The seed round brings Masa’s total funding to $9.2 million.
The fresh capital will bitcoin be used to support Masa’s Mainnet Launch on a dedicated Avalanche Subnet.
Masa already boasts over 1 million connected wallets and over 23,000 testnet node operators.
Masa Network has announced a $5.4 million seed round led by Anagram Venture, a Web3 investment company co-founded by Solana Foundation President Lily Liu and former Polychain President Joe Eagan.
The fundraising also attracted participation from Avalanche Blizzard Fund, Digital Currency Group, GoldenTree, OP Crypto, Unshackled Ventures, and PEER VC, amongst others. This seed round brings the total raised by Masa Network to $9.2 million. In May 2022, the company raised $3.5 million in a pre-seed round led by Unshackled Ventures.
Masa is building a zero-knowledge proofs-based data network that allows users to contribute their data to the network and get rewarded in Masa’s native token.
According to the announcement, Masa Network wants to shift power back to individuals with an open, secure, and incentivized economy for the world’s personal data. The platform leverages cutting-edge zero-knowledge technology and fully-homomorphic encryptions.
The network is tailormade for the new age of generative AI, as data becomes a highly valuable commodity.
“For too long, the world’s most valuable user data has been locked away by Big Tech companies and exploited without user consent or fair compensation. As the demand for personal data continues to exponentially grow, users deserve to control their data and get compensated for its use. It’s time for a new data paradigm,” Masa wrote in a press material shared with NFTgators.
The company is building what it calls “decentralised Google” in its bid to shift the power back to individuals.
Developers will be able to access user data to train AI models run analytics, and build innovative applications without infringing on user privacy rights.
Commenting on the announcement, Calanthia Mei, Co-Founder of Masa Network said: “Masa Network realizes the original blockchain dream – a fair data economy where you own and profit from your personal data. With AI fueling surging demand, Masa arrives at the perfect time. Masa lets you control and monetize your data on a decentralized marketplace. No more free lunches – own your data, control its use, get paid. The future is data sovereignty. The power is yours with Masa.”
Launched in August 2022, Masa Network has already connected over 1 million wallets. The platform also boasts more than 15 million permissioned data points and over 23,000 testnet node operators, with Avalanche, QuickSwap, Injective, and Celo among the early adopters of Masa Network.
Joe Eagan, Co-Founder of Anagram commented: “At Anagram, we think data is the most valuable commodity in the world. Masa uniquely enables users to become owners and more tightly aligns the value of the data with the creator of the data, creating a positive sum environment.”
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The post Masa Network Secures $5.4M Seed Round for Zero-Knowledge Data Network appeared first on NFTgators .