Key Points
- Today we are announcing Oamo, a decentralized data broker that puts individuals in control of their data.
- We provide a platform where users can build their decentralized identity, earn from their data, and get personalized offers from companies they love while remaining anonymous.
- We help companies find high quality leads based on off-chain and on-chain data, generate deep insights reports into their behavior, and target them with tailored offers directly via Oamo.
- We have closed our $1.25m pre-seed round led by White Star Capital.
- Our Beta is coming soon and we have just opened up our waitlist so users can get priority access to the first offers to launch on Oamo.
Internet users are being exploited against their will
Today, the data brokerage industry generates over $250 billion dollars annually by accessing, aggregating, and selling user data without their consent or knowledge. Surprisingly, they manage to stay mostly out of the spotlight as most Internet users are not even aware of their existence or practices.
Fortunately, this practice is becoming increasingly illegal and is facing disruption due to data privacy regulations. Though without the ability to acquire data that originates outside of their platform, organizations will be limited in their understanding of their users’ behavior, as well as their ability to reach new ones.
The Data Economy needs a new model that allows individuals to own their data and share it on their terms with stakeholders they trust.
Web3 growth leaders need the right tools for the job
As the Web3 industry ventures into its next wave of adoption, growth leaders are looking for ways to build better products that can reach the right audience. Although the industry has professionalized its growth processes and frameworks, its businesses still struggle to properly understand its users and create meaningful campaigns to attract new ones.
Web3 comes with its own set of challenges for growth leaders as user behavior is split amongst multiple on-chain and off-chain data sources. On-chain data is fragmented across multiple wallet addresses with little to no relationship while there is no seamless way to attribute a user’s off-chain behavior (i.e. Twitter, Discord, Steam) to their wallets’ activity. There are currently no tools to properly understand user behavior across all their major data sources, Google Analytics simply doesn’t cut it in a Web3 world.
Even if growth leaders can understand part of a user journey, their targeting stack remains limited to Web2 native strategies such as Twitter sponsored posts or email marketing. It makes it extremely difficult to reach their target audience and personalize promotions, leading to low conversion rates and low ROI for marketing campaigns.
Introducing Oamo, a decentralized data broker that puts individuals first
Today we are proud to announce that Oamo is emerging from stealth to create a more efficient relationship between consumers and businesses in a Web3 world. Oamo is a decentralized data broker that allows individuals to own and monetize their data while remaining anonymous.
To fuel a new data economy, we help companies find high quality leads based on off-chain and on-chain data, generate deep insights reports into their behavior, and provide them with tailored offers directly via Oamo.
Here are the main components of Oamo’s stack:
- Decentralized identity (DID): Users can create their decentralized identity and connect their wallet addresses and social profiles. All data added to a user’s DID is encrypted and permissioned by the user. Once users connect their data sources, Oamo generates credentials based on their on-chain and off-chain behaviors. These credentials unlock opportunities for users to monetize their data anonymously via data pools.
- Data Pools: Businesses can create data pools to acquire insights on the on-chain and off-chain behavior of their target audience. Users can opt-in to pools for which they have the required credentials and contribute data. Upon opt-in, users earn rewards while their data is aggregated and anonymized with all other pool participants to generate behavioral insights. Rewards vary, ranging from native tokens to stablecoins, and are decided by the data buyer.
- Campaigns: Businesses can send tailored promotions and surveys to data pool participants directly via Oamo’s messaging system. By using on-chain and off-chain criteria, businesses can guarantee that only high-quality leads that fit their target audience receive the offers. This benefits both users and businesses as users receive offers that match their interests, and businesses can target users who are more likely to convert.
We strongly believe that the only way to solve the challenges growth leaders face in Web3 is to empower individuals and to make sure they benefit from the relationship. By allowing users to choose with whom they share their data and how much it is worth, we will open the door for richer data insights and highly successful growth initiatives.
Our progress so far
We have been brewing the concept for Oamo for the past year and embarked full-time on this journey at the end of 2022. Since then, we have rallied amazing investors, a rockstar team, and market-leading customers to our mission.
We are proud to announce that we closed a pre-seed round of $1.25m led by White Star Capital to build our founding team and develop our MVP. White Star Capital is a world-class fund that has been key to our progress so far and will be important partners as we scale.
We are also extremely lucky to have been able to attract incredible talent to join Oamo. Our team of eight is composed of individuals from Figment, Kraken, Polygon, Eventbrite, SSENSE, Gluwa, and Morgan Stanley. We bring a mix of deep B2B and B2C experience in Web3 and the ability to build products and marketplaces adopted by millions of users worldwide.
Finally, we’re excited to announce that Index Coop, Lighthouse World, Ledn and Saddle Finance have joined our launch program, welcoming leading Web3 organizations to our upcoming Beta!
What’s next?
Interested in opportunities to earn amazing rewards and get personalized offers from companies you love? Join our waitlist today to be among the firsts to onboard to Oamo and monetize your data!
If you are an organization interested in joining our launch program to supercharge your growth initiatives, you can contact us here to get a demo and see if the solution is right for you.
