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Filecoin-Powered FileMarket Launches AI Data Collection Platform for Earnings

  • Filecoin is pushing data integrity for AI modeling through FileMarket.
  • The Filecoin ecosystem is growing, solidifying its pace as the largest decentralized data storage.

FileMarket, a data tokenization protocol powered by Filecoin (FIL) recently announced the launch of an Artificial Intelligence (AI) data collection platform for users. According to the announcement, users will get paid to train Al by gathering data for the new platform, through the upcoming FileMarket app.

“Get ready for an explosive release coming soon,” the protocol noted.

FileMarket Partners With Telegram and Farcaster

The FileMarket platform collaborated with social networks like Telegram and Farcaster to collect diverse datasets directly from users. They can submit and collect diverse datasets including audio, photos, text, and more for specific needs. These data, collected with the utmost privacy and transparency, become the building block for robust AI models.

⚡️Introducing the new FileMarket – a Community Driven Data Collection Platform

With our upcoming app, you will be able to earn money by training Al by collecting data for it

Get ready for an explosive release coming soon!

Learn more abt new FileMarket: https://t.co/DPQ4bJofp7 pic.twitter.com/hQA3eV3LlH

— FileMarket (@FileMarket_xyz) July 2, 2024

As disclosed on its official website, FileMarket prioritizes quality during data collection. The platform employs rigorous validation and precise labeling processes to ensure the collected information is accurate and effective for training powerful AI models.

Additionally, FileMarket leverages the power of decentralized networks and Web3 technologies to provide a secure and transparent environment for data storage. This approach ensures complete data integrity and puts users in control of their privacy.

The data collected through FileMarket has the potential to transform various industries. Notably, it can be utilized for navigation systems, urban planning models, biometric identification, VR/AR applications, behavior analysis models, and smart cameras.

FileMarket is part of a vibrant community within the Filecoin ecosystem, the world’s largest decentralized storage network. This collaborative environment supports innovation and drives progress across multiple industries.

Filecoin’s Integrations and Advancements

FileMarket is just one among several developments on the Filecoin blockchain. The Filecoin Foundation highlighted the growing community of developers and founders within the ecosystem, with over 580 projects and 8,800 participants.

Reiterating Crypto News Flash’s earlier reports, GetBlock announced support for Filecoin, solidifying its position as the leading decentralized data storage system. This support enhances the network’s flexibility and functionality, enabling users to host smart contracts on the Filecoin Virtual Machine.

Filecoin’s latest advancement also includes integration with Basin, a decentralized storage system. Developed by Textile.io, Basin is the world’s first Layer 2 (L2) solution for data on the Filecoin network. It is designed for AI/ML developers, decentralized networks, and Decentralized Physical Infrastructure Networks (DePINs).

Basin ensures robust data security and integrity by leveraging a decentralized architecture. This guarantees data availability across multiple nodes and reduces the risk of data loss or corruption, as previously reported by Crypto News Flash.

Besides integrations with Basin and GetBlock, the Filecoin ecosystem has also collaborated with CIDGravity. With CIDGravity integration, customers may quickly locate the best storage providers and import data into Filecoin, per Crypto News Flash’s earlier announcement.

Meanwhile, our data shows the FIL token has declined in value substantially over the past week. At press time, FIL is trading at $4.19, demonstrating a 4.4% decrease in the past day. However, the trading volume increased by 17.9% to $114 million, indicating renewed investors’ sentiments.

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