OKX Ventures, the investment division of the well-known crypto exchange and Web3 technology company OKX, has recently revealed its primary investment in Codatta. Codatta is an innovative decentralized data protocol that aims to establish crucial data infrastructure for developers and various protocols within the Web3 realm.
Exciting news from @codatta_io, the pioneering decentralized data protocol focused on creating foundational data infrastructure for developers and protocols. https://t.co/dLxRj5sWHU pic.twitter.com/4gFyr9dDJL — OKX Ventures (@OKX_Ventures) June 12, 2024
Codatta is revolutionizing data quality within the Web3 environment, allowing users to monetize their data and contributions while upholding data privacy. By amassing a diverse group of data contributors, Codatta ensures data quality through AI verification and peer-to-peer cross-referencing, providing reliable collateral for the data.
This protocol empowers developers to create Web3-native applications with ML models, enabling innovation in various sectors such as anti-fraud networks, on-chain advertising, decentralized application recommendation systems, and credit-based lending products.
Dora Yue, the founder of OKX Ventures, expressed her enthusiasm for leading the seed investment in Codatta. She highlighted Codatta’s groundbreaking application of AI technology in blockchain metadata collaboration, supporting advanced transactional and trend analysis. The protocol’s scalability allows for a wide range of data support, paving the way for an array of Web3 native apps.
Since its Beta version launch in April 2024, Codatta has garnered significant user interest, with millions of address annotations and half a billion tagged addresses already on the platform. The integration of economic incentives, AI verification, and human oversight ensures the delivery of high-quality information to developers seeking essential data.
As the go-to platform for developers working on Web3 projects, Codatta has become a trusted source of data. The recent investment led by OKX Ventures underscores the belief that Codatta could serve as a foundational layer of the Web3 ecosystem, enhancing data quality and privacy for developers in the blockchain space.
OKX Ventures’ investment in Codatta marks a significant step towards bridging reliable data sources with the evolving Web3 landscape, providing developers and users with more options for data access and utilization.
Tags: OKX