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3.84%Polychain Leads $6.85M Investment in ‘Curate-to-Earn’ Project
KurateDAO is looking to use “cryptoeconomic games to curate the world’s information.”
“Play-to-earn,” meet “curate-to-earn.”
KurateDAO announced Tuesday a $6.85 million seed round led by blockchain investment firm Polychain Capital. The project looks to leverage “cryptoeconomic games to curate the world’s information,” according to the KurateDAO white paper.
STORY CONTINUES BELOW
“Paying people is an inherent part of what we’re doing, so crypto is a natural choice for that,” CEO Michael Fischer told CoinDesk in an interview.
In the current model of internet databases, there is one moderator who decides what information gets to be published to the database. KurateDAO’s technology provides an infrastructure for content curation, with the process being divvied up into three roles: curators, scouts and viewers. Together, the three roles decide what information is added to the database, Fischer said.
Each of the datasets operates as a decentralized autonomous organization (DAO) governed by the KurateDAO’s native token.
Fischer said KurateDAO seeks to work alongside emerging Web 3 applications and other crowdsourced online information hubs, such as music curation and job board sites.
It currently operates on Ethereum but plans to use the $6.85 million funding round to hire developers to build out multi-chain solutions.
Read more: Pantera and Polychain Lead $10M Bet on Metaverse Fashionistas
Cam Thompson
Cam Thompson was a Web3 reporter at CoinDesk. She is a recent graduate of Tufts University, where she majored in Economics and Science & Technology Studies. As a student, she was marketing director of the Tufts Blockchain Club. She currently holds positions in BTC and ETH.
