Masa Network Secures $5.4 Million in Funding to Launch Its Zero-Knowledge Data Network

A developer in the decentralized data marketplace realm, Masa Network secured $5.4 million through a seed funding round led by Anagram, along with Inception Capital (previously OP Crypto), Unshackled Ventures, and PEER VC. Participation also came from Avalanche Blizzard Fund, Digital Currency Group, GoldenTree, and others.

The funds raised will be directed towards launching Masa's subnet on Avalanche this year. The development team is focused on crafting a customizable blockchain that adeptly manages large amounts of zero-knowledge encrypted data.

With this latest investment, Masa's total funding reaches approximately $9 million, which builds upon a pre-seed round of $3.5 million they completed in 2022.

Masa envisions a data platform where individuals can share their personal data while earning rewards in the form of Masa’s native cryptocurrency. Developers will leverage this information to train AI models and create fresh applications, all while upholding user privacy with cutting-edge encryption methods such as zero-knowledge proofs. artificial intelligence Since its inception in August 2022, the platform has formed connections with over 1 million wallets, licensed upwards of 15 million data points, and involved more than 23,000 testnet node operators.

Employing a soulbound token (zkSBT) mechanism, Masa provides a secure digital solution for users to manage and control their personal data. This innovative approach encrypts and safeguards users’ digital history and social networks, thereby protecting their online interactions, including participation in web3 communities and the utilization of decentralized applications.

Masa’s ZK System for Data Control

Masa employs a zero-knowledge According to the project team, in the last year, approximately 890,000 user wallets have given consent for over 8 million data events within Masa. The upcoming zk-data marketplace will empower users to share their data and receive rewards through staking.

Masa co-founder Calanthia Mei states that utilizing a dedicated Avalanche subnet delivers a robust framework for their zk-data network and marketplace.

"As the demand for AI rises, Masa enters the scene at a crucial moment. Our platform allows you to take charge of your data and earn from it in a decentralized marketplace. You can own your data, control how it is used, and get compensated for it. Data sovereignty is the future, and with Masa, that power is in your hands,\" according to Calanthia Mei from Masa Network.

Masa challenges the conventional practices of major tech firms that hoard user data without consent or compensation, highlighting the intensified need for data in training AI models and applications.

With this fresh round of investment, Masa is preparing to launch the Masa Network, potentially revolutionizing decentralized data markets and advancing the idea of user-controlled personal information.

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