A quick look at the first data DAO project r/datadao: designed specifically for Reddit users, the parent company has received financing support from Paradigm and other companies

Recently, the data DAO project Reddit Data DAO (r/datadao), which was officially promoted by Base, quickly became popular. While the tokens skyrocketed, the concept of combining innovative DAO with AI, mining the value of Reddit data, and financing background are all It is the main focus of heated discussion in the market.

On April 3, data DAO startup Vana announced the launch of r/datadao, a data decentralized autonomous organization designed specifically for Reddit users. It is also the platform’s first data DAO. , designed to reward users for contributing their Reddit data and allow them to vote on how the data can be used collectively, such as renting it to AI companies for model training.

"Reddit has earned more than $200 million in revenue from selling user data, and the AI ​​training data licensing agreement with Google is expected to earn $60 million per year. But why does $200 million go directly into Reddit's pockets? , rather than the user who actually created the data?" r/datadao official website pointed out.

In this regard, r/datadao provides an alternative to Reddit's negotiation with AI companies to sell user data. It allows users to vote to use data to launch their own version of Reddit and sell the data directly to AI companies. , or use collective power to let Reddit pay users directly. Users only need to connect their Reddit account and personal data to r/datadao, and the platform will provide rewards for users to upload their personal data and Reddit karma. The more they contribute, the more rewards they will receive.

$RDAT is a token used by r/datadao to motivate users. The current total amount is 20 million. However, the official has not announced a specific economic model of the token. It is not yet known whether additional issuance will be issued in the future. According to on-chain market conditions, $RDAT has increased by more than 43.3 times since its launch on April 5. Amid the huge increase, many users also purchased Reddit accounts with high karma. The surge in users once caused r/datadao to go down. Currently, the first phase of r/datadao’s airdrop has ended, and new account registrations have been suspended.

#The financial background of Vana, the publishing platform behind r/datadao, is also an important reason for market attention. Founded in 2021, Vana is a decentralized network for user-owned datasets and models, with a core function of keeping data private, secure and portable. To date, Vana has accumulated 1.1 million users and trained more than 700,000 artificial intelligence models. According to Vana's disclosure, the platform received US$18 million in investment from Paradigm, Polychain, BoxGroup and Abstract Ventures in 2022, bringing its total financing to more than US$20 million, but Vana has not disclosed this news before.

From this point of view, r/datadao successfully fired the first shot of fame through the narrative of regaining data ownership and the airdrop strategy.

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