An under-the-radar altcoin defied the wider crypto market slump and surged in price this week amid a new strategic investment.
Vana (VANA) is a layer-1 network for user-owned data.
The project aims to allow users to contribute, tokenize, and share their data to create next-generation artificial intelligence (AI)-focused applications.
The project’s native asset, VANA, launched in December and is trading at $8.88 at time of writing. The 228th-ranked crypto asset by market cap is up nearly 3% in the past day and more than 37% in the past week.
VANA’s gains largely materialized after YZi Labs, formerly known as Binance Labs, announced a new investment in the layer-1 project. Binance founder Changpeng Zhao (CZ) also joined Vana as an advisor.
Explains YZi Labs,
“This marks YZi Labs’ first AI investment since its rebranding, reinforcing its expanded focus on transformative innovations beyond Web3, including AI and biotechnology. With CZ joining Vana as an advisor, the team is well-positioned to accelerate its vision of powering the next generation of AI breakthroughs.
The personal data economy is estimated to be worth $1 trillion, with 329 million terabytes of data expected to be generated daily by 2025. However, the vast majority of this value is captured by a handful of corporations rather than the individuals who create the data. Vana is changing this paradigm by introducing a programmable data sovereignty layer that enables individuals to decide who uses their data and how it is monetized.”
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