Co-founded by former PayPal Head of Blockchain Strategy, Snickerdoodle aims to use NFTs to build a data economy focused on user data privacy and security.
San Jose, CA, June 08, 2021 –(PR.com)– Blockchain startup Snickerdoodle Labs, a company building an enterprise NFT based data layer to empower individuals to take control of their data, has announced the successful closing of their seed funding round for $2.3 million.
The round was led by Kenetic, a Hong Kong based blockchain investment and trading firm with notable venture capital funds Blockchain Capital, Struck Ventures, Zilliqa Capital, FTX and Sam Bankman-Fried, Tribe Capital and Zinal Growth completing the round to form a strategic coalition of investors with expertise in crypto, blockchain technology, data science and enterprise integration.
Snickerdoodle is pioneering the use of NFT technology to build a dynamically secure data economy that creates value for all stakeholders, including data owners. Through a tokenized architecture Snickerdoodle will enable self-sovereign identity, giving individuals control over their identity in dynamic environments while safeguarding privacy. Further, Snickerdoodle will enable enterprises to interact with personal data, with user permission and privacy, at scale across multiple blockchains. Snickerdoodle is launching with initial integrations with Polkadot and Solana.
“Our ambition is to create the definitive personal data layer of Web 3.0 that is ubiquitous across the NFT ecosystem and blockchain as a whole,” said Jonathan M. Padilla, Co-founder and CEO of Snickerdoodle Labs and former Head of Blockchain Strategy at PayPal. “While the NFT ecosystem has seen a dramatic uptick in engagement over the last year, what’s missing is a dependable way to ensure true data ownership and privacy alongside secure and voluntary data commerce. That’s exactly what we’re building.”
Working across industries and with universal integration across digital wallets and marketplaces, Snickerdoodle’s vision is to leverage NFTs as the cookies of Web 3.0, supporting the development of commercial and industrial NFTs while removing barriers and limitations between people and technology.
“Snickerdoodle is the first company to pioneer NFT’s for enterprise data usage, and is laying the foundation for a massively scalable and interoperable framework for safe, private and incentivized use of personal data. With a team from Paypal, Stanford Digital Currency Institute, Citigroup, and traditional media, we are excited to partner with them and support their Asia growth strategy,” said Kenetic’s managing partner, Jehan Chu.
Snickerdoodle will utilize Zero-Knowledge Proofs and creative design to empower users while fully protecting their privacy. “We are building a first-of-its-kind infrastructure to allow people to own and monetize their data in a secure way, no matter where it lives, how it travels, or what it’s used for,” said Atticus Francken, Co-founder and Chief Strategy Officer of Snickerdoodle Labs.
Snickerdoodle anticipates a token offering to take place this summer to further capitalize the development of the Snickerdoodle ecosystem.
Snickerdoodle is a venture capital-backed blockchain technology company that is reimagining experiences and inspiring connections between people, brands and ideas while enabling self-sovereign identity and fully protecting user privacy using a tokenized data architecture.
Snickerdoodle’s vision is to fulfill the promise of the internet.