KurateDAO Acquires $6.85M

KurateDAO recently announced a new $6.85 million investment round led by investment firm Polychain Capital. The project aims to use "cryptoeconomic games to curate the world's information," according to the KurateDAO white paper.

How does the project position itself?

KurateDAO is a new kind of socially curated database that allows curators to assemble sets of data on which Web3 applications are built, #curate2earn

“Paying people is an integral part of what we do, so crypto is the natural choice for that,” CEO Michael Fisher said in an interview.

In the current Internet database model, there is one moderator who decides what information will be published in the database. KurateDAO technology provides the infrastructure for content curation, with the process divided into three roles: curators, scouts, and viewers. Together, the three roles decide what information is added to the database, Fisher says.

Each of the datasets operates as a Decentralized Autonomous Organization (DAO) governed by its own KurateDAO token. Fischer said KurateDAO is looking to work alongside new Web 3 applications and other crowdsourced online clearinghouses such as music curation and employment advice sites.

It currently runs on Ethereum but plans to use the $6.85 million funding round to hire developers to build multi-chain solutions.

It seems that we are all present at the birth of a new trend, the name of which is curate to earn, #C2E