Vijay Pravin Maharajan is a data expert, entrepreneur, angel investor, and founder of the blockchain data analytics company bitsCrunch, one of the most reliable AI-powered blockchain data analytics platforms. This article is an account of his journey building In Web3.
The founder and CEO of bitsCrunch, Vijay Pravin appeared on the Top 40 under 40 list of India’s Data Scientists, and on the 20+ list of leading Data Scientists by AI Time Journal (U.S). In addition to his leadership role at bitsCrunch, Vijay actively engages as a speaker at prestigious international forums throughout Europe, such as TEDx, Big Data Strategy Dialogue, Big Data Strategy Analytics, and numerous esteemed academic institutions.
On LinkedIn, he commands a large audience with frequent thought-leadership posts about management, emerging technology, data analytics, and Web3.
Now balancing between family and running a rigorous company, Vijay Pravin tells DroomDroom about his life at the helm of a blockchain data analytics company.
bitsCrunch,the brainchild of Mr. Vijay Pravin has caught attention of the blockchain community by pioneering an outstanding data analytics platform which has continued to garner massive community support since its birth to 2024, where the network is already warming up to the launch of its native cryptocurrency, $BCUT, which according to official announcements on X will launch on ByBit, KuCoin, Gate.IO, and CoinList Pro at 1:00 PM UTC on 20th February 2024.
On 16th February 2024, the bitsCrunch Genesis Pass NFT Collection sold out in record time, testifying the high demand for the platform’s collection and the strong community behind the network.
The mint was not only sold out within 24 minutes but also achieved a staggering 100 ETH in secondary volume on OpenSea by the close of the day. The NFT Collection also became number #1 trending on both Blur.IO and OpenSea.
Early Life of Vijay Pravin Maharajan
Vijay Pravin was born in Chennai, India. He attended Anna University, where he earned a bachelor’s degree in Electronics Engineering and Instrumentation.
In 2013, Vijay moved to Munich, Germany to pursue a master’s degree in electronics at the prestigious German University of Munich. During his time there, he also gained practical experience by working as a graduate research assistant for IFEN Gmbh in the first half of 2014, and later at Telefonica Germany as a research assistant until September of the same year.
Accidental Entry into Data Analytics
At Telefonica Germany, Vijay Pravin discovered his passion for data analytics. This happened quite unexpectedly when one of Telefonica’s data scientists left, and he took on the role. He devoted himself to learning, often spending nights in the library and catching the early morning train back to his dormitory. Vijay faced challenges due to limited internet connectivity and scarce resources on data science, but he persevered.
Early Professional Experiences
After leaving Telefonica in 2018, having served as a data scientist, Vijay joined Volkswagen AG in their audit department. There, he honed his skills in tools like Python, KNIME, and Qlick Sense. His tenure at Volkswagen was short-lived as he left in December 2018 to join Siemens as a Business Analyst.
Pivot to Blockchain: Founding bitsCrunch
Inspiration from the NFT World
Vijay’s interest in blockchain technology was sparked by an incident in his home city of Chennai, where a local bought the $69 million Beeple art NFT. This event, which he refers to as his “blockchain moment,” motivated him to apply his data expertise in the blockchain sector. He began by investing in Bitcoin and Ethereum, experiencing both profits and losses, and this led him to start building on the blockchain.
Launching bitsCrunch
In 2020, Vijay, along with his co-founders, launched bitsCrunch with offices in India and Germany. The purchase of the Beeple NFT by Vignesh Sundaresan had a significant impact on Vijay and his team, further fueling their venture into the blockchain space.
Vijay remembers Chennai as a conservative and minimalist society. You can imagine his surprise when someone from his Chennai neighborhood bought the famous $69 million Beeple art NFT.
In fact, he says this incident turned out to be his blockchain moment, the point at which he decided to apply his data expertise to the space.
The Mission to Re-define NFT Analytics
According to Vijay, the team would have opted for DeFi. However, seeing that data across the NFTs space was largely unexplored, the team decided to provide AI-driven data analytics solutions to NFTs before expanding into the entire blockchain space.
