Regulation
OKX Ventures in Codatta Seed Round
OKX Ventures, the investment division of prominent Web3 cryptocurrency exchange and technology firm OKX, declared its leadership in seed funding of Codatta, a pioneering decentralized data protocol, on June 12, 2024 .
This venture marks a strategic step towards establishing critical foundational data infrastructure for developers and various protocols.
Codatta: a pioneering decentralized data protocol
Codatta stands out as the first decentralized data protocol designed to provide developers with a basic data infrastructure. It incorporates sophisticated mechanisms that generate levels of scientific confidence.
This protocol aims to allow Web3 users to monetize their data and development efforts by creating publicly accessible databases without sacrificing privacy.
Codatta has built an extensive network of data contributors, improving data reliability through AI-verified evidence, multi-party cross-referencing, and staking-as-trust strategies.
Additionally, it allows developers to develop Web3 native apps using machine learning models in various areas including crime-resistant networks, on-chain advertising, dApp-agnostic recommender systems, and credit-based lending products.
Dora Yue, the founder of OKX Ventures, expressed her excitement to lead Codatta’s seed investment.
She highlighted Codatta’s innovative approach to AI technology in the blockchain metadata collaboration, which facilitates complex transactional analysis, trend analysis and research on DeFi projects. “By capturing annotation data while protecting the privacy of on-chain addresses, Codatta sets new standards,” Yue said.
The protocol’s extensibility facilitates an increasing scope of data, paving the way for a growing list of Web3 native applications. Since its beta launch in April 2024, Codatta has seen substantial growth, with millions of address annotations contributed by users, increasing its existing database of 500 million tagged addresses.
OKX Ventures April Investment Report
OKX Ventures is the investment arm of OKX, the second largest crypto exchange by transaction volume, and a Web3 technology company with an initial capital commitment of $100 million.
Its strategic objective is to identify and support the most promising projects. blockchain projects on a global scale, fostering innovation and contributing to the robust development of the global market blockchain ecosystem.
OKX Ventures plays a particularly decisive role in the evolution of Bitcoin ecosystem and has supported infrastructure projects designed to improve Bitcoin’s functionality and expand its utility.
These investments include Arch Protocol, which integrates decentralized finance (DeFi) in the Bitcoin blockchain and Bitlayer, which aims to improve the scalability and transaction speed of Bitcoin.
OKX Ventures: Driving Innovation in the Crypto Ecosystem
Besides Bitcoin-focused projects, OKX Ventures has a keen interest in broader projects. crypto market initiatives. He supports innovative projects like Monad and Aptos, which are pushing the boundaries of blockchain performance and smart contract technology.
OKX’s portfolio also extends to the gaming sector, with investments in high-quality projects like Matr1x and full-chain gaming Cellula, reflecting its commitment to the growth of the crypto ecosystem.
Additionally, OKX Ventures recently ventured into gaming industry with an investment in the action role-playing game Blade of God X from Void Labs.
This early access game introduces a unique “play to practice” feature, which integrates advanced AI with blockchain technology, allowing players to directly influence the training of AI models through their gameplay.
According to a press release from OKX Ventures, games in this series have accumulated more than six million downloads and Blade of God
Tnise, founder of Void Labs, expressed his gratitude for OKX Venture’s commitment, noting: “This partnership will provide us with the resources and guidance necessary to continue to innovate, expand our horizons and deliver exceptional gaming experiences to players of the whole world. »
OKX Ventures’ consistent strategic investments and focus on infrastructure and application development solidify its position as an important player in the crypto industry, shaping the future landscape of blockchain technology and driving the adoption and evolution of the crypto ecosystem.