Multicoin Capital: Why did we invest in the decentralized AI talent marketplace CrunchDAO?

Translator's note: On August 15, CrunchDAO core contributor Crunch Lab completed a $3.5 million seed round led by Multicoin Capital, bringing its total financing to $5.3 million. CrunchDAO is a platform for artificial intelligence researchers to participate in distributed machine learning competitions. In addition to other rewards, CrunchDAO members can also earn CRNCH tokens by participating in competitions to gain governance rights over the platform. Multicoin Capital Investment Partner Shayon Sengupta expressed his insights on this investment and is optimistic about CrunchDAO's potential to realize collective intelligence with a decentralized AI talent market.

CrunchDAO is building the infrastructure for collective intelligence and is committed to commoditizing predictive insights in the world's largest markets. Multicoin Capital is honored to support their ambitious mission.

Crunch provides enterprises with structurally lower costs to access high-quality machine learning talent through a decentralized, barrier-free talent marketplace. Anyone in the world can pose a well-defined data science problem and tap into a competitive community of thousands of researchers to find solutions.

Talent is everywhere, but opportunity is not. The Netflix Prize competition proves that the most valuable technological innovations can come from anywhere. The more diverse the participants and the better the incentives, the better the solutions - this is the free market for intelligence.

Crunch is solving a global coordination problem: it pools the brainpower of the world's best researchers and matches them with enterprises that are increasingly in need of machine learning expertise. Cryptography facilitates payments around the world while building stronger reputation and trust systems to ensure that transactions are always consistent as supply and demand grow.

Throughout history, as the channels for value transfer have become increasingly sophisticated, the smallest unit of work has continued to shrink. Mobile Internet has given rise to what we call the "gig economy," and encryption technology has further accelerated this trend, making more specialized and segmented forms of labor and contribution possible.

The ultimate form of the future world is "everything can be rewarded". Crunch, as the base layer, enables researchers and their models to participate in solving global open problems. It provides a fair playing field where experienced engineers and anonymous high school students with anime avatars can compete purely based on their respective contributions.

Currently, Crunch is working with large investment institutions to provide actionable insights into asset pricing. In the future, Crunch will be widely used in all industries that rely on time series data for future predictions, such as healthcare, insurance, logistics, and utilities.

If you are a data scientist who wants to get paid by solving problems involving major markets, please visit crunchdao.com/#livecrunches.