Karma3 Labs raises $4.5M seed round to build OpenRank - a Decentralized Reputation Protocol
Today we announced our $4.5M seed round to build OpenRank - a decentralized reputation protocol. Using OpenRank, developers and web3 protocols can power consumer apps, communities and marketplaces with an open ranking and recommendation layer. As web3 gets ready to onboard the next wave of users, the need for trust and reputation mechanisms becomes increasingly paramount. OpenRank will create the foundation for a future where peer-to-peer interactions and collective community intelligence pow...
Karma3 Labs raises $4.5M seed round to build OpenRank - a Decentralized Reputation Protocol
Today we announced our $4.5M seed round to build OpenRank - a decentralized reputation protocol. Using OpenRank, developers and web3 protocols can power consumer apps, communities and marketplaces with an open ranking and recommendation layer. As web3 gets ready to onboard the next wave of users, the need for trust and reputation mechanisms becomes increasingly paramount. OpenRank will create the foundation for a future where peer-to-peer interactions and collective community intelligence pow...
Reputation - the 🗝 to unlock new paradigms in Social and Consumer
Creating safe and engaging consumer experiences in web3 is hard. And it's not just because of 'UX problems'. Developers have to navigate through the motivations of users, the utility users want and their revealed preferences — when data is open and on-chain, yet very noisy. There is massive value in helping on-chain communities navigate through clear reputation signals for everything and everyone on-chain — users, transactions, apps, and smart contracts. Imagine if users in web...
Reputation - the 🗝 to unlock new paradigms in Social and Consumer
Creating safe and engaging consumer experiences in web3 is hard. And it's not just because of 'UX problems'. Developers have to navigate through the motivations of users, the utility users want and their revealed preferences — when data is open and on-chain, yet very noisy. There is massive value in helping on-chain communities navigate through clear reputation signals for everything and everyone on-chain — users, transactions, apps, and smart contracts. Imagine if users in web...
An Essay on the Design Principles: Building Decentralized Reputation Systems
Reputation - The Key to Effective Decentralized CoordinationReputation serves as a key form of trust and coordination signal across various communities. Arguably, much of the success of Web2 is due to the reputation systems embedded in Web2 products (e.g. Uber driver ratings, AirBnB host ratings, eBay reviews). These ratings provided crucial trust signals on Web2 platforms and marketplaces, enabling effective coordination of service discovery and delivery. The challenge with Web2 reputation s...
An Essay on the Design Principles: Building Decentralized Reputation Systems
Reputation - The Key to Effective Decentralized CoordinationReputation serves as a key form of trust and coordination signal across various communities. Arguably, much of the success of Web2 is due to the reputation systems embedded in Web2 products (e.g. Uber driver ratings, AirBnB host ratings, eBay reviews). These ratings provided crucial trust signals on Web2 platforms and marketplaces, enabling effective coordination of service discovery and delivery. The challenge with Web2 reputation s...
The Unbundling of Social Networks
Social media platforms are our modern town squares -- they are where ideas are debated, relationships formed, and communities cultivated. But right now, these digital civic spaces are owned entirely by corporations, with all of the predictable consequences: from recommendations algorithms that reward clickbait to moderation practices that benefit advertisers. We must bring sovereignty, transparency, and shared ownership to internet communities. This is only possible if we re-architect the soc...
The Unbundling of Social Networks
Social media platforms are our modern town squares -- they are where ideas are debated, relationships formed, and communities cultivated. But right now, these digital civic spaces are owned entirely by corporations, with all of the predictable consequences: from recommendations algorithms that reward clickbait to moderation practices that benefit advertisers. We must bring sovereignty, transparency, and shared ownership to internet communities. This is only possible if we re-architect the soc...
Social signals behind the reputation of NFTs - An invitation to create open NFT rankings with Karma3 Labs
NFT Collection rankings based on social consensus, using on-chain data and verifiable computeThe abundance of NFTs came with an abundance of noiseThe Defi summer in 2020 led to an exponential growth of on-chain transactions, enabling a transparent lens for crypto and web3 community to understand trends and behaviors, providing useful insights for decision-making. The explosion of NFTs later in the summer opened doors for millions of new users to experience on-chain ownership and access. Today...
Social signals behind the reputation of NFTs - An invitation to create open NFT rankings with Karma3 Labs
NFT Collection rankings based on social consensus, using on-chain data and verifiable computeThe abundance of NFTs came with an abundance of noiseThe Defi summer in 2020 led to an exponential growth of on-chain transactions, enabling a transparent lens for crypto and web3 community to understand trends and behaviors, providing useful insights for decision-making. The explosion of NFTs later in the summer opened doors for millions of new users to experience on-chain ownership and access. Today...
