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Softbank China Venture Capital (SBCVC) has initiated a $3 million equity seed round in Atlas Protocol, a startup that has been working on the idea that data accumulating on blockchains at present can be used to facilitate a market for internet users in future. Other participants are BV (venture of Chinese internet conglomerate, Baidu), Danhua Capital and Fenbushi Capital.
Project co-founders Duran Liu and Cheng Li are both former employees of Google. It is positioning itself ahead of Google in case the web begins directly interacting with public blockchains. Protocol aims to ensure that the users would be able to control their data and only share information through an opt-in system. It is also aiming for a beta release shortly.
The basic model of Protocol is allowing users to collect data with blockchain and allow marketers to incentivise sharing that information by using a token.
Other companies are also working in the same way. MetaX possesses adChain while Brave has the Basic Attention Token, which will pay for ads that do not know the user.
Atlas Protocol's "SmartDrop system" was used to reward the most active Nebulas users during an incentive program with free tokens. Over 100,000 users received NAS tokens in the process.
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