Navigate (NVG8) raises $ 7 million to build crypto-based monetization ecosystem »CryptoNinjas

Navigate (NVG8) raises $ 7 million to build crypto-based monetization ecosystem »CryptoNinjas

Navigate (NVG8), a community platform that drives the data ownership ecosystem, announced the launch of the project and the closure of the $ 7.625 million cycle. The circle was led by Distributed Global, with additional investments from Alan Howard, Kraken Ventures, Jez Mohideen, Outlier Ventures and others.

The opening round comes with the appointment of Amir Hussain, founder and CEO of SparkCognition, and Rumi Morales, investment director at Digital Currency Group, as founding members of the Navigate board of directors.

Built on a 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 (NGD) data — data that is rich in insights but currently underused.

“Every day, each of us generates huge amounts of data about ourselves and our environment, and so far we have not had a way to cash in on it. Navigate effectively answers the long-standing question of how we can contribute to this digital data in a meaningful way. The Navigate platform offers a method of selling the data we generate to those who build the applications of tomorrow, while rewarding contributors and preserving the privacy and sovereignty of the data provided by those users. ”
– Rumi Morales, Director of the Navigate Board

Navigate has two different layers: Navigate Marketplace and Navigate dApps.

  • Navigate Marketplace it consists of a vault for the collection of large, high-quality data sets and the mutual exchange of data for users to collect and trade next-generation data.
  • Move dApps provides developers with APIs for building decentralized applications and powering these products using market data.

First dApp

Navigate Maps, the HRLA will be the first application on the platform.

Addressing the shortcomings of today’s traditional satellite map offering, Navigate Maps will be a high-quality community-owned map app that is constantly updated using user-loaded data.

Navigate Maps will provide value to end users, while demonstrating to developers and organizations the potential of building Navigate, using data uploaded by the Navigate community.

Token (NVG8)

NVG8, the original token of the ERC-20 platform, will be used to encourage participation in the platform, including data input and the construction of dApps.

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