthly on operational costs.

Exceeding consumer demands, fractionalizing cost - Rainbow’s $750K expense reduction

As we touched on earlier, consumer expectations in the NFT space are always on the up. Investors and enthusiasts keep projects to the highest standard, and the infrastructure supporting them must follow suit. Rainbow was facing issues with the customer in-app experience. Delays in transaction data processing were affecting how customers view the platform, and the team needed a reliable solution for a troubleshooting mechanism that would enable them to enhance their UX and drive retention.

With user expectations rising, quick solutions enter the market to fill the needs, but end up creating fragmented standards and unreliable infrastructure. Fortunately for Rainbow, SimpleHash had a solution that was priced competitively, and did more than solve their issues.

SimpleHash’s solution not only solidified Rainbow’s UX, but lifted $750k in indexing costs. By using SimpleHash’s API, they freed precious engineering time and expense, giving them much-needed flexibility and the ability to reallocate capital to invest in the growth of the company.

A win-win!

Dora’s search for indexing solutions - Saving $500k in operational expenses

You might have noticed a running theme here, there are serious challenges with NFT data indexing - and Dora felt it more than most. Dora is the first multi-chain search engine for on-chain and online applications. Multi-chain dApps and developers face issues with data fragmentation, and while there are many data providers, there are few who will diligently decode, index, and label data.

Building a project as comprehensive as Dora requires support from the most complete indexing of data across all chains - and current solutions were not up to par. Similar to Thalos, the opportunity cost of taking development in-house was a dead-end and when things looked bleak, Dora found SimpleHash.

Partnering with SimpleHash provided Dora instant access to indexed NFT data from every major blockchain through our API. Our unified cross-chain schema allows for multichain querying from one place, giving you broad and robust chain coverage. Not only did SimpleHash save Dora $500k in development costs for data pipelines, but they provided their solution with speed, efficiency, and ease. CEO of Dora, Bunny, feels that they have found their long-term partner for growth, who is aligned with their vision.

Wrapping up

The NFT space is ever-expanding, and we are here to support its growth. With new projects, chains, and token standards popping up, SimpleHash is ready to help fast-moving teams exceed customer expectations, save costs, and drive growth with our battle-tested API. Deriving data from all the main marketplaces, our API is flexible and adaptable to your use case - from analytics to crypto taxes, we have you covered.

For more on our API, check out our documentation.

Getting NFT data is hard.

SimpleHash makes it easy.

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