VANA’s Price Skyrockets: CZ Joins the Party and YZi Labs Makes Waves!

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Well, well, well! It seems that Vana (VANA) has decided to throw a little party, and the price has surged like a catapulting kangaroo during the early hours of the Asian session on Tuesday. Why, you ask? Because YZi Labs (formerly known as Binance Labs) has decided to invest in this platform, and who wouldn’t want a piece of that action? 🎉

Vana is not just any crypto startup; it’s a pioneering crypto-AI startup that’s all about data ownership. Imagine a decentralized Layer-1 (L1) blockchain that gives users control over their data. It’s like giving a toddler the keys to a candy store—exciting and a little terrifying! 🍭

YZi Labs Invests in Vana With CZ As Advisor

According to BeInCrypto data, the VANA token has jumped up by almost 35% to trade for $8.37 as of this writing. That’s right, folks, it’s not just a price increase; it’s a full-blown price explosion! 💥

This surge follows YZi Labs’ decision to invest in Vana, marking its first AI investment since rebranding from Binance Labs. YZi Labs claims this investment is the first step in unlocking AI’s next frontier. Sounds fancy, doesn’t it? 🚀

“YZi Labs has expanded its focus beyond Web3 to include investments in AI and biotech, reflecting our commitment to pushing the boundaries of transformative innovation,” said Andy Chang, Investment Director at YZi Labs. Well, that’s a mouthful! 🧐

Vana confirmed the investment in a post on X (Twitter), indicating that the Binance founder, Changpeng Zhao (CZ), is now involved. Yes, you heard it right! CZ is here to advise this pioneering crypto-AI startup. Talk about a power move! 💪

“We’re thrilled to announce YZi Labs strategic investment in Vana and to welcome CZ as an Advisor as we advance the Data Layer for AI alongside our expanding DataDAO ecosystem,” read the announcement. Thrilled? More like over the moon! 🌙

Now, here’s the kicker: details on the investment structure and valuation after the round remain as mysterious as a magician’s secrets. According to Vana founder Anna Kazlauskas, they completed the round in January, with YZi Labs as the sole investor. A solo act, if you will! 🎩

Before this funding round, Vana had already raised a whopping $25 million from leading funds like Paradigm, Coinbase Ventures, and Polychain Capital. With the new funding from YZi Labs, Vana aims to expand the DataDAO ecosystem. It’s like they’re building a data empire! 🏰

They plan to launch Data Tokens for over 16 DataDAOs and attract more data contributors. Vana will also support multiple new DataDAOs and broaden the application of data financialization. It’s a data party, and everyone’s invited! 🎊

The backing of YZi Labs and CZ could make Vana a notable player in the AI and blockchain spaces. Data ownership is becoming an increasingly central issue in the tech industry. Who knew data could be so popular? 📈

As BeInCrypto previously reported, Binance Labs’ rebranding to YZi Labs made it an independent entity. However, it also enabled CZ to participate actively in its operations. A clever little maneuver to sidestep his lifetime ban from working at Binance. Talk about a plot twist! 🎭

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2025-02-25 11:54