Another artificial intelligence (AI) token is out of the blocks, poised to be a crypto game-changer. The Vana Network, the first-ever open protocol for AI data sovereignty, announced the launch of its native token, VANA, on December 16, 2024. Developed by the San Francisco-based research company Open Data Labs, Vana empowers users to collectively own, monetize, and govern their personal data, unlocking a stake in the rapidly growing AI economy.
Open Data Labs CEO and Vana inventor Anna Kazlauskas hailed the project as a “fundamental shift” in data ownership and monetization in the AI space. “Users have always legally owned their data, but platforms have captured all the economic value — and most users don’t even realize their data is legally theirs,” said Kazlauskas. Further, she said,
Vana lays the groundwork for a new kind of data economy – one where users can benefit from the AI models they help create, and where developers can finally access the cross-platform datasets needed to build truly powerful AI…in today’s digital economy, programmable data rights are the foundation for the next generation of AI.
Notably, Vana’s testnet attracted more than 1.3M users, generating 6.5M+ data points to train user-owned AI models. With the mainnet launch, the token allows user to retain full ownership and control over their data. In addition, the project enables secure and decentralized AI model training leveraging privacy-preserving technologies.
USDC Goes Global with Binance-Circle Partnership: ReportWhile Binance listed VANA on its launch date, the token is gaining popularity through Binance Launchpool. As its 62nd project, VANA began trading on Binance Launchpool with trading pairs VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY. As of press time, VANA is trading at $23.27, marking a 3.42% decline over the last 24 hours. The token boasts a market cap of $701.19 million and a 24-hour trading volume of $2.74 billion. While its maximum supply is 120 million VANA, the token’s circulating supply is 30.08 million.
In addition to Binance, exchanges like Bitget are also listing VANA. On December 16, Bitget announced, “We are thrilled to announce that Vana (VANA) will be listed in the Innovation, AI and Web3 Zone.” As per the official notice, Bitget opened trading on December 16 at 11:30 UTC, with the withdrawal open from December 17.
The Vana Network offers key benefits, including data ownership and tokenization. In addition, advanced technologies like Trusted Execution Environments (TEEs) and Zero-Knowledge Proofs (ZKP) ensure the privacy and security of data. The project’s decentralized governance permits users to influence the network’s development through on-chain voting.
