Flash News: OKX Ventures Leads Seed Round Investment in Codatta, the First Decentralized Data Protocol Aiming to Build Foundational Data Infrastructure for Developers and Protocols
SINGAPORE, June 12, 2024 (GLOBE NEWSWIRE) — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, has issued updates for June 12, 2024.
OKX Ventures Leads Seed Round Investment in Codatta, the First Decentralized Data Protocol Aiming to Build Foundational Data Infrastructure for Developers and Protocols
OKX Ventures today announced its leading investment in Codatta, the first decentralized data protocol aiming to build foundational data infrastructure for developers and protocols.
Codatta is the first decentralized data protocol aiming to build foundational data infrastructure for developers and protocols, with built-in mechanisms generating scientific confidence levels. The goal is for Web3 users to monetize their data and efforts in developing publicly accessible data without compromising privacy. It has assembled a sizable network of data contributors to enhance data confidence through AI-verified evidence, multi-party cross-referencing, and staking-as-confidence. Developers can create Web3-native applications powered by machine learning models in areas such as criminal-resistant networks, on-chain advertisement, dApp-agnostic recommendation systems, and credit-based lending products.
OKX Ventures Founder Dora Yue said: “We are thrilled to lead the seed investment in Codatta. They are pioneering AI technology in blockchain metadata collaboration, enabling complex transactional analysis, trend analysis, and DeFi project research. By capturing annotation data while protecting on-chain address privacy, Codatta sets new standards. The protocol’s extensibility allows for an ever-growing scope of data, unlocking an expanding list of Web3-native applications. Combining economic mechanisms, AI verification, and human intelligence, Codatta enhances data quality. Since its Beta launch in April 2024, Codatta has attracted millions of address annotations contributed by users, complementing its existing 500 million tagged addresses. We believe it has the potential to become the go-to platform for developers seeking essential data.”
For further information, please contact:
About OKX Ventures
OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
