This week, we’ve evaluated and scored a variety of promising projects.
Please note that some of these projects are still pending our code review process. However, we wanted to highlight them here, as they have already stood out based on our initial fundamental analysis. Stay tuned for further insights as we continue to assess their potential.
Note: We have slightly tweaked our fundamental scoring framework so the projects scoring above 70 could be considered to have good potential.
Network3 – 73.81%
Website | X (Twitter)
Sector – AI/DePin
Status – Not active
By sharing bandwidth, IP addresses, datasets, and device computing power to Network3, individuals can contribute to AI training and earn token rewards. This transforms smart devices into valuable assets that generate ongoing benefits. Additionally, startups can collaborate, share resources, and contribute to the growth of the AI industry.
Network3 has built AI Layer2, designed to help AI developers worldwide efficiently, conveniently, and cost-effectively perform large-scale inference, training, or validation of models. In this way Network3 lowers the entry barriers for users and promotes the development and application of the DePIN ecosystem
Investors
Network3 raised $5M in July 2024 from IoTex, SNZ Holdings, Waterdrip Capital and Bing Ventures.
Qualoo – 70%
Website | X (Twitter)
Sector – DePin
Status – Testnet
Qualoo is a pioneering platform reimagining how users interact with the internet. By combining customer experience, telecommunications, and blockchain technology, Qualoo addresses systemic issues affecting billions of users worldwide. It promotes new collaborative models, enhancing the global internet’s health while safeguarding the quality of over-the-top and e-services. These services rely on reliable delivery and third-party partnerships to thrive in a rapidly expanding industry projected to reach $7 trillion by 2032.
Qualoo’s Decentralized Physical Infrastructure Network drives this transformation, powered by individuals incentivized to operate Qualoo nodes. In return, they earn passive income through rewards and revenue sharing while contributing to a more equitable and accessible internet for all.
Features
User-Centric
- Empowers users to improve their own network performance.
- Contributes to a better global internet for all.
Sharing Economy
- Share in the revenues and benefits of the network’s growth.
- Participate in the network’s success.
Low Entry Threshold
- No need for expensive hardware to start contributing.
- Easily get started with a fixed node or mobile app.
AI & ML Network Analytics
- Nodes actively analyze internet quality.
- Detect issues from both provider and user perspectives.
- Utilize AI, ML, and data analytics.
Token
The core functionality of Qualoo is built on the Qualoo Test Nodes, owned and operated by individual users. Test Nodes perform internet performance tests, rewarding users with the Qualoo Experience Token (QXT).
Scannit – 69.05
Website | X (Twitter)
Sector – DePin/scan-to-earn
Status – Active
Scannit transforms digital financial identity by creating, populating, and visualizing an Intuitive Visual Digital Avatar (IVDA). This empowers users to maintain full control over their personal data, ensuring transparency and security by allowing them to selectively share information. Scannit facilitates efficient and equitable data exchange, transforming financial data into actionable insights and valuable rewards.
Through the “Scan to Earn” feature, users can upload receipts or invoices and earn $SCAN Tokens, making data sharing both secure and rewarding. Scannit aims to empower users to actively participate in and benefit from managing their digital identities, fostering a fair exchange of information.
Features
- Collector Apps: Applications like the Scannit B2C app that gather data from users and feed it into the ecosystem.
- Data Buyers: Entities that utilize the collected data for various applications, ensuring a fair trade and providing value to users.
- User Control: Users maintain full ownership and control over their data, deciding who can access it and when.
Token
The $SCAN Token is the native cryptocurrency of the Scannit ecosystem. It plays a central role in the platform, powering transactions, governance, and community participation.
Funding
Scannit raised $1,060,000 in its seed round in April 2024.
Nubila – 70
Website | X (Twitter)Sector – DePin
Status – Active
Nubila is a pioneering platform dedicated to creating the largest ESG data network within the DePIN ecosystem. By utilizing AI and ESG tokenization, the network promotes data transparency, trust, and accessibility, driving sustainability initiatives and informed decision-making. Nubila’s comprehensive approach incorporates advanced sensor technology, community engagement, and integration with DePIN to provide real-time, accurate ESG data.
Nubila’s token mining process rewards individuals for contributing to the network by deploying and operating advanced weather stations (sensors) and virtual nodes. These devices collect ESG data, which is used to enhance the network’s capabilities. By participating, individuals earn Nubila tokens, incentivizing widespread data collection and fostering a robust ESG data infrastructure.
Features
- Effortless Data Collection:
- Easy installation of stations in desired locations.
- Start collecting valuable ESG data immediately.
- Real-Time Insights:
- Continuous data collection from stations.
- Access to the latest ESG insights.
- Rewarding Data Collection:
- Earn SNUBI tokens for participation.
- Incentivized data monitoring.
- Global Data Network:
- Join a growing network.
- Expanded global coverage for enhanced data accuracy and reliability.
- AI-Powered Precision:
- Advanced AI analysis of ESG data.
- Precise and actionable insights.
- Proactive Predictions:
- Predictive models for forecasting ESG patterns.
- Informed decision-making based on future trends.
Token
Nubila is governed by a decentralized community of stakeholders, including token holders, node operators, and contributors. The governance model ensures that decisions are made collectively, promoting transparency and inclusivity.
Investors
Nubila’s recent fundraising round was led by prominent entities such as IoTeX, VeChain, and Boston Consulting Group, with participation from various investors including OrangeDAO, MH Ventures, Future Money Group, SNZ Holdings, DePINsurf, Kronos Research, Taisu Ventures, Bytetrade, WaterDrip, Deepin Lab, Assembly Partners, Cyber, Radiance Ventures, and Genopets.
Aligned
Website | X (Twitter)Sector – Infrastructure
Status – Not Active
Aligned is committed to expanding Ethereum’s zero-knowledge capabilities. Aligned aims to expedite Ethereum’s development by making proof verification more efficient and cost-effective. Proof verification can be achieved at 10% of the current cost. Aligned is connected to Ethereum but operates as a distinct decentralized network of verifiers, rather than a Layer 2 solution that produces blocks.
Aligned offers proof aggregation as part of its aggregation mode, a feature common to all aggregation layers. However, Aligned distinguishes itself with its fast mode, which enables cheap and low-latency proof verification through restaking. Aligned is a decentralized network dedicated to verifying zero-knowledge proofs, utilizing recursive proof aggregation as a key tool.
Investors
Aligned is backed by Hack VC, Nomad, Finality, Lemniscapt, Bankless, L2IV and others. In its seed and series A rounds, Aligned has collectively raised $22.6M.
