Fast take:
Finality Capital Companions, Bodhi Ventures, Escape Velocity and A16z’s startup accelerator (CSX) additionally joined the spherical.
Opacity Community blends a set of applied sciences that embody zero-knowledge proofs, multiparty computation and actively validated companies to confirm information.
The corporate has already onboarded the likes of Nosh and Teleport, that are utilizing the platform to confirm driver info.
Opacity Community has introduced a $12 million seed spherical led by Archetype and Breyer Capital. The fundraising additionally attracted participation from Finality Capital Companions, Bodhi Ventures, Escape Velocity and A16z’s startup accelerator (CSX).
The fundraising was structured as a easy settlement for future fairness (SAFE) with a valuation cap and token warrants, co-founder Hersh Patel informed The Block.
Opacity Community’s platform is powered by a mix of applied sciences that features a zero-knowledge proof-based transport layer safety (zkTLS), a multi-party computation structure, and EigenLayer’s actively validated service (AVS), permitting customers to confirm and supply information on-chain with out compromising their safety and privateness.
As an example, Nosh, which permits drivers and eating places to move their current reputations from “monopolistic” rails to on-chain platforms is utilizing Opacity Community to confirm driver info. Teleport, a ride-sharing app constructed on Open Protocol can be utilizing the platform to confirm driver info.
Patel stated the corporate is engaged on extra partnerships with the likes of Heale, which is constructing a unified API for logistics and Earnifi, a payroll verification platform.
Commenting on his firm’s co-leading function within the spherical, Dmitriy Berenzon, companion at Archetype, stated in an announcement, that with Opacity Community, builders can deliver “verifiable information from any web2 supply on-chain” thus “[removing] the obstacles to entry for bootstrapping new platforms and onboarding new person.”
Opacity Community’s different co-founder Aaron Marz is cautious that some giant platforms could not need their customers to confirm their information however believes the advantages of utilizing verified person information will enchantment to all firms finally, and never simply the crypto-native platforms.
“As a result of the worth of information locked behind walled gardens is so important, we count on a Cambrian explosion of latest use circumstances to be unlocked from our companions,” Marz informed The Block.
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