DataDance raises millions with Hash Global’s backing to shake up the world of decentralized data.
DataDance, a layer-2 blockchain network focused on revolutionizing consumer data asset services, has secured a multi-million-dollar seed funding round led by blockchain giant Hash Global. This funding marks a significant step forward for DataDance, positioning it as a key player in the rapidly evolving decentralized data asset ecosystem and highlighting the growing demand for innovative solutions in blockchain-based data management.
https://twitter.com/DataDanceChain/status/1873592389375582445
DataDance is dedicated to creating blockchain-powered tools for managing, analyzing, trading, and collecting data. By integrating Web2 resources with advanced AI capabilities, the platform aims to provide businesses and individual users with secure and efficient ways to manage their data assets.
With its DataDance Key Derivation Protocol, the platform ensures multi-layered privacy and supports EVM-compatible smart contracts, giving users full control over their data while enabling asset claims, rights management, and secure data exchanges.
Geoffrey Tong, CEO of DataDance, highlighted the platform’s ability to decentralize data transactions, addressing the challenges posed by the monopolization of data by large internet companies. He pointed out how this centralization has led to unsustainably high traffic costs worldwide. DataDance seeks to change this dynamic by proposing a model that blends decentralized and centralized approaches, driving innovation and reducing inefficiencies in Web3 business processes.
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The investment from Hash Global provides DataDance with the resources needed to accelerate its mission of decentralizing data transactions and integrating blockchain technology into everyday consumer interactions.
Hash Global, with over $200 million in assets under management and investments in more than 70 projects globally, is well-known for its commitment to Web3 innovation. The firm’s subsidiary, HG Labs, has incubated several cutting-edge Web3 technologies, demonstrating its support for early-stage projects that bridge Web2 and Web3 ecosystems.
The partnership between DataDance and Hash Global signifies a shared vision of transforming data management and usage through blockchain technology. With combined resources and expertise, both companies are poised to lead the way in decentralized data ownership and interaction, making this funding round a pivotal moment for both DataDance and the broader Web3 ecosystem.
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