Polychain Leads $6.85M Investment in ‘Curate-to-Earn’ Project

KurateDAO is looking to use “cryptoeconomic games to curate the world’s information.”

AccessTimeIconMar 8, 2022 at 2:00 p.m. UTC

Cam Thompson is a news reporter at CoinDesk.

“Play-to-earn,” meet “curate-to-earn.”

KurateDAO announced Tuesday a $6.85 million seed round led by blockchain investment firm Polychain Capital. The project looks to leverage “cryptoeconomic games to curate the world’s information,” according to the KurateDAO white paper.

“Paying people is an inherent part of what we’re doing, so crypto is a natural choice for that,” CEO Michael Fischer told CoinDesk in an interview.

In the current model of internet databases, there is one moderator who decides what information gets to be published to the database. KurateDAO’s technology provides an infrastructure for content curation, with the process being divvied up into three roles: curators, scouts and viewers. Together, the three roles decide what information is added to the database, Fischer said.

Each of the datasets operates as a decentralized autonomous organization (DAO) governed by the KurateDAO’s native token.

Fischer said KurateDAO seeks to work alongside emerging Web 3 applications and other crowdsourced online information hubs, such as music curation and job board sites.

It currently operates on Ethereum but plans to use the $6.85 million funding round to hire developers to build out multi-chain solutions.

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Cam Thompson is a news reporter at CoinDesk.

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Cam Thompson is a news reporter at CoinDesk.