Blockchain
OKX Ventures leads seed round in decentralized data protocol Codatta
OKX Ventures, the investment arm of major cryptocurrency exchange OKX, has done so announced according to OKX Ventures, its lead investment in Codatta, the first decentralized data protocol designed to build foundational data infrastructure for developers and protocols.
Codatta overview
Codatta aims to create a robust data infrastructure with integrated mechanisms that generate levels of scientific confidence. The protocol allows Web3 users to monetize their data and efforts in developing publicly accessible data without compromising privacy. Codatta has built a substantial network of data contributors who improve data confidence through AI-verified proofs, multi-sided cross-referencing and staking-as-confidence mechanisms.
Developers can leverage Codatta to build native Web3 applications based on machine learning models. Potential applications include crime-resistant networks, on-chain advertising, dApp-agnostic recommendation systems, and credit-based lending products.
Statements from OKX Ventures
Dora Yue, founder of OKX Ventures, expressed excitement about the investment: “We are excited to lead the seed investment in Codatta. They pioneer AI technology in blockchain metadata collaboration, enabling complex transactional analytics, trend analysis, and DeFi project research. By capturing annotation data while protecting on-chain address privacy, Codatta sets new standards. The protocol’s extensibility enables an ever-growing scope of data, unlocking an expanding list of native Web3 applications.
Since its beta launch in April 2024, Codatta has attracted millions of address annotations from users, complementing its existing 500 million tagged addresses. OKX Ventures believes Codatta has the potential to become a go-to platform for developers seeking essential data.
About OKX Ventures
OKX Ventures is the investment arm of OKX, the second largest cryptocurrency exchange by trading volume. With an initial capital commitment of $100 million, it is focused on exploring innovative blockchain projects globally. The company supports cutting-edge blockchain technology innovation and promotes the healthy development of the global blockchain industry by investing in long-term structural value.
Through its commitment to supporting entrepreneurs contributing to the blockchain industry, OKX Ventures aims to build innovative companies and bring global resources and historical experience to blockchain projects.
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