Singapore, Wednesday, 27 January 2021 — Ocean Protocol reveals the winning projects for its annual global data economy challenge. The community-driven development challenge boasted four top prize winners along with ten winners of sponsored and special bonus prizes.
The hackathon challenged participants to build a creative solution leveraging Ocean datatokens, access tokens for a dataset or data service, and a significant component of Ocean’s latest v3 release candidate.
We were thrilled to see such strong community interest and engagement in Ocean’s second Data Economy Challenge.
“At the end of the day, the hackathon was all about unleashing data and building cool new apps using Ocean with the main aim being increasing the usefulness of Ocean and growing Ocean’s data ecosystem, submissions that played into this did best,” Sheridan Johns, Head of Ecosystem at Ocean Protocol.
Challenge participants competed for USD 67,000 in prizes, including 88,000 Ocean tokens and respective sponsor tokens.
The challenge was sponsored in part by Ocean ecosystem collaborators, including 1inch Exchange, Balancer Labs, CoinMarketCap, DAOStack, Energy Web Foundation, Messari, Pillar, Protocol Labs (Filecoin), Secret Network, and Streamr. Sponsors offered bonus prizes for the best projects which integrated their tech solutions with Ocean’s datatokens.
#Data Economy Challenge 2021 Winners
First-place winner Data DAO allows for the pooling of many datatokens into one, creating a more fair and inclusive ecosystem with built-in value distribution, governance, and incentive mechanisms. The fully permissionless data marketplace, built by a France-based team, is an easy-to-use and sustainable project that effectively showcases how DAOs can be built on Ocean Protocol to allow for the creation of valuable datasets and services.
VideoWiki, the second-place winner, is an open content edition platform that powers the creation and monetization of content while prioritizing IP protection. Based in Portugal, the team recognized the need for simple text-to-video content creation to benefit the rise of online learning and enable a more immersive learning experience. The project demonstrates that Web 3.0 integration into Web 2.0 products can be simple and intuitive. VideoWiki is also the recipient of the Community Choice Award.
Third-place winner MoonJelly is a web browser extension for easy curation and minting to the Ocean Market - the live application of Ocean’s v3 release featuring datatokens and Initial Data Offerings. The US-based team also integrated their solution with 1inch exchange, successfully earning that bonus prize.
Complete information of all Data Economy Challenge prize winners, partners and the full list of judges can be found here.
The winners were decided based on four key criteria - innovativeness, functionality, traction, and sustainability - by a jury of 16 experts in blockchain, DeFi, machine learning, emerging technology, and business innovation, including Common Stack Advisor Simon de la Rouviere, CoinShares CSO Meltem Demirors, and Balancer CEO and Founder Fernando Martinelli.
The competition ran for eight weeks, with submissions opening up on November 16th, 2020, and closing on January 10, 2021. Judging finished on January 18, 2021.
#About Ocean Protocol
Ocean Protocol is an on-ramp for data services into crypto ecosystems, using datatokens. Each datatoken is a fungible ERC20 token to access a given data service. Ocean smart contracts, Ocean libraries, and Ocean-powered front-ends make it easy to publish data services (deploy and mint datatokens) and consume data services (spend datatokens). Therefore Ocean provides decentralized access control.
Ocean contracts run on Ethereum mainnet. Ethereum composability enables crypto wallets as data wallets, crypto exchanges as data marketplaces, data DAOs as data co-ops, and more. Ocean Market is like a DEX tuned for data. It’s an open-source community marketplace for data that uses Ocean datatokens. Users can publish data, buy/sell data, consume data, and stake on data (curate). Each datatoken can have automatic price discovery via its automated market maker (AMM) pool.
Ocean’s Compute-to-Data feature gives compute access to privately-held data, which never leaves the data owner’s premises. With it, Ocean Market enables the monetization of private data while preserving privacy.
The Ocean Protocol Foundation has allocated 20 million Ocean tokens for funding initiatives, including the Data Economy Challenge.