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January 25, 2024

Masa Network Secures $5.4M Seed Funding for Decentralized Data Ownership

Masa Network, the brainchild behind a decentralized data marketplace, has made waves by closing a $5.4 million

In a world where data is hailed as the new frontier, Barcelona-based Masa Network is pioneering a decentralized data marketplace with a mission—to empower individuals to reclaim control over their data. The company recently closed a significant $5.4 million seed funding round, led by Anagram, a venture capital firm with key players from Solana and Polychain. Join us on a journey into Masa's vision of a "Decentralized Google" and its innovative approach to privacy-centric data sharing.

Masa Network positions itself at the forefront of a data revolution, challenging the dominance of tech giants in controlling and exploiting personal information without fair compensation. In a landscape dominated by artificial intelligence, Masa aims to create an open, secure, and incentivized marketplace, where individuals not only own but are rewarded for the use of their data.

Utilizing cutting-edge technologies like zero-knowledge proofs and fully-homomorphic encryption, Masa ensures data privacy while facilitating its utilization. Users can contribute their data to the network and earn rewards in Masa's native token. Developers gain access to this valuable resource for AI model training, analytics, and innovative application development—all while respecting user privacy.

The recent $5.4 million seed funding brings Masa's total capital to an impressive $9.2 million. With a strategic eye on the future, the company plans to launch its mainnet on a dedicated Avalanche Subnet in Q1 2024, alongside the development of its zk-Data Network. Masa's ambition is clear—to build a new era of privacy-preserving data infrastructure.

Since its inception in August 2022, Masa has gained remarkable traction, boasting over 1 million connected wallets and more than 15 million permissioned data points. The startup has also garnered support from leading blockchain projects, including Avalanche, QuickSwap, Injective, and Celo. Co-founder Calanthia Mei highlights the strength of their team, a diverse blend of "tech wizards and market movers" spanning three continents.

Masa Network emerges as a beacon of change in the tech space, advocating for data ownership, diversity, and inclusion. With a commitment to empowering everyone to take control of their digital footprint, Masa envisions a future where data becomes a force for good, breaking free from the confines of the privileged few. While navigating technical and regulatory challenges, Masa's innovative approach signals potential success in the burgeoning decentralized data market. As the company sets sail into uncharted waters, the journey is not just about revolutionizing data but reshaping the digital landscape for the better.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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