Decentralized AI data protocol Vana: Total funding of 25 million US dollars, backed by Coinbase and Paradigm.

With rich experience in interacting with the test network, there is no commitment to airdrop incentives for the test network.

Author: Nan Zhi, Odaily Planet Daily

Today, after the decentralized AI data protocol Vana announced a $5 million financing led by Coinbase, its Telegram game Data Hero was widely promoted on the X platform, with the community promoting it as the "only AI project invested by Paradigm." What is the actual core business of Vana? Can interaction for airdrops be conducted currently? Odaily will interpret in this article.

Project Background

Project Business Interpretation

Vana is a distributed network designed for users' private data. It consists of an EVM-compatible Layer 1 blockchain, through which users own and manage their contributed data and AI models and profit from them through an organization called "Data DAO."

The core component of Vana, called the "data liquidity network," allows users' data to be used in a flexible and modular manner, similar to financial assets. Vana achieves this through two mechanisms:

Proof of Contribution mechanism, which verifies the value of private data while protecting privacy.
Non-custodial data mechanism, ensuring that data is only used for approved operations.

Vana's "data liquidity network" creates a trustless environment where data can be securely tokenized, traded, and used for AI training without compromising user privacy or control.

The main features and operation process of Vana include:

Users aggregate and upload data through Data DAO, and the basic model DAO evaluates the value of each person's data contribution and rewards them with tokens specific to the model.
Contributors can own the AI models they help create.
It has flexible incentive mechanisms, introducing various tokens such as data set-specific tokens and AI model-specific tokens.
The top 16 Data DAOs will receive token incentives.

Vana's business can be summarized as follows: users upload their private data, such as from Facebook, Instagram, and Reddit, to the Vana protocol. Vana ensures that this data remains private and is used for AI training through mechanism design, and users are rewarded based on the content they upload.

Financing Situation

Vana has completed a total of $25 million in financing, including:

$5 million strategic financing completed in September 2024, led by Coinbase, with no other participating companies disclosed.
$18 million financing completed in December 2022, led by Paradigm, with participation from former Paradigm partner Casey Caruso, Polychain Capital, and others. This round of financing was not publicly disclosed until April 2024.
An additional $2 million financing for Vana with undisclosed details.

Project Progress

There are already a number of mature data DAOs in the Vana ecosystem. For example, the Reddit Data DAO currently has 140,000 Reddit users participating and has trained the first user-owned AI model. There is also the Twitter Data DAO Volara created by Bittensor miners, and the LinkedIn Data DAO supported by VCs, among others.

GPT Data DAO Example

Users can choose to submit data to different DAOs. Here, the GPT Data DAO is used as an example. It should be noted that this is currently in the test network stage, and the official statement is that "points obtained on the test network have no value and do not represent future airdrops. Whether to conduct batch interactions is up to the user to determine."

Visit the GPT Data DAO website and enter your wallet address in ChatGPT.

Export your chat records with ChatGPT through Settings - Data Management - Export.

ChatGPT will send your chat records to your registered email. Download and upload them on the upload page.

Other Projects

In addition to the data DAOs, Vana launched the Telegram game Vana Data Hero on July 30th, where the only gameplay is to continuously click on the screen to earn points. After today's announcement of the financing led by Coinbase, the link has been widely circulated on the X platform. The official statement refers to this game as "DataDAO Pre-Mine," but the specific value of participation is not yet clear.

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