In a significant development for the world of decentralized information exchange, Freatic, a project dedicated to creating a decentralized market for information, has successfully secured $3.6 million in funding. This funding round was spearheaded by the prominent venture capital firm Andreessen Horowitz (a16z), known for its deep involvement in the cryptocurrency space.
Freatic’s primary objective is to establish a decentralized ecosystem where individuals can connect with valuable information and knowledge, facilitating efficient information exchange. This includes connecting those with insights, such as potentially profitable real estate transactions, with individuals capable of translating that information into actionable steps.
https://x.com/freaticteam/status/1704524743485886945?s=20
Originating from the team behind the website HotNewCrypto, which offers insights into lesser-known cryptocurrency projects, Freatic has transitioned into experimental projects dedicated to decentralized information exchange. These include the Alpha Factory on the Polygon blockchain, focused on curating crypto insights, and the Arbitrum-based Capture the Alpha experiment, which introduces a competitive on-chain reputation system.
Ali Yahya, a general partner at a16z crypto, expressed enthusiasm for Freatic’s vision, highlighting the project’s innovative use of cryptography and game theory to enhance information propagation within decentralized networks.
Apart from Andreessen Horowitz, this funding round also saw participation from various notable investors, including Anagram, Archetype, Not3Lau Capital, Robot Ventures, and the data storage protocol Arweave, among others.
