Vana Launches Reddit Data DAO Enabling Users to Control and Monetize Their Data

Vana Launches Reddit Data DAO Enabling Users to Control and Monetize Their Data

Vana, a decentralized network that hosts user-owned datasets and models, has recently announced the launch of the Reddit Data DAO on its platform.

The primary objective of the DAO is to encourage Reddit users to contribute their comment history to a pooled dataset, which can later be sold to AI companies after a community vote.

This initiative is being carried out independently, without any coordination with Reddit, and holds significant importance for the community, given Reddit's own attempts to sell user data.

Vana's mission is to liberate user data from major platforms that aim to hoard and monetize it, allowing individuals to reclaim control over their personal information.

The network has already attracted one million users who are actively creating personal data models, and its open API is drawing in a growing ecosystem of developers building AI applications.

In addition to the Reddit Data DAO launch, Vana also revealed that it had raised $18 million in a funding round during 2022, which was not previously disclosed.

Vana is part of a growing group of projects that seek to innovate at the intersection of artificial intelligence and web3, with the goal of democratizing AI development through decentralization.

The project aims to achieve this by using on-chain permissions to ensure users' data remains private, secure, and portable.

Data is tokenized and stored on either a personal device or trusted node, and can be used to train AI models or applications, with Vana providing decentralized computing power for distributed training.

Users who contribute data to a specific dataset on the platform are rewarded with ERC-20 "dataset-specific tokens," which allow them to vote on how the dataset is used.

Vana also offers "model-specific tokens" as incentives for users who contribute GPU computation or data to AI models generated by the platform.

The Vana network enables everyday people to reclaim their personal data, store it securely, and use it safely and freely, while also allowing developers to create applications using personalized AI for each user and scale their projects with decentralized computing power.

By applying the self-sovereign technology powering bitcoin and ethereum to personal data, Vana aims to put power back in the hands of the individual, creating a world where users own their data and the value it creates.

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