In a seed fundraising round, Masa Network has raised $5.4 million to develop a decentralized network on Avalanche that is centered on user privacy.
The venture capital firm Anagram, which was co-founded by Joe Eagan, a former employee of Polychain, and Lily Liu of the Solana Foundation, led the funding round.
Notable investors including GoldenTree, Digital Currency Group, and Avalanche Blizzard Fund participated in the round as well.
The goal of Masa is to provide a data platform where users may provide personal information and get paid using Masa’s native token. This data will be available to developers so they may use it to train AI models and create user-privacy-preserving services.
Zero-knowledge proofs and other cutting-edge encryption techniques will be used to accomplish this.
The latest seed round rounds up the total money received to approximately $9 million, which comes after Masa’s $3.5 million pre-seed round in 2022.
The club stated that the money will be utilized to introduce Masa’s network on Avalanche this year. The adaptable blockchain will be built to manage large amounts of encrypted data with zero knowledge.