Big Data Protocol Forms Strategic Partnership with Ocean Protocol to Build a Web3 Data Marketplace by Forking Ocean Market
Big Data Protocol has entered into a strategic partnership with Ocean Protocol to advance the shared mission of building a Web3 Data Economy via decentralized data marketplaces. BDP’s focus is commercially valuable data, with an existing network of 14,141 professional data providers.
BDP will launch the BDP Data Market, powered by Ocean Protocol.
This data marketplace will extend Ocean Market code (a fork), and connect to Ocean Protocol’s underlying smart contracts. In doing so, BDP leverages the technology behind a high quality, battle-tested Web3 data marketplace out of the box and gains a network of DeFi integrations. This unlocks the following capabilities:
- Publishing data: BDP’s network of 14,141 professional data providers can launch data offerings and publish their data on BDP Data Market.
- BDP Data Market armed with full Ocean Market functionality: datatokens released on BDP Data Market will be published, traded, and consumed on the BDP platform, and trading against the BDP token.
- Value creation: fees generated from publishing, swapping, staking, and consuming datatokens on BDP Data Market go to publishers, BDP holders, and a percentage to the Ocean community.
- BDP and Ocean synergy: cross-listing of BDP datatokens on Ocean Market (and listing of Ocean datatokens on BDP Data market), as well as sourcing, referral, and onboarding of data providers to both BDP and Ocean.
- BDP datatokens get out-of-the-box access to Ocean’s current integrations and future improvements, including DeFi integrations (e.g. with lending and stablecoin protocols), third-party data ratings, datatoken derivatives platforms, and migration to Layer 2 on Ethereum, as well as cross-chain capabilities.
“I have loved playing with Ocean Market ever since I found out about it. I have spent hours and hours doing everything there is to do on Ocean Market, including publishing, staking, trading, and consuming datatokens. It’s a fun and immersive experience. We’re proud to work with Trent, Bruce, and the whole Ocean team to make the BDP Data Market something that’s rewarding for our users and drives value to both the BDP and Ocean communities.”
Peter Chen, Co-Founder, Big Data Protocol
“Ocean Protocol helps to unlock the value of data. Big Data Protocol’s massive network of professional data providers will benefit from our tech offerings while contributing greatly to Ocean’s ecosystem and, as a result, the greater Web3 Data Economy. This is an exciting opportunity for all players in the space, as we continue on this path of positioning data as an asset class. We’re excited to work with the Big Data Protocol team and see how this partnership further develops.”
Trent McConaghy, Co-Founder, Ocean Protocol
The Ocean and BDP teams have worked closely together in the past. The BDP team has served as data providers on Ocean Market. The BDP and Ocean teams will deepen their collaboration by having BDP team members join Ocean’s Slack channels and team calls and contributing to the future development of Ocean.
Finally, we are proud to announce that the Ocean community can earn BDP tokens by staking OCEAN. This benefits and draws in Ocean’s strong group of holders and supporters.
The steps on how to earn BDP tokens are outlined in this article.
About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. Projects use Ocean libraries and OCEAN in their own own apps to help drive the Web3 Data Economy.
The OCEAN token is used to stake on data, to govern Ocean Protocol’s community funding, and to buy & sell data. Its supply is disbursed over time to drive near-term growth and long-term sustainability. OCEAN is designed to increase with a rise in usage volume.
Ocean Protocol Links
About Big Data Protocol
Big Data Protocol is a DeFi protocol powering a Web3 data marketplace. The Protocol tokenizes commercially valuable data through a network of 14,141 professional data providers and makes the data token liquid on Uniswap. Users earn data by providing liquidity to data tokens.
The Protocol has a vast existing ecosystem of professional data providers by leveraging Amass Insights, founded in 2015 by our co-founder, Jordan Hauer. Amass Insights connects 14,141 professional data providers with over 10,000 consumers of data, who are primarily investment managers.
Big Data Protocol Links