Decentralized Identity Startup Intuition Raises $4M in Seed Round with Backing from Superscrypt, Shima Capital, and ConsenSys
In Brief
Decentralized infrastructure provider Intuition has raised $4 million in a seed round fundraise led by Superscrypt, a blockchain investment company founded by Temasek.
Intuition is a decentralized identity platform that allows users to create records or proof about anything they want.
Decentralized infrastructure provider Intuition has raised $4 million in a seed round fundraise led by Superscrypt, a blockchain investment company founded by Temasek.
The round was joined by Shima Capital, Avon Ventures, WW Ventures, Matrixport Ventures, Polygon Ventures, and ConsenSys, along with several other VC, DAO, and angel investors. This round follows a fundraise last November co-led by Andrew Keys, founder of DARMA Capital, and Joseph Lubin, co-founder of Ethereum and founder of ConsenSys.
Intuition is a decentralized identity platform that allows users to create records or proof about anything they want. These records are given their own decentralized identities and stored in a way that allows other applications to easily find, search, use and share them with others when needed.
The protocol aims to enable individuals to build, own and curate an on-chain knowledge graph and ecosystem and ultimately evolve into a seamless backend that powers enriching social features and functionalities across the web.
Intuition core contributor Billy Luedtke explains that the Intuition protocol was created to capture the crowdsourced knowledge about anything while making that knowledge available and open to everyone. Intuition encourages crowdsourced knowledge and opinions from users with its suite of incentive mechanics that encourage individuals to make attestations.
For instance, choose to exclusively see information created by a specific group of trusted sources. Alternatively, they can opt for their data to be filtered through an algorithm of their choice from a selection of models created and curated by the community. This gives users the freedom to create and collaborate on cutting-edge models and analytics and select the models that align with their specific needs.
While decentralized identity has primarily focused on high-sensitivity credentials, like KYC and personal identities, Luedtke believes that nearly everything – including a product, web3 organization or a news article – can and should have decentralized identifiers (DIDs).
“Today, determining truth to make informed decisions is a complex and difficult task,” says Jacob Ko, Partner at Superscrypt. According to Ko, “Information is largely concentrated in big tech platforms, search and curation algorithms are opaque, and identity and reputation standards are too fragmented to provide strong signals.”
As a protocol, Intuition remains impartial when it comes to determining the credibility of any given information. Instead, it captures and shows what people are saying about any piece of information. By providing a platform where individuals can openly express their opinions on various topics and securely linking that data to DIDs within an open knowledge graph, Luedtke hopes to improve the reputation and identity data available to society.
Later this year, Intuition will launch with a knowledge graph explorer that is built on top of the protocol. This explorer will provide easy-to-understand data about wallet addresses inside popular web wallets. Developers can easily integrate Intuition’s attestations and knowledge graph into their own applications.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
