• What’s causing the 27 percent increase in Ocean Protocol in the last day?

  • In the last few days, interest for Ocean Protocol, an open-source protocol that intends to allow individuals and corporations to exchange and monetize data, has risen dramatically. Ocean, the company’s token, has risen 27 percent in the last 24 hours and 39 percent in the last seven days. So, what is the primary driving force behind this demand?

    Ocean Protocol’s team has been constantly releasing announcements regarding its future, partnerships, and awards program since February. They revealed some of the year’s ambitious ambitions in their 2022 update, including the release of Ocean V4, which would be ready for public testing in Q1 2022.

    .@oceanprotocol is launching Version4 in the next weeks and it will get really interesting for data management and monetization.

    Data X Defi =💥 💥 💥

    Data IP: managed by NFTs (ERC721)
    Data consumption: managed by datatokens (ERC20)

    This is how Data meets DeFi. $OCEAN 🌊🌊

    — AquaNaut (@AquaNauxt) March 20, 2022

    With V3, they expect to deploy a number of exciting new features, like rug pull resolution, data NFTs, data farming, and the development of the Ocean DAO and ecosystem. The data NFTs will give an IP architecture that integrates ERC20 and ERC721 and might potentially permit numerous revenue streams with separate sub-licenses against the base IP.

    promoting ecological development

    Bruce Pon and AI researcher Trent McConaghy developed Ocean Protocol in 2017. Its platform is designed to enable data interchange, allowing startups and researchers to readily access data sets. It also connects people that require data but lack the means to retain it. The OCEAN token is a multifunctional token that is used to validate the finest data tokens and to enable users to engage in governance as well as buy and sell data.

    Algovera is a global community of people aiming to expedite the development of decentralized AI products and to create a unique ecosystem using Ocean Protocol grants. “I spent 18+ months exploring traditional commercialization finance for an AI startup with no success. I began looking for alternatives and discovered the Ocean Protocol ecosystem. I attended weekly town hall meetings, spoke with builders, and got a flavor of the Web3 community for the first time. Within two months, I had written and been awarded my first grant, allowing me to finally get my initiative off the ground. I walked away from my job and haven’t looked back.” Algovera’s founder, Richard Blyhman, states

    Data is becoming increasingly popular.

    Three major events occurred recently that have contributed greatly to Ocean’s fame. To begin with, they are releasing Version 4 of their protocol, which will accelerate data management into monetizable funnels like never before. The second is that they just announced their premier sponsorship of Binance blockchain week, demonstrating public support for their ecosystem and the projects being developed within it. They recently opened calls for Round 16 of their grants program, with 200,000 OCEAN up for grabs, and just this week they announced their premier sponsorship of Binance blockchain week, demonstrating public support for their ecosystem and the projects being developed within it.

    Additionally, a spike in positive Twitter sentiment for Ocean Protocol was spotted this week by Cryptoslate analytics, confirming the token’s excellent performance.

    When looking at the general trend in this field and analysing it with Cryptoslate data, readers will notice that AI tokens have grown by 10% in the last seven days. According to Cryptoslate statistics, the world of AI and Blockchain is heating up, with a slew of new startups entering the market and raising awareness of various AI use cases in the blockchain realm.

    Blockchains are intended to aid in the tracing and verification of transactions. These transactions have a lot of information in them. Harnessing the power of data will become increasingly important as more of the world’s biggest businesses and companies embrace blockchain into their business models, and assuring the quality of that data will be a fundamental role of the blockchain sector in the future. Ocean protocol has already established a foothold in the data landscape, constantly supporting data-driven efforts that employ blockchain technologies to give value to layers of previously untapped open-source data. They are known for sustaining support for projects that use their ecology, and the OceanDAO has set aside 140 million dollars for funding.

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