Business News Report
January 23, 2024

Masa Network Raises $5.4M in Funding to Launch Personal ZK Data Network

Masa Network Raised $5.4M to Launch Personal Data Network

Decentralized data market developer Masa Network raised $5.4 million in a seed funding round led by Anagram, Inception Capital (formerly OP Crypto), Unshackled Ventures and PEER VC with participation from Avalanche Blizzard Fund, Digital Currency Group, GoldenTree among others.

The newly raised capital will be utilized for the launch of Masa’s subnet on Avalanche this year. The project team plans to design the customizable blockchain to efficiently manage high volumes of zero-knowledge encrypted data.

The new funding brings Masa’s total capital raised to approximately $9 million, contributing to its $3.5 million pre-seed round in 2022.

Masa plans to establish a data platform where users can contribute personal data and be rewarded with Masa’s native token. Developers will utilize this data for training artificial intelligence (AI) models and developing applications while ensuring user privacy through advanced encryption technologies, including zero-knowledge proofs.

Since its launch in August 2022, the platform has connected over 1 million wallets, licensed over 15 million data points, and engaged over 23,000 testnet node operators.

Masa’s ZK System for Data Control

Masa employs a zero-knowledge soulbound token (zkSBT) system, serving as a secure digital tool to manage and control individual personal data. This technology encrypts and stores users’ digital footprints and social graphs, ensuring the privacy of their online activities, including involvement in web3 communities and the use of decentralized applications. 

The project team asserts that, in the past year, over 890,000 user wallets have granted permission for more than 8 million data events on Masa. With the introduction of its zk-data marketplace, users gain the ability to access and share their information through staking in return for compensation.

According to Masa co-founder Calanthia Mei, deploying on a dedicated Avalanche subnet provides a robust architecture for their zk-data network and marketplace.

“With AI fueling surging demand, Masa arrives at the perfect time. Masa lets you control and monetize your data on a decentralized marketplace. Own your data, control its use, get paid. The future is data sovereignty. The power is yours with Masa,” said Masa Network’s Calanthia Mei.

Masa believes that the prevalent practice of big technology companies hoarding personal data without user consent or compensation is worsened by the growing demand for such data in training AI models and agents.

With the new investment, Masa is set to launch Masa Network, ushering in a transformative era in decentralized data markets and advancing the vision of user-controlled personal data.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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