At Outlier Ventures, one of our main investment theses centers around the importance of data ownership: placing a fair share of the profits made by data collection back into the hands of its creators. Through our involvement with the data union Swash and the incubation platform Pool Data, we have been fortunate to invest in platforms that are creating fair and mutually-beneficial structures for data buying and selling.
Through our Ascent programme, of which Navigate are recent graduates, we are happy to support a community-led data platform that lets users share data with projects they believe in, rewarding them in the process.
A Collaborative Data Ecosystem
Rumi Morales, former partner at Outlier and Navigate board member, has been considering the issue of next-generation data for some time. With the rise of the Internet of Things and the need for seamless communication between our various devices, vehicles, and more, she sees the blockchain as the natural platform to house this decentralized data system.
Whenever users fly a drone, use their smartwatch, or run a weather monitoring device, for example, they are creating this next-gen data but currently have no ability to monetize it. Navigate aims to connect these data creators with projects that have a need for their data, while also enabling a dApp protocol that allows developers to build novel solutions.
Navigate is structured as a series of data vaults, each with a predetermined data type. Users can upload the data they are already creating into these vaults. When users submit data to a vault, the platform cleans, anonymizes, and encrypts it before sharing it with any projects.
Upon its initial launch, the platform will support drone imagery and street-level footage. As a user’s data is utilized with a project on Navigate, they will be rewarded with the NVG8 ERC20 token for their contribution. The platform allows the data seller to always control which project(s) it is used in and for what, keeping the power in the hands of the creator.
In addition to this marketplace, Navigate gives developers the ability to build dApps with the data on its platform, using these assets to spawn a mass of creative solutions. The platform anticipates a focus around AI and machine learning, as well as environmental solutions through utilizing climate and geo-determined data. In order to seed this dApp collection, Navigate is creating the first solution itself, with the release of Navigate Maps.
As a new vision for how real-time a map application can be, Navigate Maps utilizes user-provided drone footage and other video to create a constantly-updating picture of our world. Currently, users are able to contribute their data to the project, with rewards coming in the NVG8 token. Navigate Maps is being built to the highest quality standard and will be released ASAP.
The Future of Navigate
Through its singular vision, trustworthy and experienced team, and comprehensive approach to next-gen data for Web3, we believe that Navigate is poised to redefine the way that data is monetized and utilized. As customers continue to gain an understanding of the importance and power of their data, they will continue to seek ways to be compensated fairly for it. With Navigate, this monetization allows for contribution to exciting projects that have the capability to improve our world.
With the progression of Web3 to the mainstream coinciding with the next-gen data revolution, we believe that Navigate’s decentralized platform for data sharing and utilization is a natural solution, and look forward to seeing its endless applications continue to develop.
Learn More about Navigate
The Project > https://nvg8.io/
Twitter > https://twitter.com/NVG8Official
About Outlier Ventures
Outlier Ventures has been backing Web 3 founders since 2014 and is the world’s leading Open Metaverse accelerator program, and was one of the first VC firms dedicated to investing in the emerging crypto ecosystem. Their portfolio includes notable projects across DeFi, NFTs and blockchain infrastructure with a focus on emergent Open Metaverse use cases such as NFT-based play-to-earn games, augmented reality and more. Outlier Ventures portfolio can be found.
Both Base Camp and Ascent are constantly looking for founders accelerating the open Metaverse thesis by launching token networks. We provide a proven framework for growth while weaving together a global network of over 1,000 of the world’s leading Web 3 founders, protocols, and VCs to form an ecosystem of mentorship and investment.
This Blog post (the “Post”) has been prepared, published and distributed by Outlier Ventures Operations Ltd (“Outlier Ventures”). Outlier Ventures Operations Ltd is registered in England and Wales, company registration number 10722638. No undertaking, warranty or other assurance is given, and none should be implied, as to, and no reliance should be placed on the accuracy, completeness or fairness of the information or opinions contained in this Post. The information contained in the Post is not subject to completion, alteration and verification nor should it be assumed that the information in the Post will be updated. The information contained in the Post has not been verified by Outlier Ventures or any of its associates or affiliates. The Post should not be considered a recommendation by Outlier Ventures or any of its directors, officers, employees, agents or advisers in connection with any purchase of or subscription for securities or otherwise. Recipients should not construe the contents of this Post as legal, tax, regulatory, financial, investment, trading or accounting advice or services and are urged to consult with their own advisers in relation to such matters. The information contained in the Post has been prepared purely for informational purposes. Any person requesting to contact a company through Outlier Ventures does so at their own risk and is solely responsible for conducting any legal, accounting or due diligence review. The information contained in the Post has not been approved by the Financial Conduct Authority. Any forecasts, opinions, estimates and projections contained in the Post constitute the judgement of Outlier Ventures and are provided for illustrative purposes only. No warranty (express or implied) is or will be made or given in relation to, and (except in the case of willful fraud) no responsibility or liability is or will be accepted by Outlier Ventures or any of its directors, officers, employees, agents or advisers in respect of, such forecasts, opinions, estimates and projections or their achievement or reasonableness. In all cases, persons should conduct their own investigation and analysis of the information in the Post.