Data monetization solution, Swash, has successfully raised $12.1MM from its IDO that took place over the weekend. The team previously raised $7MM from an oversubscribed private round, totaling the full amount raised to $19MM.
The much-anticipated IDO saw over 45,000 people register for whitelisting. The IDO started several days later at 00:00:01 on October 29 and closed at 23:59:59 on October 30, and was the final stage of Swash’s fundraising activities ahead of launching the native ecosystem utility and governance token, $SWASH. The IDO, much like the private round that closed at $7MM several weeks ago, was oversubscribed and met with unprecedented interest.
Through novel incentivization streams, creative data monetization techniques, and a collaborative development framework guided by the Web 3 ethos, Swash enables internet users, developers, and businesses to nurture new realities of data ownership and value generation.
Swash expands on what already exists, offering a simple way to earn money while you surf while contributing to a more just society and a better, more equitable internet.
The Swash token builds upon four core principles: incentivize, transact, multiply, and govern. It will be an integral part of the Swash universe, rewarding Data Union members for the aggregated value of their data while providing the opportunity to multiply those rewards through staking, redeeming for products, making donations, and more.
People can share their data to earn while retaining their privacy, businesses are able to access high-quality, zero-party data in a sustainable and compliant way, and developers can easily set up and build systems within a collaborative development framework.
The SWASH token will power all transactions that take place in the Swash universe while fuelling the products and services built to advance adoption. Swash has a live product and active user base with around 90,000 users at the time of writing. The browser application allows people to claim control and monetize their data, setting the tone for a range of other solutions to be built, including a CMI platform for businesses (sIntelligence), an environment for builders (sApps), and computational infrastructure for data scientists (sCompute).
People don’t control their data and don’t receive any of the value it generates; businesses pay for expensive, low-quality data taken without consent, and developers struggle to build due to a shortage of high-quality data.
Swash provides users with a simple, safe, and collaborative ecosystem that rewards all actors of the data economy while maintaining security and transparency.
Swash’s decentralized data ecosystem revolutionizes how the data economy operates by giving users an easy way to earn, develop, and collaborate to create a better, more equitable internet.
Swash Ecosystem Solutions
Data Unions allow people control over their data in exchange for a portion of the income generated. Swash, as the world’s first and largest Data Union, empowers individuals to exercise their data rights while also recognizing their importance as ecosystem value contributors.
Companies may use Swash’s sIntelligence service to get unique, unequaled business intelligence insights via a web-based platform. Intelligence helps them stay informed about their industry and market competition, giving them a competitive advantage.
Swash applications can be built by developers that wish to be a part of the next generation of data solutions (sApps). sApps have a wide range of applications and can take many different shapes, but they always have one thing in common: the ability to pay users for their value.
Data scientists can use sCompute to perform computations on Swash data without having to purchase or move it. The information is kept private and is not sold or transferred. Instead, businesses can use Swash data to run their algorithms and merely pay for the processing and access to the results.
Project Investors and Partners
Big names in the blockchain industry are among the Swash’s investors and partners:
- OUTLIER VENTURES
- BOSON PROTOCOL
- TITANS VENTURES
- TOP 7 ICO
- MINTED LAB
- GAINS ASSOCIATES
- EVERSE CAPITAL
- LVT CAPITAL
- XT LARS
Immediately after the auction was settled and clearing price determined, $SWASH was listed on KuCoin, Gate.io, MEXC, Uniswap, and Honeyswap. $SWASH holders can also put their tokens to work on native and Uniswap v3 LP pools and also in trading competitions hosted by KuCoin and MEXC.
Key stats from the Swash public sale:
Public sale: $12.1MM
Auction initial price: $0.09
Final clearing price: $0.24
Number of unique bidders: 2426
Number of winners: 1429
Tokens sold: 50M $SWASH
24h volume post IDO: $+100M
24h Avg. price post IDO: $0.7
Other upcoming activities for the project include the release of the brand new version of the Swash app complete with a new referral program and Data for Good feature, more media features, events, and research, deep dives into Swash’s First Wave Solutions, and an introduction to the advisors and partners in the Swash network.
Longer term, the Swash ecosystem roadmap is heavily focused on development, partnerships, and market expansion. The technical team has already begun development for the sIntelligence platform – a Competitive and Market Intelligence web-based platform – catapulting Swash into the Surf stage of the roadmap.
Along with sIntelligence development, Surf will also bring:
- Continued user growth for the Swash app
- Integrating the Data for Good feature technically and through partnerships with social impact global organizations
- Expanded browser integrations and web store publications
- Data buyer outreach through aggregator and marketplace integrations
- Develop the Data at Rest and Integrator layers to manage collected data before building the Query and Search capabilities
- Launch the first version of Swash smart contracts to enable equal revenue distribution between Swash members
To learn more about Swash, visit the website, follow the project on Twitter, Telegram, and Reddit, and join the Swash community channel and mailing list. If you want to start earning from the value of your data, the Swash app is available to install on all major browsers today.
Swash is an ecosystem of tools and services that enable people, businesses, and developers to unlock the latent value of data by pooling, securely sharing, and monetizing its value.
People share their data to earn while retaining their privacy. Businesses access high-quality, zero-party data in a sustainable and compliant way. Developers set up and build systems within a collaborative development framework with ease.
Swash is reimagining data ownership by enabling all actors of the data economy to earn, access, build and collaborate in a liquid digital ecosystem for data.
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