Masa Network Raises $5.4 Million to Develop Decentralized Data Marketplace
San Francisco-based startup Masa Network has secured $5.4 million in seed funding to build a decentralized alternative to Big Tech’s data monopolies. The funding round, led by crypto venture firm Anagram, will support Masa’s vision of a user-owned data marketplace powered by blockchain technology and encryption.
What You Need to Know
- Masa Network raised $5.4 million in seed funding from investors like Anagram, Avalanche Blizzard Fund, Digital Currency Group, and GoldenTree.
- Masa is building a “Decentralized Google” – an open, secure data marketplace where users can contribute personal data and get rewarded.
- The platform leverages zero-knowledge and fully-homomorphic encryption to preserve data privacy.
- Developers can access the data to train AI models, run analytics, and build applications.
- The funding will support Masa’s Q1 mainnet launch on a dedicated Avalanche subnet through a partnership.
Masa Network aims to empower individual data owners by shifting power away from centralized tech giants. The platform allows users to contribute their personal data and receive rewards in Masa’s native token. Developers can then utilize this data for AI training, analytics, and web3 application development while maintaining user privacy.
“Masa lets you control and monetize your data on a decentralized marketplace,” said Masa co-founder Calanthia Mei.
Masa Network Raises $5.4M in Seed Round to Build the “Decentralized Google” for the World’s Personal Data
“Masa Network realizes the original blockchain dream – a fair data economy where you own and profit from your personal data.” – @calanthiaaa
— Masa (@getmasafi) January 23, 2024
Masa’s protocol ensures data privacy through the use of zero-knowledge proofs and fully-homomorphic encryption. This allows for practical applications without compromising user security or consent.
In addition to Anagram, major blockchain funds like Avalanche Blizzard Fund and Digital Currency Group have invested in Masa. The funding will support Masa’s Q1 mainnet launch on a dedicated Avalanche subnet through a new partnership.
Masa Network has already attracted over 1 million wallets since its establishment in 2022. Its innovative approach to decentralized data ownership has gained attention from leading DeFi protocols like QuickSwap and Injective. With further development, Masa could pave the way for users to take control of their data and its usage.
“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,” said Anagram co-founder Joe Eagan.
Investors are betting on Masa’s blueprint for a fairer data economy as AI and machine learning drive increasing demand for personal data. For crypto enthusiasts dissatisfied with Web 2.0’s broken data model, Masa Network offers a glimpse into how blockchain technology can revolutionize data ownership.
Hot Take: Masa Network’s Decentralized Data Marketplace Paves the Way for User Empowerment
Masa Network’s successful seed funding round of $5.4 million marks a significant step towards building a decentralized data marketplace that challenges the dominance of Big Tech companies. By allowing users to contribute their personal data and profit from it, Masa Network aims to shift power from centralized tech giants to individual data owners. With its innovative use of blockchain technology and encryption, Masa ensures data privacy while enabling developers to access this valuable resource for AI training and application development. The funding will support the platform’s upcoming mainnet launch, further cementing its role in creating a fairer data economy. Masa Network represents a promising glimpse into the future of data ownership and user empowerment in the digital age.
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