Coinbase and Paradigm Invest $25 Million in AI Project Vana, Pre-Mining Event Underway
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AI Project Vana Secures $25 Million in Funding
According to the official announcement, cryptocurrency AI project Vana has announced securing $25 million in funding. The funding comes from three leading institutions in the cryptocurrency space: a $5 million strategic funding round from Coinbase Ventures, an $18 million Series A round from Paradigm, and a $2 million seed round led by Polychain.
Vana is a project aiming to create a user-owned AI platform that tackles the data scarcity issue facing the current AI industry. With the rapid development of AI, data has become a crucial resource for training AI models. However, traditional data sources, such as publicly available internet data, are becoming depleted, leading AI researchers to face a "data wall."
Vana aims to address this challenge through a decentralized approach, allowing users to control and manage their own data. This data will be aggregated through Data DAOs (Decentralized Autonomous Organizations), making it accessible to AI developers. This not only increases data accessibility but also ensures that data contributors are rewarded for their contributions. In the official press release, it states:
"Vana is the first network designed for private, user-owned data. It is powered by an EVM (Ethereum Virtual Machine)-compatible Layer 1 blockchain specifically designed for the collective ownership of private digital assets, and these private data will power the future of AI. The network also natively supports data aggregation through Data DAOs and rewards the top 16 data liquidity pools."
TG Mini Program Pre-Mining Event
Currently, Vana is warming up the project through a mini program on the Telegram messaging platform. Users can earn tokens by playing games through clicks or completing assigned tasks for token rewards.
