A little-known altcoin has defied the crypto-market slump this week and soared in value amid new investment.
Vana is an open-source network that allows users to access their own data.
This project will allow users to tokenize and share data in order to develop next-generation applications that are AI-focused.
VANA is the native currency of this project. It was launched in December, and it currently trades at $8.88. Market cap-wise, the 228th-ranked cryptocurrency asset is up more than 37% over the last week and nearly 3% the day before.
VANA’s gains largely manifested after YZi Labs (formerly Binance Labs) announced a fresh investment into the layer-1 Project. Vana also added Binance’s founder Changpeng Zhao as an adviser.
Explains YZi Labs,
This is YZi Labs first AI investment after its rebranding. It reinforces its focus on innovative innovations that go beyond Web3, such as AI and Biotechnology. CZ has joined Vana’s team as a advisor. The team will be able to achieve its goal of accelerating the next wave of AI innovations.
Personal data is expected to generate 329 million Terabytes per day by 2025, valuing the personal data industry at $1 trillion. The vast majority is seized by corporations, not the people who created the data. Vana changes this paradigm with a data sovereignty layer which allows individuals to choose who can use their data, and how they want it monetized .”
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