Bello

February 14, 2024

Discover actionable insights on wallets through a simple search

Written by Ali Smith, Portfolio Manager, Consensys Mesh

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Summary

Adam Levy and Ellie Farrisi came up with the idea for Bello through their shared experiences working in Web3. Adam, host of the popular Mint podcast, recognized the need for better tools to understand his audience. Ellie, a software engineer, had worked closely with Web3 creators and understood the technical requirements for developing the tools they needed.

Adam and Ellie assembled a small team of developers and built Bello’s MVP at ETH Amsterdam 2022. Their goal was simple: make on-chain data accessible to everyone. Now, Bello is doing just that with a no-code analytics platform that delivers real-time insights on blockchain data, through an impressive UX.

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Team

Following ETH Amsterdam, Adam and Ellie completed a16z’s Crypto Startup School, raised a pre-seed round and expanded their team to five. The company is headquartered in New York City.

Co-founder and CEO Adam’s podcast Mint is dedicated to the Web3 creator economy. With a monthly audience of over 50,000 listeners, the insights gained from the podcast have been instrumental in shaping Bello's product strategy. His background includes advising early-stage Web3 startups at Draper Goren Holm and coordinating large scale blockchain events.

Ellie, Co-founder and CTO of Bello, is a full stack developer who began her career at Lockheed Martin where she developed software to test rocket circuit boards. She went on to work at NBC Universal and Comcast where she focused on big data transformation and full stack development.

How does Bello work?

Bello turns complex on-chain data into actionable insights delivered through dynamic dashboards. Features include:

Search and Cohort Building: Bello lets users tailor their searches by filtering data based on NFT collections or POAPs, uploading addresses through CSV files, or deploying a combination of these methods for customized searches.
Contract and Wallet Analysis: The platform provides reporting across both contract-level and wallet-level data, and the ability to export data for more in-depth analysis.
Community Engagement: Bello shows what other communities individuals are a part of for potential cross-promotion or collaboration opportunities.
Tagging Smart Contracts: Utilizing proprietary machine learning models, Bello tags and categorizes smart contracts, abstracting away the complexities of on-chain data and making the data easy to understand and act upon.
Loyalty Metrics: By monitoring the duration assets are held, Bello provides insights into community loyalty.
Event Interests: Leveraging AI, Bello shows which types of events your community has attended and the various locations of the events on an interactive map.
Social Growth: Bello actively tracks Web3 social platform activity and identifies influential community members.
Pricing and Purchase Behavior: Users can analyze community purchasing patterns to see when their community is most active and what their preferred price ranges are.
Sending Messages: Bello’s integration with XMPT lets users send messages directly to digital wallets, bridging the gap between insights and interaction.

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What is an example use case?

Jane is the marketing lead at an athletic clothing company, and they're about to drop their first NFT collection. In order to develop their strategy, they’re using Bello to look at competitors' NFT activity and history. Their focus is on analyzing Nike’s NFT activity to understand the sales performance, customer behavior and customer profiles associated with this campaign.

To create the dataset, Jane has the option to select the collections, upload wallet addresses, or use both methods to build a customized dataset. After finalizing her setup, she simply clicks 'Search,' and Bello displays the data in real-time.

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Business Reporting: Sales and Customer Behavior

Jane uses the revenue dashboards to gain insight into customer engagement. The earnings dashboard showcases key sales metrics; for example, it highlights Nike's NFTs have generated 40.64 ETH over the last 90 days. Automated charts like the royalty revenue line offer more granular data. By hovering over the line chart, she can view daily revenue figures, including volume and royalties breakdowns. Take, for instance, the top earning day, January 19th, total sales volume reached $437K, translating to $6K in royalties. Sales are noted across five marketplaces: OpenSea, Blur, SudoSwap, LooksRare, and X2Y2, with OpenSea reporting the highest sales volume and royalties.

The loyalty dashboards provide insights into customer engagement by tracking the frequency of sales. Nike’s NFTs have a median holding time of two days, this rapid buy-sell pattern boosts sales and royalty figures. While the average holding time is 36 days, indicating that some customers are holding their NFTs for a longer period, although the general holding period is short.

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Wallet Reporting: Customer Holdings

The wallet breakdown dashboards offer Jane an overview of customer holdings, showing an average wallet value of $269K. These holdings are primarily in small-cap tokens with higher volatility relative to ETH. This indicates that the liquidity available in wallets is likely to undergo substantial fluctuations in response to the overall performance of the market. The common assets dashboard highlights shared NFT interests within Nike’s audience, such as ENS or OS Shared Storefront NFTs, suggesting active participation on Ethereum and OpenSea. Popular items also include Art NFTs and metaverse assets like The Sandbox ASSETS, revealing broader interests.

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Social Reporting: Online Social and IRL Events

A small percentage of customers (3.88%) are active on Lens, but a significant portion (29.53%) have collected POAPs, with 70,381 claimed at virtual events and 28,261 at in-person events. Given that POAP is a relatively nascent protocol, Jane can infer that at least 30% of Nike NFT holders are engaged in the broader Web3 community. The geographic distribution of event attendees is widespread, with most events in the US, Europe, Asia, and, to a lesser degree, Australia and South America. For more detailed insights, we can review the list of POAPs and examine specific events, sorted by attendee numbers in the cohort.