On January 17, it was revealed that data supplier CryptoSlam and cryptocurrency news website Forkast.News has merged to form Forkast Labs, a media organization with a Web3 focus.

According to a press release, the two, which are portfolio businesses of the world's largest software investment firm, Animoca Brands, will develop data tools, indices, and methodologies to value the digital economy in addition to provide reporting and analysis.

Yat Siu, the founder and executive chairman of Animoca Brands, is credited with guiding the transaction, according to a Bloomberg article. The terms of the arrangement were kept private.

Randy Wasinger, the developer of CryptoSlam, and Angie Lau, a former Bloomberg anchor and the founder of Forkast.News, will share the role of CEO of Forkast Labs. Sarah Chang, a co-founder of Forkast.News, will be the new organization's COO.

“This merger comes at a pivotal moment for the crypto industry," said Lau. "The entire industry has been valued against volatile price movements, which has created a high degree of speculation. Trust in crypto has been eroded as a result, but we have the power to change that with this merger."

The website CryptoSlam was developed in 2018 and has since gained popularity for tracking NFT pricing. In a round that was oversubscribed and led by Animoca about this time last year, it raised $9 million. According to Crunchbase statistics, Forkast.News was established in the same year and raised a seed round in 2021.