OKX Ventures, the investment division of the well-known crypto exchange and Web3 technology company OKX, has recently announced their primary investment in Codatta. Codatta is a groundbreaking 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 pioneer in decentralized data protocols 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 the way data is utilized in the Web3 environment, allowing users to monetize their data and contributions while ensuring data privacy. By gathering a diverse group of data contributors, Codatta ensures data quality and introduces AI-verified proof, peer-to-peer cross-referencing, and reliable collateral for data validation.
Developers can leverage Codatta’s protocol to create Web3-native applications using ML models in innovative ways across various sectors such as crime-resistant 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 innovative use of AI technology in blockchain metadata collaboration, supporting advanced transactional and trend analysis. The protocol’s scalability allows for a wide range of data applications, paving the way for new Web3 native apps.
Since its Beta version launch in April 2024, Codatta has gained popularity among users, receiving millions of address annotations and half a billion tagged addresses. This wealth of data makes it a valuable resource for developers seeking essential information. By integrating economic incentives, AI verification, and human oversight, Codatta ensures high-quality data on its platform.
OKX Ventures’ investment in Codatta marks a significant advancement in Web3 data infrastructure. By providing reliable data sources to the growing Web3 community, Codatta offers developers and users a versatile platform for building privacy-enhanced applications within the blockchain space.
Overall, OKX Ventures’ investment in Codatta signals a crucial step towards bridging high-quality data sources with the evolving Web3 landscape, offering developers and users a myriad of possibilities for innovation and growth.
