Vana, a startup from San Francisco, introduces Reddit Data DAO. It’s a system where Reddit users get ownership of their data on the platform.
The DAO, known as r/datadao, rewards users for contributing data on Reddit. It’s in charge of all decisions, like appointing governance activities and renting out the data to AI companies for training models.
Anna Kazlauskas, CEO and Vana’s first data DAO welcomes the public to the revolutionary data management space. Reddit FightBack DAO is the very one that not only pilots user data monetization but also breaks the traditional monetization strategy of Reddit.
Reddit is considering renting out its data to AI companies, potentially earning up to $200 million annually. The proposal by the DAO suggests redirecting this revenue to the users who contributed the data instead.
Users can become attractive by including a Reddit account and their data on the DAO so that they receive a token that is a symbol of their status on the platform. They use proof of stake, which can be claimed in a crypto wallet.
U.S. Senator Chris Murphy (D-Conn.) is calling for legislation to ban prediction markets that allow traders to bet…
The U.S. Internal Revenue Service (IRS) has proposed a new rule that would allow cryptocy brokers to deliver…
Global fintech powerhouse Revolut has filed an application for a U.S. banking license, a move that would allow…
A man accused of stealing tens of millions of dollars in cryptocy from U.S. government…
Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — has taken a strategic…
A new study from the Bitcoin Policy Institute (BPI) found that leading artificial intelligence models overwhelmingly favor Bitcoin…