Vana, a startup from San Francisco, introduces Reddit Data DAO. It’s a system where Reddit users get ownership of their data on the platform.
The DAO, known as r/datadao, rewards users for contributing data on Reddit. It’s in charge of all decisions, like appointing governance activities and renting out the data to AI companies for training models.
Anna Kazlauskas, CEO and Vana’s first data DAO welcomes the public to the revolutionary data management space. Reddit FightBack DAO is the very one that not only pilots user data monetization but also breaks the traditional monetization strategy of Reddit.
Reddit is considering renting out its data to AI companies, potentially earning up to $200 million annually. The proposal by the DAO suggests redirecting this revenue to the users who contributed the data instead.
Users can become attractive by including a Reddit account and their data on the DAO so that they receive a token that is a symbol of their status on the platform. They use proof of stake, which can be claimed in a crypto wallet.
Also Read: Reddit’s IPO at $47 Drives Crypto Surge, RDDT Shares Soar
