🧊DataBazaar

DataBazaar Flow

DataBazaar is a data trading platform where any user can trade raw or labeled data. Our “Proof of Data Protocol” built on smart contracts, is natively deployed on the DeData decentralized data marketplace DataBazaar, allowing anyone to register and trade data assets.

Data owners can register their data as “Data Assets” within our protocol. These Data Assets are the foundational programmable data metadata on the platform. Each Data Asset consists of:

(1) An on-chain NFT: This could be an existing NFT representing on-chain data or a new NFT specifically minted to represent off-chain data.

(2) Its associated Data Account, which is a modified ERC-6551 (Token Bound Account) implementation. To interact with Data Assets on the platform, we use various “modules” such as licensing, revenue distribution, and dispute resolution modules.

For example, the owner of a Data Asset can set terms for data usage, such as whether or not the data can be used commercially (and at what cost). Data users can then seamlessly acquire usage rights by minting “License Tokens” – governed by the set terms and also represented as NFTs – using the Licensing Module, create revenue streams from data usage through the Revenue Distribution Module, or resolve disputes using the Dispute Resolution Module.

Different Roles

Data Demanders: Demanders can post data tasks, annotation bids, and requirements on the DataBazaar platform. These requests will be broadcast to all Web3 data collectors. Demanders can also browse and access datasets already circulating on DataBazaar, verify the data's accuracy through sampling, and then decide whether to purchase it.

Data Owners: Owners can share raw or annotated data on the DataBazaar platform by minting a data ownership NFT and setting the number of NFTs. Any data demander who meets the bid price can purchase and use the data. When a Data Owner creates an NFT, they must stake a certain amount of assets as a deposit to ensure that the data belongs to the owner. If a large number of users vote through the dispute resolution module on DataBazaar, the dataset will be marked as suspicious, and the staked funds will be used to compensate the data creators. Data owners will receive a royalty from any subsequent sales of the NFT.

DeData Platform: The DeData platform serves as the storage and trading platform between data owners and data demanders. As a platform, it will charge a certain percentage fee for each transaction to maintain its operations.

Note: The platform strictly prohibits the dissemination of information related to terrorism, violence, drugs, and other prohibited content.