4 New Ocean DAO Projects that Build Upon our Research Findings
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Market research by Dr. Mark Siebert & Scott Milat
The Ocean DAO is just getting started and has already funded a number of different projects. One of which was the research that led to this article.
Our research project looked into which buyers are most likely to purchase data from Ocean markets rather than going anywhere else. Throughout the research we identified 4 future DAO projects that could help build upon our findings.
If you’re looking to join the Ocean DAO and wishing to submit a proposal, this could be a good place to start.
1. Incentives for data buyers — BUILD
One of the core findings in our research was that aggregators and intermediaries are promising initial data buyers for Ocean markets.
Targeting these buyers using the incentive method described below could be a good way to encourage them into Ocean markets, and enable them to begin generating real value.
Ocean needs to attract more data and more data buyers. To solve this chicken and egg problem, you could monitor ‘data token consume volume’ on the blockchain and reward the users who are spending data tokens.
$OCEAN tokens could be airdropped back to these wallet addresses after they have purchased a dataset, incentivising more people to purchase data sets from Ocean markets.
Leveraging our learning about aggregators and intermediaries being important initial buyers, you could target them with this incentive to begin bringing more datasets and transactions into the ocean ecosystem.
With this incentive, the intermediaries could then offer the data to their customers at a reduced rate or pocket the difference once the airdropped $OCEAN tokens are received.
In theory, this could all be automated through a smart contract and the Ocean DAO could provide the $OCEAN tokens for the funding pool.
2. Research: Determine whether or not Ocean Protocol has a unique ability to attract high quality data — RESEARCH
Another key finding in our research was how important it was to provide buyers access to high quality data.
The data buyers we spoke to were aligned philosophically to the idea of purchasing data from a decentralised source. Their reasons for doing so align with those put forward by Ocean Protocol’s founders. But, when push comes to shove it’s clear that buyers are drawn towards higher quality datasets — decentralised or not.
If data buyers are drawn towards good data, then it’s worth understanding why good data would be drawn towards Ocean’s data markets.
Gaining a better understanding of this would help DAO members build the right tools and target the right industries.
3. Removing crypto friction for data markets — BUILD
Our interviews confirmed our hypothesis that very few data buyers have a crypto wallet. Fewer still have a crypto wallet set up for making company purchases.
We believe that enabling data buyers to pay for data in fiat and have crypto transactions processed in the background will be a useful feature for a number of data markets building on Ocean Protocol.
Building this functionality once and building it right will be beneficial for a large number of projects in the Ocean DAO, and potentially a lucrative business model for you.
4. Data markets as a service — BUILD
While a number of potential partners have expressed interest in creating their own data markets with Ocean they are having trouble prioritising this development among their internal teams.
By offering data markets as a service, you could build these prototypes for partners and get them into the Ocean ecosystem a lot sooner.
Doing this would help new data markets emerge and provide a more seamless onboarding experience for new industry partners.
You can start building Ocean markets today.
Further Research Findings
This is one of 5 articles that was published from our research. Links to the remaining articles can be found below.
