OKX Ventures Leads Seed Round in Decentralized Data Protocol Codatta

OKX
Ventures,
the
investment
arm
of
the
prominent
crypto
exchange
OKX,
has

announced
its
leading
investment
in
Codatta,
the
first
decentralized
data
protocol
designed
to
build
foundational
data
infrastructure
for
developers
and
protocols,
according
to
OKX
Ventures.

Overview
of
Codatta

Codatta
aims
to
create
a
robust
data
infrastructure
with
built-in
mechanisms
that
generate
scientific
confidence
levels.
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
enhance
data
confidence
through
AI-verified
evidence,
multi-party
cross-referencing,
and
staking-as-confidence
mechanisms.

Developers
can
leverage
Codatta
to
create
Web3-native
applications
powered
by
machine
learning
models.
Potential
applications
include
criminal-resistant
networks,
on-chain
advertisement,
dApp-agnostic
recommendation
systems,
and
credit-based
lending
products.

Statements
from
OKX
Ventures

Dora
Yue,
Founder
of
OKX
Ventures,
expressed
enthusiasm
about
the
investment:
“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.”

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
that
Codatta
has
the
potential
to
become
a
go-to
platform
for
developers
seeking
essential
data.

About
OKX
Ventures

OKX
Ventures
is
the
investment
division
of
OKX,
the
second-largest
crypto
exchange
by
trading
volume.
With
an
initial
capital
commitment
of
USD
100
million,
it
focuses
on
exploring
innovative
blockchain
projects
globally.
The
firm
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
backing
entrepreneurs
who
contribute
to
the
blockchain
industry,
OKX
Ventures
aims
to
build
innovative
companies
and
bring
global
resources
and
historical
experience
to
blockchain
projects.

Image
source:
Shutterstock

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