By Kimberly Crain
On Monday, July 9, the prominent on-chain data provider Arkham Intelligence released a unique marketplace allowing traders to sell and buy crypto data. The new marketplace “Arkham Intel Exchange” will play a critical role in “deanonymize the blockchain” using artificial intelligence technology.
In a blog post, the Arkham group confirmed that the new marketplace aims at meeting the demands for on-chain analysis by creating an intel-to-earn ecosystem. The new platform has incorporated bounties to enable the investigators on the on-chain platform to earn from research.
Features of Arkham Marketplace
In a recent market study, the Arkham team observed a growing demand for on-chain analysis in diverse sectors. This analysis is commonly used by researchers, journalists, investors, and traders when executing their tasks.
Besides the growing demand for on-chain analysis, the Arkham team noted that the number of researchers utilizing the on-chain platform has gradually increased. With the new marketplace, talented researchers will be offered a platform to monetize their skills.
According to the official announcement, the new marketplace will comprise a native token ARKM available on the Binance launchpad. Reportedly the Binance Launchpad supports Initial exchange offering (IEO), a crowdfunding project that allows users to support early startups. The Binance Launchpad has been supporting Polygon, Axie Infinity, Binance, and Sandbox.
As of this publication, approximately 50 million tokens are available for sale, while the total token supply amounts to 1000000000 ARKM. This implies that the trading volume constitutes 5% of the total ARKM in supply.
Also read:Importance of the Crypto Data Marketplace
Nevertheless, the new platform has integrated the bounty features to address the challenges facing the buyers and sellers on the on-chain platform. The new bounty elements enable the users to obtain relevant information through requests.
In their announcement the Arkham team outlined crucial steps to obtain the necessary information. Typically, the user must request the information by placing a bounty on the platform. The submitted request will be completed by a bounty hunter, a talented blockchain researcher who will provide the required information.
The platform will reward the bounty killer once the request is completed. Beyond this, it was reported that from July 11 to July 17, the traders will be allowed to purchase ARKM tokens for $15000.
The report mentioned that 5% of the ARKM token supply will be allocated for the token sale. The remaining amount will be distributed to core developers, investors, and foundation treasury at 20%, 17.5%, and 17.2%, respectively.
Will the New Marketplace Address Crypto Hacks?
In a Twitter update dated July 10, the Arkham team confessed that the new marketplace aims at addressing crypto hacking. The tweet explained that the developers integrated revolutionary tools to incentivize any on-chain research crucial in combating financial crimes.
In a follow-up tweet, Twitter user Rose Premium Signals expressed concern about Arkham’s latest development. The Twitter user urged the Arkham group to maintain user privacy and ethical standards when dealing with personal data.
A recent statistic revealed that financial crimes involving crypto hacks and malicious attacks resulted in losing assets worth billions of dollars in 2022. The report illustrated that most financial crimes were conducted on cross-chain bridges, exchanges, and decentralized finance (DeFi) protocols.
A report on the Binance Research page revealed that Arkham generated around $10 million in two subsequent funding rounds. At that time, the firm had equity financing worth $150 million.
The successful rounds were led by best-performing firms and crypto moguls, including Tim Draper, co-founders of OpenAI Sam Altman, Bedrock Capital, GSR Market, and Wintermute Trading.
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