What is Codatta (XNY)

Codatta and the XNY Token: Revolutionising Data Monetisation in the AI Era

Introduction

In recent years, blockchain technology has emerged as a transformative force across various industries, redefining the landscape of data management and monetisation. Among the innovative projects leading the charge is Codatta, a decentralised, multi-chain protocol that marries blockchain infrastructure with artificial intelligence (AI). This unique fusion enables a collaborative ecosystem wherein participants can tokenize their data and earn perpetual royalties, establishing a new paradigm of economic participation in the digital age. Central to this ecosystem is the native token, XNY, which plays a pivotal role in governance, incentives, and access to valuable data.

This article will provide a comprehensive exploration of Codatta, delving into its origins, objectives, technological innovations, investment backing, and the timeline of key events that have shaped its journey thus far.

What is Codatta?

Codatta is designed to address the limitations of traditional data systems that often struggle with transparency, inefficiency, and fragmented access. By developing a permissionless marketplace, Codatta facilitates the tokenisation of individual knowledge, transforming it into digital assets that participants can monetise. The vision behind Codatta is not just to create a database, but to build a high-value data ecosystem, enable seamless collaboration between human contributors and AI agents, and ensure that contributors are fairly compensated.

Goals of the Project

Codatta aims to revolutionise the way data is shared and monetised, specifically targeting high-value datasets necessary for AI development. By empowering individuals to retain ownership of their knowledge while providing ongoing rewards for its use, Codatta endeavours to establish a fair and sustainable economy for data. In doing so, it addresses critical qualitative issues surrounding data accuracy and the ethical considerations of data ownership.

Who is the Creator of Codatta?

Codatta was co-founded by a trio of experienced professionals in the fields of blockchain and artificial intelligence. The leadership team includes:

• Yi Zhang (CEO): Drawing from a wealth of experience in AI and blockchain at various tech companies, Yi is committed to realising Codatta's vision of knowledge assetisation.
• Paul Pang (CTO): Aside from overseeing technological developments, Paul is the architect behind Codatta’s data verification infrastructure, equipped to handle large-scale data processing efficiently.
• Kevin Wang (CPO): Kevin focuses on integrating human-AI collaboration workflows, ensuring that the platform meets both user and market needs.

Together, this team propels Codatta forward in its mission to revolutionise data ownership and monetisation.

Who are the Investors of Codatta?

Codatta's funding journey underscores its viability as an innovative project within the blockchain ecosystem. In June 2024, the protocol successfully raised $2.5 million in a seed funding round. This investment was led by OKX Ventures, with a consortium of reputable participants, including Mask Network, GoPlus Security, Comma3 Ventures, zCloak Network, and several others. This backing not only validates the project's potential to drive significant advancements in AI and data sharing but also highlights the confidence from key players in the crypto space.

How Does Codatta Work?

Codatta operates using a sophisticated architecture that integrates blockchain technology with AI-driven processes to facilitate the effective sharing and monetisation of data. Some of the innovative features that set Codatta apart include:

1. Decentralised Verification Framework

Codatta deploys a multi-tiered verification system that assigns reputation scores to contributors based on their data's historical accuracy and quality, allowing for increased trust and reliability in its marketplace.

2. Hybrid Storage Model

The platform employs an innovative hybrid storage approach, using on-chain proofs for verification while storing off-chain raw data in encrypted formats. This ensures transparency while maintaining privacy, a critical factor in today’s data economy.

3. AI-Driven Curation Protocol

Leveraging advanced machine learning algorithms, Codatta autonomously evaluates data quality, identifies trends, and connects contributors with relevant AI developers. This intelligent matching process streamlines collaboration and enhances the overall value of shared data.

4. Royalty Sharing Mechanism

At the core of Codatta’s innovative model is its royalty-sharing mechanism. Contributors are consistently rewarded whenever their datasets are accessed or utilised. This ability to generate ongoing royalties fosters a more equitable relationship between data creators and AI developers.

5. Cross-Chain Interoperability

Codatta distinguishes itself through its cross-chain functionality, spanning multiple blockchain networks to ensure a wider reach and broader functionality. By doing so, it allows for efficient data transactions and collaboration across diverse platforms.

6. Token Utility ($XNY)

The XNY token is designed to serve several strategic functions within the Codatta ecosystem:

• Governance: XNY holders participate in decision-making processes determining protocol upgrades, community funding initiatives, and partnerships.
• Incentives: Contributors earn XNY for participating and validating data quality, ensuring an engaged user base.
• Access Control: XNY serves as the medium of exchange for accessing premium datasets and analytics.

By integrating these functionalities, Codatta not only provides robust market mechanics but also enhances user participation and commitment to the platform.

Timeline of Codatta

To understand the progression of Codatta, it is crucial to outline its significant milestones:

• 2023: Codatta officially founded by Yi Zhang, Paul Pang, and Kevin Wang, laying the groundwork for a new approach to data-sharing and monetisation.
• June 2024: Successfully closed a $2.5 million seed funding round, marking an important financial achievement and establishing the project's credibility in the blockchain space.
• October 2024: Launch of the Codatta Points system, aimed at incentivising community engagement and contributions to the growing data marketplace.
• June 2025: Initiated the Token Generation Event (TGE) and the Booster Campaign, providing early participants with opportunities to acquire XNY tokens while fostering user interest.
• July 2025: Codatta's listing on several prominent exchanges, such as KuCoin and MEXC, alongside a global airdrop campaign, expanding its user base.

Conclusion

Codatta's innovative approach to the challenges of data monetisation and AI development is revolutionising the way we view and handle knowledge. By providing a decentralised framework that empowers users, the platform creates new avenues for collaboration and profit generation in the burgeoning AI landscape. Furthermore, the use of blockchain technology fosters transparency, security, and equitable reward distribution.

As the demand for quality data continues to grow in an increasingly digital world, Codatta is poised to play a critical role in reshaping the data economy—enabling individuals to own, control, and monetise their knowledge like never before. With the backing of experienced founders and significant investments, Codatta stands at the forefront of a movement towards a more inclusive, ethical, and transparent data ecosystem.