OKX Ventures, the investment branch of the well-known cryptocurrency exchange and Web3 technology company OKX, has revealed its primary investment in Codatta. Codatta stands out as an innovative decentralized data protocol tailored to establish crucial data infrastructure for developers and various protocols within the Web3 domain.
Exciting news! We are pleased to announce our major investment in @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 Elevates Data Quality for Web3, Attracts Significant Investment
Codatta empowers its users to monetize their data and contributions within the Web3 realm without compromising data privacy. The platform has amassed a diverse group of data contributors to ensure data quality, incorporating AI-verified proof, peer-to-peer cross-referencing, and credible collateral regarding the data.
Through this protocol, developers can create Web3-native applications using ML models in innovative ways across various sectors. These include resilient networks against cyber threats, on-chain advertising, decentralized application (dApp) recommendation systems, and credit-based lending products.
Dora Yue, the founder of OKX Ventures, expressed her enthusiasm for leading the initial investment in Codatta. She highlighted Codatta’s groundbreaking application of AI technology in blockchain metadata, supporting advanced transactional and trend analysis. This adaptable protocol can accommodate a wide range of data, facilitating the development of an increasing number of Web3-native applications.
OKX Ventures Backs Codatta to Propel Web3 Data Infrastructure
Since its Beta version launch in April 2024, Codatta has gained popularity among users, garnering millions of address annotations. It boasts over half a billion tagged addresses, making it a valuable resource for developers seeking essential information. By integrating economic incentives, AI verification, and human oversight, Codatta ensures top-notch data quality on its platform.
As the preferred platform for developers working on Web3 projects, Codatta offers a reliable source of data. The recent investment led by OKX Ventures underscores the belief that this protocol could serve as a foundational layer within the Web3 ecosystem. Codatta not only enhances data quality but also provides tools for developers to create privacy-enhanced applications in the blockchain space.
Overall, OKX Ventures’ investment in Codatta marks a significant stride towards bridging high-quality data sources with the burgeoning Web3 landscape, offering developers and users a wider range of options.
Tags: OKX