Author: Nancy, PANews
Recently, the data DAO project Reddit Data DAO (r/datadao), which was "named" by the official Base, has quickly gained popularity. The innovative concept of combining DAO with AI, mining the value of Reddit data, and the background of financing are the main focus of market discussion while the token has surged.
On April 3, the data DAO startup company Vana announced the launch of the decentralized autonomous organization r/datadao designed specifically for Reddit users, making it the first data DAO on the platform. It aims to reward users for contributing their Reddit data and allows them to vote on how to collectively use this data, such as renting it to AI companies for model training.
"Reddit has earned over $200 million in revenue by selling user data, and is expected to earn $60 million annually from an AI training data authorization agreement with Google. But why did this $200 million go directly into Reddit's pocket instead of to the actual users who created the data?" stated the r/datadao official website.
In response, r/datadao provides an alternative to the negotiation between Reddit and AI companies for the sale of user data, allowing users to vote on using the data to launch their own version of Reddit, selling the data directly to AI companies, or using collective power to have Reddit pay users directly. After users connect their Reddit accounts and personal data to r/datadao, the platform will reward them for uploading their personal data and Reddit activity, with more contributions resulting in greater rewards.
$RDAT is the token used by r/datadao to incentivize users, with a current total supply of 20 million, but the official has not disclosed the specific token economic model, and it is not yet known whether there will be additional issuance in the future. According to on-chain data, since its launch on April 5, $RDAT has surged by over 43.3 times at its peak. With such a huge increase, many users have also purchased high-activity Reddit accounts, leading to a surge in users and causing r/datadao to crash temporarily. Currently, the first phase of r/datadao's airdrop has ended, and new account registrations have been suspended.
The financing background of Vana, the issuing platform behind r/datadao, is also an important reason for market attention. Established in 2021, Vana is a decentralized network for users to own data sets and models, with its core function being to maintain the privacy, security, and portability of data. So far, Vana has accumulated 1.1 million users and trained over 700,000 artificial intelligence models. According to Vana, the platform received $18 million in investment from Paradigm, Polychain, BoxGroup, and Abstract Ventures in 2022, bringing its total financing to over $20 million, although Vana had not previously disclosed this information.
In this regard, r/datadao has successfully gained attention by launching the narrative of reclaiming data ownership and implementing airdrop strategies.
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