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web3mine

Last updated: Jan 16, 2024

web3mine is a decentralized marketplace for compute resources. It is a place where various resource providers and consumers can meet and exchange compute resources.

Seed Funding Round: $6 Million

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Overview

Project industry	Other
Product type	Marketplace
Founded	Serbia
Whitepaper	Open

What is web3mine

web3mine aims to empower the world to collectively coordinate capital and hardware to build an open, performant and resilient compute infrastructure for everyone. A graduate of Alliance DAO's prestigious demo day and accelerator, web3mine seeks to eliminate common Web2 pain points like location-referenced data, siloed cloud-specific tooling, vendor lock-in, complex legal structures, which often results in the concentration of market power in a few large corporations.

web3mine is building the world’s largest open access compute network to democratize the process of creating and capturing value on new or established decentralized networks.

Over the past year, web3mine has made substantial progress in building out two key offerings.

Hardware monetization: Hardware owners can easily and efficiently deploy and monetize their assets and the utility that they provide (e.g., hard drives for storage, circuits for computational workloads and networking equipment to move data) by completing jobs.
Liquid staking: Cryptocurrency holders can deploy their tokens to aid the growth of the decentralized networks and in return participate in the value they create by collecting staking rewards.