Ask anybody, “do you wanna earn more money?” and they will most probably say yes. And that’s a fact. Everyone wants to earn more so that they can spend more. It’s as simple as that. But what if there’s a way to earn without doing anything other than monetizing your own data. Sounds crazy, right? HUDI wants to do that, a data monetization ecosystem.
HUDI is a DeFi-based data monetization ecosystem allowing users, data owners, and organizations to cooperate and monetize their data. All of this in a fully open, transparent, and manageable environment.
How does HUDI monetize data for HUDI users?
That’s an interesting question. What HUDI does is that users can collect their data from other social media platforms (like Facebook, Google and Instagram) and sell them to organizations within HUDI. Through this, you can make a profit in crypto, specifically the $HUDI token.
After monetizing your data, HUDI users can use their $HUDI Tokens through:
- Purchasing products and services inside the ecosystem, or
- Exchanging them back for cryptocurrencies or fiat currencies.
Due to its DeFi architecture, HUDI offers 3 kinds of pools where users can put their tokens and receive an interest rate in return.
- DeFi Staking Pool: HUDI users (also the beginner ones) earn rewards in its native Token by staking coins in the exchange.
- DeFi Liquidity Pools: For more expert users, coins are locked in order to ensure liquidity for those tokens on a decentralized exchange. The so called “liquidity providers”receive HUDI Tokens afterwards.
- Mini Liquidity Pools: Users having major tokens (such as USDT / BNB / ETH) but don’t have HUDI Tokens can join this liquidity pool.
Why should organizations and businesses take interest in HUDI?
Businesses and organizations inside the HUDI Ecosystem can access high-value services:
- Highly Targeted lead generation
- Omni Channel Custom Audience
Businesses can optimize their marketing strategies through Lead Generation. They do so by acquiring the contacts of only potential customers.
On the other hand, through Omni Channel Custom Audience, businesses & advertisers can choose with high accuracy about which audience should see their ads for their products or services.
But how will the companies get the online audiences? These are provided through:
- Data Platforms — that select the specific interests of every potential customer, and
- The Advertisers — they exploit sources like customer lists, websites or app traffic, made up of people who already know a certain business.
Moreover, the second type of audience is provided by HUDI to advertisers under the omnichannel viewpoint. This creates the Omni Channel Custom Audiences.
While we are talking about monetizing data, one thing should be highlighted: users inside the ecosystem have total control and transparency over the data they want to monetize.
Final Thoughts
The concept of monetizing your data has been discussed several times before, and it always went through a lukewarm response. It is because all the offerings before were lacklustre in the interface or had little to no incentive in monetizing. However, HUDI, with its ecosystem and its purpose-built data platforms and advertisers’ architecture, provides a genuine incentive of monetizing data. Moreover, it looks like a potential project that could be in the mainstream news very soon.
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