In today’s modern economy, data is indisputably valuable. After all, it fuels critical decision-making across governments, financial sectors and eliminates the cost of guesswork. Yet monetizing this prized commodity has often been elusive. The public usually lacks the know-how to participate in the data economy or has been systematically locked out by corporate monopolies that control the data.
The launch of NATIX Network presents a unique and potentially game-changing opportunity for everyone to participate in the ever-growing, $35 billion global surveillance market. The Network, and NATIX’s AI technology, can turn nearly every modern camera into a super data sensor that processes video in real-time to generate anonymized metadata. This data populates a Decentralized Dynamic Map that serves citizens, businesses, and municipalities with a wide range of real-time applications such as crowd size, available parking spot finding, pothole locations, and more.
To understand how the Network generates revenue for its users, let’s explore how participants can contribute, learn about the Network’s token system, and understand how rewards are earned.
Everyone anywhere can participate in the NATIX Network. This means anyone can use a camera anywhere in the world and generate live, anonymous data for their benefit. However, data gatherers aren’t the only ones who can take advantage of this unique platform. The NATIX Network has five types of Stakeholders who drive everything that happens on the Network, from data collection and validation to data distribution and consumption.
Here is a breakdown of our Stakeholders:
The Detector — This role delivers the fuel (in this case, data) that keeps the Network going. A Detector is any individual using NATIX apps or other NATIX-enabled smart cameras to mine live data (real-time geospatial data) by monitoring their physical space. In action, this might mean a homeowner generating data through his security cameras, a driver collecting data while driving, or even a scooter or bike rider. The beauty of this crowdsourced data is that it is all anonymized. Using NATIX Technology, no images are sent to the Network, only metadata. For example, that data may include the number of vehicles or the number of people passing by a street, but not faces, license plates, or other identifying details.
The xNode — As data is collected by Detectors, it is first reviewed by xNodes, who are the verifiers of the system. Those acting in the xNode role handle the verification and transmission process of the data. xNodes act as a bridge and potential filter; they ensure data quality and fidelity.
The Delegate — Similar to a political delegate representing a jurisdiction, NATIX Network Delegates represent an interest in pieces of land on our digital world map. Delegates purchase areas (iLand) within the digital map to support the development of an area, and they receive royalties from the data collected in their regions.
The Developer — A Developer is a software developer who designs detection applications on the map, “mApplets.” The mApplets analyze images locally on cameras, in real-time, and share only anonymized metadata with the Network (not images or identifying information). Developers help by enabling Detectors to get specific types of data they’re looking for in an area. NATIX offers a software development kit (NATIX Vision SDK) for Developers to build their mApplets, submit them for review, and then deploy them on the Network.
The Consumer — Data Consumers play a vital role in the NATIX Network’s ecosystem. Consumers fund the Network via subscriptions to data collected and validated by the Network. After subscribing, NATIX Network delivers the data to them directly in a live fashion. Consumers could be from the private or public sectors and be part of any industry.
There are two primary tokens. The first represents stewardship of a geographic area, and the second serves as the main currency for our users’ payments, rewards, and benefits.
iLand — iLand or “Intelligent Lands,” are non-fungible tokens (NFT) that note the ownership of a specific geographic area in NATIX’s digital twin of the world. The world map has broken down into small tiles and each tile corresponds to an iLand NFT covering the globe. These iLand NFT’s offer early Delegates a chance to own a small stake in the data activities of local communities. Those purchasing an iLand NFT have the right to earn a percentage of the data revenues generated on their tiles.
NTXT — The NTXT token is the Network’s cryptocurrency that serves as the utility token within the platform. The Network uses this token to deliver payments to its contributors after consumers purchase data subscriptions. Simply said, the NTXT token is our currency for the Network’s rewards, benefits, and purchases.
A user participating in NATIX Network earns this revenue in two ways: either by contributing their services to the Network (as is the case for Detectors, xNodes, and Developers) or via supporting the Network (when Delegates purchase iLand NFT). The Network compensates users for contributions with a revenue-sharing system and through a Reward Pool for additional incentives.
Starting with revenue sharing, this is the primary way users earn NTXT cryptocurrency. Every user, whether you’re a Delegate, Developer, Detector, or xNode, is given a percentage of the Network’s profits that are generated through their activity.
In practice, that means when a Consumer purchases a particular data subscription, revenue from that purchase is shared between the Detectors, Developers, Delegates, and xNodes who were involved in the creation of that subscription’s data. The revenue sharing model finds a fair distribution of the profits to all involved actors.
The second way to earn revenue is through our Reward Pool. The Reward Pool offers users daily rewards for their contributions. There will be a fixed amount of NTXT placed in the Reward Pool when the Network launches. A percentage of these tokens will be divided between eligible Actors daily, based on the work they have done for the Network. By using a percentage of the remaining tokens in the pool to distribute, we ensure the Reward Pool never depletes itself and that it can sustainably offer valuable rewards in the future.
With the launch of the NATIX Network and its ecosystem of sellable, anonymized data, NATIX offers everyone a chance to be a part of the data economy. No matter who you are or where you live, NATIX Network’s system of Actors and Tokens has the power to unlock unprecedented revenue opportunities.
At NATIX, we’re committed to supporting local economic activity through our simple yet sophisticated technologies, and with the support of our contributors and data consumers worldwide, we expect great things ahead. We will provide further details regarding the Network token economy in later stages.
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DISCLAIMER: This is not financial advice. The author is not responsible for any decisions that readers choose to make.