Open Data Exchange announced an important milestone: a commitment of more than 60 MM USD from its private token sale.
ODX, or Open Data Exchange, is an online data marketplace on blockchain.
Open Data Exchange is a project of ODX Pte. Ltd company based in Singapore.
Its core mission is to provide free internet access to emerging markets.
ODX wins strong backing in private ICO
This week, Open Data Exchange announced a commitment of more than 60 MM USD in private token sale.
Notable backers of the project include Pantera Capital who also backed Circle, Brave, Zcash, Civic or ShapeShift among others and BlockTower Capital who previously backed FunFair.
Individual investors worth mentioning are personalities such as the entrepreneur Brock Pierce, Akamai co-founder Randy Kaplan or composer Alexander Shulgin.
After the latest round of private token sale, ODX is on its way to becoming the largest initial coin offering in Southeast Asia. Singapore-based TenX currently owns the record for the biggest ICO having raised 80 MM USD in June 2018.
ODX is set to raise 100 MM USD.
The Strategy of ODX
ODX Pte. Ltd. is a subsidiary of Xurpas, Inc., the largest consumer tech company in the Philippines founded in 2001.
Open Data Exchange plans to leverage the already existing infrastructure of Xurpas and thereby gain an important advantage of a ready access to emerging markets around the world.
About The Platform
According to research cited by ODX, the average internet user in Southeast Asia, South America, and Africa pays for internet access for less than ten days a month. “This is especially significant when you consider the fact that over 80% of the world’s Internet population live in emerging markets,” says the ODX chairman and co-founder Nix Nolledo. Mobile data is their primary means of internet access but it is prohibitively expensive.
ODX proposes a global, accessible blockchain-powered marketplace for data. Utilizing the blockchain technology, publishers and ISPs will be able to transact at scale through a network of trust.
ODX Whitepaper outlining the details of the solution and the sources of the research is currently under legal review and not yet publicly available.
An ODX partnership with the world’s largest network of blockchain game developers Alto.io in August 2018 suggests an important focus of ODX will be blockchain gaming and entertainment, a rapidly growing market particularly in Asia.
Learn more at https://odx.network/.
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