Golden Data Protocol Raises $40 Million In Series B Round Led By a16z

Data protocol company Golden has raised $40 million in a Series B round led by cryptocurrency a16z. The grant will help the company build a platform that uses Web3’s technologies and mechanisms to centralize data. The product is currently in beta and is expected to launch on mainnet in Q2/2023.

Decentralized data protocol Golden has closed a $40 million funding round led by venture firm Andreessen Horowitz, or a16z, with additional participation from Protocol Labs, OpenSea Ventures and the founders of Solana, Dropbox, Postmates and Twitch, and many other characters. Approximately $60 million in cumulative funding has now been raised.

This grant gives Golden additional resources to continue building its protocol, designed to standardize knowledge discovery and verification in the Web3 era.

The startup has already attracted significant interest and they are currently at the testnet stage with 35,000 individuals participating in the Discord community, a decentralized live application (dApp), APIs and governance soon is active. They are now sending facts, validating information, improving and building the protocol itself.

The protocol uses a Token reward mechanism to incentivize correct data and eliminate incorrect data. The product is currently in beta and is expected to launch on mainnet in Q2/2023.

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