0xScope Raises $3M Seed Round to Build a New Web3 Data Layer

The Web3 landscape, while brimming with potential, is often characterized by fragmented and scattered data. Navigating this complex ecosystem and extracting meaningful insights can be a daunting task. Enter 0xScope, a pioneering protocol aiming to solve this very problem. 0xScope is revolutionizing how we interact with Web3 data by constructing a comprehensive and standardized knowledge graph, bridging the gap between Web2 and Web3 information. This innovative approach empowers users to access enhanced due diligence, powerful address clustering tools, real-time transaction monitoring, instant event alerts, and robust financial risk control – all within a single, unified platform. To further fuel its mission, 0xScope has successfully raised a $3M seed round, a testament to the growing demand for its game-changing data solution. This funding will be instrumental in accelerating the development and expansion of 0xScope's Web3 AI data layer, paving the way for a more transparent, efficient, and insightful decentralized future. The investment highlights the crucial need for organized, accessible data in the burgeoning world of Web3, setting the stage for 0xScope to become a cornerstone of the digital economy.

Cointelegraph 0xScope raises $3M seed round to build a new Web3 data layer News Knowledge graph protocol 0xScope completes $3 million seed round, led by ABCDE, Hash Global, etc.

Understanding the 0xScope Vision: A Web3 Data Revolution

0xScope's core mission is to transform the current state of Web3 data into a well-organized and easily accessible knowledge graph. This involves creating a standardized protocol that combines data from both Web2 and Web3 sources, offering a holistic view of the digital landscape. Think of it as a sophisticated search engine for the decentralized world, providing context and connections that are often hidden in the noise. The company's vision is to create an ecosystem where developers and businesses can build decentralized projects on top of the 0xScope Protocol, unlocking the full potential of Web3. This decentralized data layer will not only empower developers but also provide crucial infrastructure for a more informed and transparent Web3 environment.

It tracks every crypto fundraising round from pre-seed to Series C. The platform provides access to historical data, profiles of the investment institutions and early-stage startups.

What Problem Does 0xScope Solve?

The current Web3 data landscape faces several key challenges:

The company's software allows translating web-three scattered data into a well-organized knowledge graph, enabling users to access enhanced due diligence, powerful address clustering tools, transaction monitoring, live event alerts, and financial risk control.

• Data Fragmentation: Information is scattered across numerous blockchains, protocols, and platforms, making it difficult to gather a comprehensive view.
• Lack of Standardization: Different platforms use different data formats and structures, hindering interoperability and analysis.
• Complexity: Accessing and understanding Web3 data requires specialized knowledge and tools, creating a barrier to entry for many users.
• Limited Context: Raw data often lacks context and relationships, making it difficult to extract meaningful insights.

0xScope addresses these challenges by providing:

• Data Aggregation: It consolidates data from multiple sources into a single, unified platform.
• Standardization: It uses a common data model and structure, ensuring interoperability and ease of use.
• Simplified Access: It provides user-friendly tools and APIs for accessing and analyzing data.
• Contextualization: It creates a knowledge graph that connects data points and provides valuable context.

The $3M Seed Round: Fueling Growth and Innovation

The successful completion of the $3M seed round marks a significant milestone for 0xScope. This funding will be strategically deployed to accelerate product development, expand the team, and broaden market reach. The round was led by ABCDE, a prominent accelerator and venture capital fund founded by Huobi co-founder Du Jun and BMAN, and co-led by Hash Global and Liang Xinjun. This strong investor support underscores the confidence in 0xScope's vision and its potential to revolutionize the Web3 data landscape. Further backing came from Bonfire Union, Mask Network fund, and Bodl Ventures, solidifying the company's position within the Web3 ecosystem. This diverse group of investors brings a wealth of experience and resources to the table, further empowering 0xScope to achieve its ambitious goals. The funding will be critical to building out the functionalities promised by 0xScope V2, which focuses on a Web3 AI Data Layer. The initial $5 million pre-Series A funding also supports the company's AI vision.

Where Will the Funding Be Allocated?

The $3M seed round will be primarily used to:

• Enhance Data Infrastructure: Expanding the data collection, cleaning, and management capabilities of the platform.
• Develop the Web3 AI Data Layer: Creating a comprehensive set of standards for Web3 AI development.
• Train the Web3-Centric LLM: Building a large language model specifically tailored for understanding and interpreting Web3 data.
• Team Expansion: Hiring top talent to accelerate product development and market adoption.
• Community Building: Engaging with the Web3 community and fostering collaborations.

0xScope's Web3 Data Layer: Features and Benefits

0xScope's innovative data layer offers a wide range of features and benefits for various stakeholders in the Web3 ecosystem. These include enhanced due diligence, powerful address clustering tools, real-time transaction monitoring, live event alerts, and financial risk control. These features are all powered by the underlying knowledge graph, which provides a contextualized and interconnected view of Web3 data. By leveraging 0xScope, users can gain a deeper understanding of on-chain activity, identify emerging trends, and make more informed decisions. The company's software empowers users by translating scattered Web3 data into actionable intelligence, a crucial capability in the fast-paced and ever-evolving world of decentralized finance (DeFi) and beyond.

