Name of Project: Algovera Onshore
Proposal in one sentence:
A Web3 eco-system that rewards contributors to data science projects.
Description of the project and what problem is it solving:
Currently, there is a general lack of data scientists in the Ocean eco-system. At the same time, there is a demand side issue for datasets on the marketplace. We are onboarding data scientists to Ocean who are natural consumers of data. Web3 values ensure that data scientists have ownership over their creations, and also push towards decentralization of AI.
Grant Deliverables:
Which category best describes your project? Pick one.
Which Fundamental Metric best describes your project? Pick one.
What is the final product?:
A web app that provides a frictionless experience of exploring datasets and publishing algorithms on the Ocean Marketplace. A DAO for data scientists where data and models can owned and governed. A breeding ground for ideas to grow between data providers, data solvers and app developers.
How does this project drive value to the “fundamental metric” (listed above) and the overall Ocean ecosystem?
Firstly, the project will increase adoption of the Ocean protocol platform by data scientists. The data science platform Kaggle has over 5 million registered users (https://www.kaggle.com/general/164795). These users do not have the opportunity to take a stake in the underlying Kaggle platform itself. If we assume that we can capture 0.001% of this market (50 individuals) and that 20% of these early adopters (10 individuals) choose to invest in Ocean tokens (with an average investment of 2000 $OCEAN), this results in a Total Value Locked (TVL) of 5,000,000 * 0.001% * 20% * 2000 $OCEAN = 20,000 $OCEAN demand.