Their approach was simple but profound, built on a sophisticated data analytics framework consisting of advanced data processing algorithms, artificial intelligence, and machine learning.
This innovative approach to understanding NFTs would help identify and prevent malicious on-chain activities affecting non fungible tokens. The fact that people had and still have limited time for conducting due diligence convinced Vijay and his co-founders they could take up the bulk of due diligence work and notify end users.
Through the power of data, cutting-edge technology, and a deep understanding of the blockchain, Vijay remained convinced the idea was going to work.
bitsCrunch was not going to be a B2C company only. If a malicious person attempted to copy a brand or artist’s NFT collection, bitsCrunch would notify the owner that person X tried duplicating an exact copy of their collection on the blockchain.
This is how UnleashNFT became the earliest product in an expanding list of bitsCrunch’s blockchain analytics solutions.
Vijay Pravin has seen many companies in the Web3 space make promises they don’t fulfill. While he believes delivery is the key issue, for bitsCrunch, the game-changer has been sticking to the fundamentals, building a great use case, and giving investor value. For them, data was the value.
At the height of the bull market in 2021, NFTs soared into popularity, as did the volume of scams. As such, Vijay believes the next 5 – 10 years will see up to 100x the number of NFTs floating.
Fake mints and scams will always happen, and individuals, marketplaces, and platforms will have difficulty identifying scams, copycats, and wash trading.
Vijay Pravin, founder and CEO of bitsCrunch
The CEO emphasized bitsCrunch as a tool for democratizing and decentralizing access to reliable data. By parting with a small fee, anyone can access reliable insights and system alerts such as whenever someone wants to copy their collection or when an investor is about to purchase a fake.
Building the Future: Teamwork and Achieving Goals
In such a relatively short amount of time, bitsCrunch managed to establish a clear roadmap, capture the right market and build credibility. Thereby positioning the AI-driven blockchain data analytics platform to compete against early entrants such as Chainalysis and Dune, which have been building since 2015.
While it was tough at the start, Vijay says they tried as much as possible to win the numbers at a time when the market was 90 – 95% down. According to the bitsCrunch CEO, the startup did weather the storm. For two reasons, the team and the company’s unique data proposition.
When it comes to hiring,thanks to his 80K following on Linkedin, Vijay Pravin adds he’s been able to hire really efficient talent. The majority of the team at bitsCrunch has managed to work with the company for the last two and a half years.
He says the team at bitsCrunch rarely leave unless it’s a personal emergency or they need to pursue higher education abroad. The CEO attributes this to his management’s ability to foster a quality work-life balance. At bitsCrunch, they also do not work on weekends unless a fix is needed urgently. The CEO says this approach has increased their retention rate.
Another reason for his company’s success is the ability to set massive yet achievable goals. The CEO says they usually set big goals and break them into smaller, manageable chunks. He explained that when he has a ten-year goal, he breaks it into ten parts and mentioned that the approach has allowed him to continually assess the company’s position in relation to its annual goals.
According to the CEO, most of these achievements were only aspirations a decade before the birth of bitsCrunch.
Personal Insights: Vijay Pravin Maharajan on Work-Life Balance
In entrepreneurship, maintaining a balance between work and personal life can be a Herculean task. However, for the founder of bitsCrunch, this equilibrium is not just a goal—it’s a philosophy that permeates every aspect of his professional and personal journey.
In an industry where burnout is becoming rampant, Vijay says he’s always strived to clock atleast seven hours of sleep. He says there is a need for a good night’s sleep. As such, he tries to stick to a routine that accommodates adequate sleeping hours. Furthermore, the CEO said he strives to avoid working on weekends.
This commitment to self-care extends beyond just personal habits. It’s a principle he applies to the entire team at bitsCruch.
He also says they try to delegate or distribute the work much like the decentralization aspects of blockchain technology. Micromanaging is not a part of their ethos, he adds. Instead, the team is encouraged to take up responsibilities and deliver their best work with complete control and freedom.