Key Features of the 0xScope Data Layer

1. Enhanced Due Diligence: Evaluate the risk profile of wallets and entities by analyzing their on-chain activity and connections.
2. Powerful Address Clustering: Group related addresses together based on their transaction patterns and relationships.
3. Real-Time Transaction Monitoring: Track transactions in real-time and receive alerts for suspicious or unusual activity.
4. Live Event Alerts: Be notified of important events, such as token launches, NFT drops, and protocol upgrades.
5. Financial Risk Control: Identify and mitigate financial risks by analyzing on-chain data and market trends.

Benefits for Different Users

• Researchers: Gain access to comprehensive and standardized data for conducting in-depth research on Web3 trends and behaviors.
• Traders: Identify profitable trading opportunities by analyzing on-chain data and market signals.
• Investors: Make informed investment decisions by evaluating the risk profile of projects and entities.
• Developers: Build innovative decentralized applications on top of the 0xScope Protocol.
• Enterprises: Leverage Web3 data to improve their business operations and gain a competitive edge.

How 0xScope's Knowledge Graph Works

At the heart of 0xScope lies its powerful knowledge graph, a data structure that represents entities and their relationships in a network-like format. This graph is built by collecting and processing data from various Web2 and Web3 sources, including blockchain transactions, social media activity, news articles, and company databases. The data is then standardized and enriched with contextual information, creating a comprehensive and interconnected view of the digital landscape. This knowledge graph enables users to perform complex queries, analyze relationships, and extract valuable insights that would be impossible to obtain from raw data alone. The system creates ""powerful entities"" by leveraging its data collection, cleaning, and management, and allows for decentralized projects to be built upon the new data layer.

Building the Knowledge Graph

The process of building the 0xScope knowledge graph involves several key steps:

1. Data Collection: Gathering data from a wide range of sources, including blockchains, APIs, and web scraping.
2. Data Cleaning: Removing errors and inconsistencies from the data.
3. Data Standardization: Converting data into a common format and structure.
4. Entity Extraction: Identifying and extracting key entities, such as wallets, tokens, and projects.
5. Relationship Extraction: Identifying and extracting relationships between entities, such as transactions, ownership, and affiliations.
6. Graph Construction: Building the knowledge graph by connecting entities and relationships.
7. Enrichment: Adding contextual information to entities and relationships, such as descriptions, metadata, and risk scores.

0xScope vs. Competitors: What Makes It Unique?

While several companies are working on Web3 data solutions, 0xScope distinguishes itself through its focus on building a comprehensive and standardized knowledge graph that bridges the gap between Web2 and Web3 data. This unique approach provides users with a holistic view of the digital landscape, enabling them to gain deeper insights and make more informed decisions. Unlike many competitors that focus solely on on-chain data, 0xScope integrates off-chain information, such as social media activity and news articles, to provide a more complete picture. Furthermore, the company's commitment to building a decentralized data layer empowers developers to build innovative applications on top of the 0xScope Protocol, creating a vibrant and collaborative ecosystem. While there are competitors like Port3 Network that focus on social data portals, 0xScope tackles the broader data layer with its knowledge graph protocol.

Key Differentiators

• Web2 and Web3 Integration: Combines data from both Web2 and Web3 sources for a holistic view.
• Knowledge Graph Focus: Builds a comprehensive and interconnected network of entities and relationships.
• Decentralized Data Layer: Empowers developers to build innovative applications.
• AI-Powered Insights: Leverages AI and machine learning to extract valuable insights from the data.

The Future of Web3 Data: 0xScope's Role

0xScope is poised to play a pivotal role in shaping the future of Web3 data. As the Web3 ecosystem continues to grow and evolve, the need for comprehensive, standardized, and accessible data will become increasingly critical. 0xScope's innovative knowledge graph protocol provides a foundation for building a more transparent, efficient, and insightful decentralized future. By empowering users with the tools and information they need to navigate the complex Web3 landscape, 0xScope is contributing to the growth and adoption of decentralized technologies. The future of Web3 relies heavily on the availability of readily accessible, organized, and actionable data. 0xScope is working towards this future.

What's Next for 0xScope?

Looking ahead, 0xScope has ambitious plans for continued growth and innovation:

• Expanding Data Coverage: Integrating more data sources and expanding the coverage of the knowledge graph.
• Developing New Features: Adding new features and tools to enhance the user experience and provide even deeper insights.
• Fostering Community Growth: Building a vibrant community of developers and users around the 0xScope Protocol.
• Exploring New Applications: Exploring new applications of the 0xScope technology in areas such as DeFi, NFTs, and DAOs.

Conclusion: 0xScope Leads the Charge in Web3 Data

0xScope's successful $3M seed round is a clear indication of the growing importance of a reliable and comprehensive Web3 data layer. By building a unique knowledge graph protocol, 0xScope is addressing a critical need in the decentralized world. This investment will fuel further innovation and expansion, cementing 0xScope’s position as a leader in the Web3 data space. The company's commitment to integrating Web2 and Web3 data, coupled with its focus on building a decentralized data layer, sets it apart from competitors and positions it for long-term success. As Web3 continues to evolve, 0xScope is well-prepared to guide users through the complex landscape with its innovative data solutions. The key takeaways are the significance of standardized data, the power of knowledge graphs, and 0xScope's unique approach to unifying Web2 and Web3 data. Ready to explore the power of a connected Web3 world? Learn more about 0xScope and how it can revolutionize your understanding of decentralized data today! Consider following their developments and supporting this important project.