The development of AI relies on the feeding of data; data is like oil, computing power is like roads, and AI is like cars. Nowadays, public data is gradually becoming scarce and increasingly insufficient for the consumption of AI model training. Meanwhile, vast private data is becoming the focal point of the market!
In the AI era, data sovereignty is crucial. #Vana (@withvana) is disrupting the traditional data ecosystem. Unlike platforms like Meta and Google that profit from selling user data, #Vana allows users to monetize their own data and become partial owners of the AI models that rely on their data for training. This innovative model not only redefines how AI companies acquire data but also empowers users with control and rights to profit from their own data.
The current AI development's reliance on data brings about pain points:
The rapid growth of artificial intelligence models depends on massive amounts of high-quality data for training. However, the available data in the public domain is rapidly diminishing, leading to a data bottleneck for AI models. This scarcity forces AI companies to pay exorbitant fees to purchase private data or attempt to 'steal' it directly from users.
As the importance of data increases, users are gradually awakening:
• The value of data: Users own all the data they create and can benefit from it.
• The scarcity of data: Only 100 million users' data is sufficient to support the long-term operation of AI models.
Vana, as the first user-owned data network in Web3, provides users with a new choice to control the value of their data. The core mechanism of Vana:
Vana introduces an innovative concept: Data DAO (Decentralized Autonomous Organization), also known as Data Liquidity Pool (DLP), to manage and allocate the data contributed by users:
Data Contribution: Users contribute data to specific DAOs (e.g., Reddit Data DAO), and the DAO verifies the data quality and integrates it.
Token Rewards: Users receive token rewards that represent their rights within the DAO. These tokens can be traded or staked, providing economic incentives for users.
AI Usage and Revenue: AI companies and researchers access data by offering ownership or revenue sharing of AI models. Users are rewarded based on their data's contribution to improving model performance, becoming stakeholders in the model.
For example, when you contribute Reddit data to the Reddit DAO, you not only receive token rewards but also continue to benefit when AI models trained on this data are used.
In addition to data sovereignty, data privacy and security are also crucial in the AI era. #Vana has made significant efforts to protect user privacy:
• Data is stored in a non-custodial, privacy-protecting manner, ensuring users have complete control over their data.
• A robust verification mechanism filters out low-quality or false data, ensuring the training quality of AI models.
• Utilizing ZK and TEE technologies to use private data for AI training.
Through these measures, #Vana maximizes the value circulation of data while protecting privacy.
Vana - The rapid rise of the Data DAO ecosystem:
Since its launch, Vana has facilitated the creation of 63 data DAOs. For example, the Reddit Data DAO attracted 140,000 users to contribute Reddit data within just one week of going live.
• Data DAOs have expanded into multiple fields, including X (formerly Twitter), LinkedIn, Instagram, Tinder, and browser history.
• The aggregation of cross-platform data enables developers to train AI models on more comprehensive datasets, breaking the traditional platforms' data monopoly.
Vana Investment Institutions: #Vana has raised a total of $25 million, with investment institutions including top firms like Paradigm, Coinbase Ventures, and Polychain.
Vana Team: The Vana project originated from the Massachusetts Institute of Technology, and its team members consist of professionals with deep and specialized knowledge in blockchain technology, privacy, and artificial intelligence.
Anna Kaz is the co-founder and CEO of Vana, previously an engineer at Celo. She graduated from MIT.
Stephen Boske is the legal head of Vana, having served as the Deputy General Counsel and Product Counsel at Coinbase. He graduated from New York University School of Law and the University of Texas at Austin.
Vana Token Economics:
Token Name: $VANA
Total Token Supply: 120 million
Token Distribution:
Community: 44%
Ecosystem: 22.9%
Core Contributors: 18.8%
Investors: 14.3%
From the token distribution and unlocking data, the project has a large scale, with 44% allocated to the community, indicating a strong emphasis on community building. Historically, projects that value community tend to succeed. The team and investors hold a total of 33.1% of the tokens, which will be locked for one year before unlocking, and the unlocking will take 4-5 years, making it a rare VC token that does not exploit users. Early selling pressure should not be too high, and if the valuation upon launch is reasonable, it could be a good buy!
$VANA Token Value Capture:
🔒 Staking participation in DLP
🗳️ Governance voting rights
💸 Network transaction fees
🎁 Rewards for network contributors (the first 16 data DAOs distribute $VANA tokens monthly based on user contribution metrics)
🔑 Paid data access
Vana's Future Potential:
Vana's core goal is to support the training and optimization of the next generation of AI models through large-scale high-quality data contributions:
Empowering Developers: Vana provides developers with open data APIs to support personalized AI application development.
Expanding User Base: By offering reward mechanisms and privacy protection, Vana aims to attract tens of millions of users to contribute data.
Promoting Community-led AI: Building community-owned AI models based on user data, disrupting the traditional AI landscape dominated by tech giants.
Summary:
Vana empowers individuals with control and rights to profit from their data through a user-led data network while providing high-quality data support for AI models. This not only redefines the way data value is distributed but also signals a community-led future for AI. With the continuous development of the ecosystem, Vana is expected to become an important force driving the revolution in AI and the data economy, which is worth looking forward to! 🧐
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