- MADANA has received an extra 120,000 Euros in funding from Pioneer’s Vault.
- Previously raised 200,000 Euros form Pioneer’s Vault.
- The only completely approved pre-sales in Germany which encouraged the increased investment.
MADANA has received an investment of 120,000 Euros as of the 1st of October 2018 form Pioneer’s Vault. This is in addition to the 200,000 Euro investment they raised from Pioneer’s Vault earlier this year.
This new investment serves as a vote of confidence hot off the heels of the successful launch of their pre-sale. They have also reached a number of sales milestones in the last few months.
All these investments are going towards MADANA’s plans to create an app on the Lisk platform.
Details of the Project
MADANA’s ecosystem uses the PAX token which users can use to buy data analysis results from its information pool. Along with this, data producers on the platform are also rewarded.
MADANA, which stands for Market for Data Analysis, is dedicated to helping its users participate in the data market. However, they are also determined to protect user data within the market, a cause that is important to many internet users.
MADANA’s business model seems to have resonated with users and investors alike, along with the achievements they have acquired in the short time.
First, the boast of having the only completely approved pre-sales in Germany and also by publishing an intricately detailed 59-page white paper.
All these, along with their team of 15 contributors, inspired Pioneer’s Vault to continue to invest in them.
As Max Kordek said in a Medium post,
“All these achievements in such a short period of time convinced me to keep supporting this future sidechain project with a follow-up investment. That sums up the total investment by The Pioneer’s Vault to 320,000€.”
While the increased corporate support is a good sign, the true test of MADANA’s longevity and success will be in the support it sees from its users. Most internet users, due to the recent data scandals plaguing companies like Facebook, are cautious about their data.
However, MADANA’s selling point is that they allow the users to be in control of where their data goes and who has access to them. On top of this, they are also rewarded which is a huge incentive.