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Navigate (NVG8) Raises $7M To Build Crypto-Based Data Monetization Ecosystem »CryptoNinjas - India Blogger

Navigate (NVG8), a community platform powering a data ownership ecosystem, has announced its project launch and the close of a $7.625 million seed round. The round was led by Distributed Global, with additional investments from Alan Howard, Kraken Ventures, Jez Mohydin, Outlier Ventures and others.

The seed round comes with the appointment of Spark Cognition founder and CEO Amir Hussain and Digital Currency Group Investment Director Rumi Morales as founding members of the Navigate Board of Directors.

Built on the Polygon Network, Navigate aims to be the ultimate destination for contributing, sourcing and monetizing data. The blockchain ecosystem will democratize high-value, tokenized information, known as next generation data (NGD) – data that is rich in insights but is currently under-utilised.

“Every day, each of us generates enormous amounts of data about ourselves and our surroundings, and until now, we have no way of monetizing it. Navigate this long-standing question. How we can contribute to this digital data in a meaningful way. The Navigate platform provides a way to sell the data we generate to the application builders of tomorrow, while rewarding all contributors and while preserving the confidentiality and sovereignty of the data provided by those users.”
–Rumi Morales, Board Director of Navigate

Navigate has two distinct layers: Navigate Marketplace and Navigate DApp.

  • navigate the market This includes Vaults for crowdsourcing large, high-quality data sets, and peer-to-peer exchanges for users to mint and trade next-generation data.
  • Navigate the DApp Provides developers with APIs to build decentralized applications and powers these products by leveraging market-listed data assets.

1st DApp

Navigate Maps, a high-resolution, low-altitude (HRLA) map of major cities will be the platform’s first app.

Addressing the shortcomings in today’s traditional satellite-based map offerings, Navigate Maps will be a high-quality, community-owned map application that is continuously updated using data uploaded by users.

Navigate Maps will provide value to end-users, while showing developers and organizations the potential to build on the Navigate platform, leveraging data uploaded by the Navigate community.

token (nvg8)

NVG8, the platform’s native ERC20 token, allows participation in the Navigate ecosystem. This token will be used to encourage participation in the platform, including the contribution of data and the creation of dApps.

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