Despite the demanding nature of his role, Vijay Pravin has always strived for productivity within the standard 8-hour workday. Inspired by the German work culture, known for its efficiency, he acknowledges that occasionally, the workday may extend beyond the norm.
From Cricket to Community Engagement
Vijay, currently residing in Germany, makes the most of the short-lived summer by passionately engaging in cricket. As a member of the Cricket Club Bayern (CCB) in Munich, he actively participates in divisional cricket, showcasing his dedication to the sport.
Beyond the cricket season, Vijay maintains an active lifestyle by frequenting the gym 2-3 times a week, emphasizing the importance of balance rather than mere physical appearance.
A staunch advocate for a healthy routine, Vijay prioritizes an impeccable work – life balance. Therefore, he tries as much as he can to balance between family and his entrepreneurial life.
Apart from his professional commitments, Vijay invests time in fostering community bonds among individuals sharing a common cultural background, acknowledging the significance of creating connections for those living away from home. An avid public speaker, he has graced prominent stages, including TEDx and major crypto conferences, where he channels his passion for inspiring others through impactful talks.
In his leisure moments, Vijay indulges in hobbies such as cricket, stamping, and coin collecting. His love for stamps and coins has evolved into a charming habit cultivated during his travels, collecting mementos from different countries.
Vijay’s approach to life is encapsulated in his belief “capitalizing on the stars,” which he says draws parallels from cricket’s wisdom of taking things one ball at a time.
Virat Kohli is one of Vijay’s biggest inspirations in the world of Cricket, his batting style is characterized by a simple yet strategic approach. Despite his impressive record of scoring 50 centuries, Kohli doesn’t rush to hit centuries in a few balls. Instead, when Kohli comes to the crease, he takes the time to settle down and carefully assess the situation.
Rather than going for big shots immediately, he plays each ball on its merit. This involves playing the ball here and there, taking singles, and running hard between the wickets. By doing so, he gradually builds momentum and control over his innings.
Reflections: Vijay Pravin Maharajan’s Advice to Aspiring Web3 Professionals
In an environment buzzing with constant activity, Vijay emphasises the importance of keeping a steady course.
The crypto and blockchain landscape is known for its volatility, and amidst the noise, it’s crucial to stay grounded. Drawing from recent industry examples, he points out how a single day could turn a billion-dollar company into nothing, as we’ve seen with several Web3 companies. Hence, the emphasis on building stronger foundations for Web3 ventures.
For young Web3 professionals, my advice would be to focus on the fundamentals
Vijay Pravin, Founder and CEO of bitsCrunch
Reflecting on his own journey, Vijays says he wishes he embarked on the entrepreneurial journey much earlier. A sentiment shared by many who, upon joining the entrepreneurial bandwagon, often wish they had started sooner.
When asked about the future, particularly regarding bitsCrunch and his personal life, Vijay painted a vivid picture of his vision for the company. Observing the top companies in the Web 2.0 realm, it’s evident that database companies dominate the landscape. As such, the CEO foresees a similar trend in the blockchain space, in which bitsCrunch will take a key position across the decentralized data industry by 2030.
Vijay stated he anticipates taking a well-deserved break after achieving significant milestones, reflecting on lessons learned, and possibly exploring new ventures, particularly with bitsCrunch.
As the interview neared its end, he emphasized that he refrains from making concrete promises at this juncture. He highlighted the primary focus would remain on building bitsCrunch into a truly decentralized data layer.
In the broader context, Vijay’s perspective resonates with the ethos of aiming high, tirelessly pursuing objectives, and allowing the outcomes to materialize organically.
As it transcends the upwardly mobile Web3 landscape, bitsCrunch emerges as a frontrunner in the decentralized data sphere, aspiring to carve its mark among the top platforms by 2030.
On a personal level, Vijay evokes that it’s a journey marked by continuous growth and adaptability, punctuated by moments of reflection and the potential for new horizons. No promises, just a steadfast commitment to excellence in the present, confident that the future will reveal its own unique path.
