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Brandon Rochon
Data

The Success of The Data Alchemist Boot-Camp

TL;DR:

  • To date, the Data Alchemist Boot-Camp has had over 2000+ applications, 600 alchemists join and 250 complete the program.

  • The 4-week boot-camp teaches alchemists how to create in-depth Reach, Retention, and Revenue (RRR) analysis to answer business questions across multiple chains, protocols, and user types.

  • We're proud to have helped 10s of alchemists land jobs in the Web3 industry. It shows that knowing how to use Covalent's products is an extremely sort after skill.

  • Curating a strong community has been a focus of Covalent's for many years; excited to see such an amazing community form around our product.

A Journey of Dedication and Achievement

Inspired by the original Alchemist Program, season one of the Data Alchemist Boot-Camp had the initial goal of getting 50 applications from people hungry to learn Web3 data analytics. That goal quickly ballooned to 1500 within a week as the excitement from the community was huge. Season one accepted over 250 applications where the nearly found Alchemist's spent 4 weeks learning how to analyze Web3 businesses with our SQL-based analytics tool named Increment. The SQL-based nature of the program made for an extremely technical course that only 125 Alchemist's finished.

Season two of the Data Alchemist Boot-Camp used a new, compelling, no-code feature of Increment name models. Increment models are the only tool on the market that encodes business logic - Reach, Retention, and Revenue - into an SQL compiler that can write valid SQL for you. The tool takes every possible chart creatable with SQL-based tools and bakes them into a standardized, open-sourced set of dimensions and measures - known as a model. Due to the ease of using this product, Alchemist that participated in season two spent a lot more time analyzing than writing code.

In just two seasons, the Data Alchemist community has:

  • 2000 Applications.

  • 600 dedicated Alchemists that are hungry to use Covalent's products.

  • 250 Alchemists that have successful completed one of the seasons.

The rigorous program is not for the faint-hearted; it demanded dedication, commitment, and a thirst for knowledge. We're proud to have helped bridge the gap between Data Alchemists and experienced blockchain professionals, offering opportunities for learning and career advancement in the industry. A considerable number of the Data Alchemists have already gone on to secure analyst positions in the industry, showcasing the real-world impact of our program.

Preparing Analysts For The Wild of Web3

The Data Alchemist Boot-Camp equipped participants with specialized insights into Web3 businesses. We delved deep, teaching how to segment and analyze by chain, protocol, and user types. Key course components included:

  • Blockchain network metrics: Understanding the health and performance of different chains.

  • NFT marketplace comparisons: Evaluating what makes one platform stand out from the rest.

  • Tracking DEX traction: Gauging the popularity and potential of decentralized exchanges.

  • Analyzing risk in lending markets: Navigating the challenges and opportunities of decentralized lending.

Furthermore, our course was enriched with guest lectures from industry experts:

  • Raleon focused on the complexities of user segmentation in the Web3 space.

  • Luke discussed the role of brand and distribution in the success of NFTs.

  • Firestorm from Dexalot provided insights into the future of DEXs and their relation to traditional finance.

  • Robert from 1kx delved into the intricacies of risk in decentralized lending markets.

To watch all the course material, click the link below!

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About Covalent:

Covalent provides the industry-leading Unified API bringing visibility to billions of Web3 data points. Developers and analysts use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from 215 + blockchains. Covalent is trusted by a community of 40,000+ developers and powers data for 5,000+ applications, including 0x, Zerion, Rainbow Wallet, Rotki, Bitski, and many others.

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