At first, I thought, ""Is it another coin?"", but after looking into it, I found out that it's a truly innovative project. I've been watching it with interest for several months now, and today, I'm going to share honestly what I've experienced and felt. Especially the huge price increase in December was really shocking!
π€Vana(VANA), what's different about it?
Honestly, when I first heard about Vana, I was skeptical. It's called ""a blockchain project that allows users to control their digital data while using it to train AI models,"" and I wondered if that was really possible.
But when I looked into it, I found that it was a really innovative concept. Until now, large companies like Google and Meta have been training AI and making huge profits with the data we've provided for free (search history, SNS activity, purchase patterns, etc.). Vana is trying to change this unequal structure.
It really makes sense that it provides a decentralized network where users can own, manage, and monetize their data. In fact, when I tested it, I found that I could earn tokens with things like Instagram data or Netflix viewing history.
At first, I was skeptical and uploaded only a small amount of data. But I really got token rewards! Of course, it wasn't a large amount, but it made me realize that I could make money with my data. In particular, it was really amazing to see the process of AI models being trained with the data I provided.
π Vana's amazing growth story
Vana is a project created by Filipino co-founders Art Abal and Anna Kazlauskas. Anna majored in computer science at MIT, and Art is a lawyer who studied innovation and public policy at Harvard. With this background, it makes sense why they were able to come up with such innovative ideas.
What was particularly impressive was the speed of growth. They say they currently have 1.3 million users, and it was surprising that they received this much attention even before the mainnet was properly launched. I've been participating since the beta test, and I've seen features being added and improved at a really fast pace.
It's been getting more attention recently because it received a $5 million strategic investment led by Coinbase. It means a lot when Coinbase invests. They're known for being really picky when it comes to screening and investing.
⚡The explosive growth in December was really amazing
The most shocking thing was last December. I was really surprised when I saw the news that the token had skyrocketed by more than 2,700% after the Binance Launchpool announcement. Of course, it's because the initial price was low, but this level of response means that the market is really expecting a lot.
Currently, VANA is trading at around $6.78
24-hour trading volume: $80M+
On December 16, the mainnet and token were launched simultaneously, and it was listed on Binance as trading pairs such as VANA/USDT, VANA/BNB. I bought it for the first time then, and it was really volatile. I felt the fear of cryptocurrencies once again when I saw it fluctuating more than 50% in a day.
Highest increase rate
2700%+
After Binance listingNumber of users
1.3 million
Before mainnet launchInvestment amount
$5M
Led by CoinbaseCurrently, VANA is trading at around $6.78, with a 24-hour volume of over $80 million. The market cap is also pretty decent. However, it's still volatile, so I think you should be really careful when investing.
π§How does it work technically?
That's what I was most curious about. How can I make money with my data? At first, it was really hard to understand, but once I started using it, the concept became clear.
Vana is an EVM compatible layer 1 blockchain designed to allow users to collect their own data through Data DAO and get rewarded for contributing to building AI models.
π How Vana Works
Step 1: Data Contribution (Instagram, Netflix, etc.)
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Step 2: Data Verification and Integration in Data DAO
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Step 3: Used for AI model training
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Step 4: Token rewards based on contribution
When I actually used it, it was simpler than I thought. In my case, I started with Instagram data, and all I had to do was export the data from the app and upload it to the Vana platform. Then, the token rewards would arrive in my wallet after a few days.
Of course, it's still in the early stages and not perfect, but the direction seems really good. I was particularly impressed by the data privacy protection feature. I can see transparently what data I share and how it is used.
πΌActual usage is more diverse than you think
At first, I thought it was just a data transaction platform, but when I looked into it, it had a wide range of uses. I've organized the things I've personally experienced and the areas I'm looking forward to in the future.
π What's possible now
- Profit generation through Data DAO participation
- Data provision required for AI model development
- Privacy protection of personal data
- Digital asset trading linked to NFT
- Differential compensation according to data quality
π Expected areas in the future
- Personalized AI service
- Linkage with the creator economy
- Utilization of data in the medical and education sectors
- Personalization of financial services
- Optimization of advertising targeting
This will be especially innovative for creators. They can directly generate revenue with their own content or data. For example, YouTubers can earn additional revenue by providing data on their video viewing patterns.
After providing various data for 3 months, I received an average of $50-80 in tokens per month. It's not a large amount, but I'm quite satisfied if I think of it as receiving data from services I usually use. In particular, the higher the quality of the data, the more rewards you get.
πͺWhere can I trade?
I'll summarize the major exchanges where you can currently trade VANA and their respective features. I've also included my experiences using various exchanges.
π Overseas Exchanges
- Binance: Highly recommended! It has a large trading volume and is stable. You can also get VANA for free through the Launchpool event. The spread is also the lowest.
- Huobi: Popular in Asia and offers a variety of trading options. Fees are also competitive.
- KuCoin: Quick to list new tokens and has a good staking service. They say they will soon support VANA staking.
- Coinbase: I heard it will be listed soon. If it is listed on Coinbase, it will be accessible to more US investors.
π°π· Domestic Exchanges
- Upbit, Bithumb, etc.: There is no news of listing on a domestic exchange yet, but based on the interest, it seems like it will be coming soon. In particular, Upbit tends to list innovative projects quickly.
Personally, I recommend trading on Binance. It has good liquidity and frequent Launchpool events. I was able to receive additional VANA through Launchpool.
• Check 24-hour trading volume (the higher the better)
• Compare deposit and withdrawal fees (the difference is surprisingly large)
• Check security level and hacking history
• Quality of customer support service
• Additional services (Staking, Launchpad, etc.)
π₯The community is really active
The Vana community is really impressive. In particular, the developers are really actively communicating with the community. When I asked a question, I got a response within a few hours.
π Main Community Channels
- Discord: Most active, real-time communication
- Twitter/X: Official updates and news
- Telegram: Quick information sharing
- Reddit: In-depth discussions
- Medium: Technical documentation and roadmap
π°π· Korean community
- KakaoTalk open chat room (5000+ people)
- Telegram Korean group