Masa secures $5.4 million in seed funding for developing a personal data network on Avalanche

Masa Network Raises $5.4 Million in Seed Funding for Decentralized Data Platform

Masa Network, a decentralized network built on Avalanche, has successfully raised $5.4 million in a seed funding round. The funding will be used to develop a data platform that focuses on users’ personal data and privacy.

Anagram Leads the Investment Round

The investment round was led by Anagram, a venture capital firm co-founded by Lily Liu of the Solana Foundation and Joe Eagan, formerly of Polychain. Other notable investors who participated in the round include Avalanche Blizzard Fund, Digital Currency Group, and GoldenTree.

A Platform for Personal Data Contribution and Compensation

Masa aims to create a platform where users can contribute their personal data and receive compensation in the form of Masa’s native token. Developers will have access to this data to train AI models and build applications while preserving user privacy.

Advanced Encryption Technologies for User Privacy

Masa will utilize advanced encryption technologies, including zero-knowledge proofs, to ensure user privacy and protect sensitive data.

Total Capital Raised Reaches $9 Million

This recent seed funding round follows Masa’s previous pre-seed round in 2022, bringing the total capital raised to approximately $9 million.

Launch of Masa’s Subnet on Avalanche

The funds from the seed funding round will be used for the launch of Masa’s subnet on Avalanche later this year. The customizable blockchain will be designed to handle high volumes of zero-knowledge encrypted data.

Hot Take: Masa Network Secures Funding to Revolutionize Personal Data Ownership

Masa Network’s successful seed funding round signifies a major step towards revolutionizing personal data ownership. By building a decentralized network on Avalanche, Masa aims to empower users by allowing them to contribute their personal data while maintaining their privacy. The use of advanced encryption technologies will ensure that sensitive information remains secure. With the funds raised, Masa plans to launch its subnet on Avalanche, providing developers with access to valuable data for AI training and application development. This innovative approach has the potential to reshape the data landscape and give users more control over their own information.