Parami Seals $3M To Boost User Privacy on Web 3

Recently, a Web3 advertising protocol — Parami has successfully finished a $3 million funding round which will be used to boost data privacy on blockchains and other Web 3.0 platforms.

Of note, AD 3.0 is a human-centric and privacy-preserving network powered by blockchain, where users are smart-rewarded for attention and data while their self-sovereign identity is protected on a trust-free basis.

Parami Protocol proposed an AD 3.0 paradigm powered by blockchain for Web 3.0. Essentially, it provides a protocol stack for building a user-centric tokenized advertising economy. As a parachain built on Substrate, it serves all the other parachains in Polkadot/Kusama through relaychain.

Several well-established blockchain investors participated in the funding round, including NGC Ventures, CMS Holdings, Genesis Block Ventures (GBV). More so, Digital Finance Group, Genblock Capital, Signum Capital, Axia8 Ventures, Spark Digital Capital, Digital Renaissance, and YBB Foundation participated as well.

A lot of participant’s key people shared their reasons for investing. Jack Lu, Managing Director of NGC Ventures said,

Parami is a crucial player in the Web 3.0 ecosystem. We believe their strong team and groundbreaking tech will bring about a better version of the internet, and we want to support the development of such a powerful project.

In addition, CMS Holdings CEO Dan Matuszewski called Parami’s trust-free protocol ‘a necessary step in boosting global Web 3.0 adoption rates.’

According to Parami, it will use the 3 million USD capital to build privacy protocols, enhance user control over data and identity, and boost acquisition. The Parami team further said, additional funds will be allocated to building the paradigm proposed by Parami Protocol for Web 3.0 ideal (AD 3.0).

Source: https://coinquora.com/parami-seals-3m-to-boost-user-privacy-on-web-3/