Blockchain-based data marketplace ODX, which targets to provide free internet access to emerging economies, has earliery attracted $60 million in commitments from a global list of investors.
Based out of China, YouDeal has over 50 million users, seven million sellers and $60 billion in trading volume. In China, YouDeal connects users with more than 300 industries including fitness, yoga instructors, masseurs, hairstylists, information technology programmers, user interface designers and financial advisors.
The company now has its sights on Southeast Asia with a free internet strategy powered by ODX.
“Data free access is a critical advantage in emerging markets. Your app becomes the default choice for most people most of the time,” said Nix Nolledo, ODX Founder and CEO.
YouDeal understands that success in emerging markets requires dealing with a fundamental problem – that most users are offline most of the time.
Mobile data is expensive in these markets, costing as much as six times what the average user can afford. As a result, consumers are offline over 80 percent of the time.
Through this key partnership with ODX, YouDeal solves this issue by providing users free internet access to their services. Customers will be able to access the app 24/7, even when they have no mobile data plan or mobile airtime credits.
ODX is a blockchain-based data marketplace backed by an impressive cast of crypto heavyweights: Andromeda, Blocktower, DNA, Genesis, Hexa, Pantera and Strong Ventures. Through its data marketplace,
“ODX unites internet service providers and publishers from across the globe to offer consumers free internet access via sponsored data packages,” the company said.
ODX’s parent company is Xurpas, the largest publicly listed consumer tech company in the Philippines. With over 17 years experience and more than 900 employees across Southeast Asia, Xurpas has already built a vast network of publishers and telcos. – BusinessNews.ph