An under-the-radar altcoin defied the broader crypto market stoop and surged in value this week amid a brand new strategic funding.
Vana (VANA) is a layer-1 community for user-owned knowledge.
The challenge goals to permit customers to contribute, tokenize, and share their knowledge to create next-generation synthetic intelligence (AI)-focused purposes.
The challenge’s native asset, VANA, launched in December and is buying and selling at $8.88 at time of writing. The 228th-ranked crypto asset by market cap is up practically 3% previously day and greater than 37% previously week.
VANA’s features largely materialized after YZi Labs, previously often called Binance Labs, announced a brand new funding within the layer-1 challenge. Binance founder Changpeng Zhao (CZ) additionally joined Vana as an advisor.
Explains YZi Labs,
“This marks YZi Labs’ first AI funding since its rebranding, reinforcing its expanded deal with transformative improvements past Web3, together with AI and biotechnology. With CZ becoming a member of Vana as an advisor, the crew is well-positioned to speed up its imaginative and prescient of powering the following technology of AI breakthroughs.
The private knowledge financial system is estimated to be price $1 trillion, with 329 million terabytes of information anticipated to be generated every day by 2025. Nonetheless, the overwhelming majority of this worth is captured by a handful of firms reasonably than the people who create the information. Vana is altering this paradigm by introducing a programmable knowledge sovereignty layer that allows people to determine who makes use of their knowledge and the way it’s monetized.”
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