nxyz

Prior to its acquisition, a bull case for nxyz would have involved rapid expansion of its Web3 data infrastructure, securing dominant market share against competitors like The Graph, and achieving a high-multiple acquisition or IPO. However, the company was acquired by Snowflake on July 26, 2023, and its standalone equity opportunity is now closed. Any prior equity holders would have realized their gains/losses at the undisclosed acquisition price.

The base case for nxyz as a standalone company would have seen steady growth in its niche, facing strong competition and evolving regulatory landscapes. An eventual acquisition by a larger player like Snowflake was a likely outcome, providing an exit for investors and employees. This scenario was realized with the Snowflake acquisition, closing the standalone equity opportunity.

A bear case for nxyz, prior to acquisition, would have involved intense competition from incumbents, regulatory headwinds, or a slowdown in the Web3 market, leading to a down round or an acquisition at a price that offered little to no return for common stockholders. Given the acquisition by Snowflake and the discontinuation of the nxyz API, any new offer of nxyz equity is effectively worthless.