Intuition Raises $4M in a seed funding round led by Superscrypt

Intuition Raises $4M in a seed funding round led by Superscrypt

Time Stamp: June 16, 2023 4:30 AM
Source Node: 2727212

TL;DR: Decentralized Identity Startup Intuition has raised $4 million in a seed funding round led by Superscrypt. Intuition’s protocol aims to capture the wisdom of crowds, providing easily navigable and queryable attestations on any subject. The funding will support the public launch of the protocol and its applications, revolutionizing the dissemination and understanding of information.

Decentralized Identity Startup Intuition Raises $4M in Funding Round

Decentralized infrastructure provider Intuition has secured $4 million in a seed funding round led by Superscrypt. The company is preparing for the public launch of its protocol and initial applications later this year. Intuition enables users to create attestations on any subject and stores the information in a manner that is easily navigable, queryable, and accessible to other applications. The protocol, developed by Ethereum veteran Billy Luedtke, aims to capture and make available the collective wisdom of crowds in an open and inclusive manner.

Superscrypt’s Partner, Jacob Ko, lauds Intuition’s approach, stating that the decentralized and crowdsourced knowledge and opinions incentivized by the protocol have the potential to revolutionize how information is disseminated, consumed, and understood. The current system of centralized platforms, fragmented identity and reputation standards, and opaque search algorithms makes determining the truth a complex task. Intuition seeks to address this by offering globally inclusive and decentralized access to information.

The seed round also saw participation from other investors, including Shima Capital, Avon Ventures, WW Ventures, Matrixport Ventures, Polygon Ventures, ConsenSys, and various VC, DAO, and angel investors. This funding round follows a previous raise in November, which was co-led by Andrew Keys of DARMA Capital and Joseph Lubin, co-founder of Ethereum and founder of ConsenSys.

Intuition stands out from other decentralized identity solutions by offering decentralized identifiers (DIDs) that pertain to all entities, not just high-sensitivity credentials like KYC or personal identities.

According to Luedtke, nearly everything, including people, pseudonyms, web3 products, organizations, and news articles, can and should have DIDs. The goal is to move away from relying on flawed, siloed, and centralized platforms that provide fragmented and occasionally misleading information.

As a protocol, Intuition does not make judgments on the truth or falsehood of information but rather captures and presents what people are saying about a particular topic. By allowing individuals to freely express their opinions and attaching verifiable data to DIDs within an open knowledge graph, Intuition aims to enhance the reputation and identity data available for the things people interact with daily.

The company’s protocol and middleware enable developers to easily integrate Intuition’s attestations and knowledge graph into their own applications. Initially, Intuition will launch a knowledge graph explorer built on top of the protocol, displaying human-readable data about wallet addresses within popular web wallets.

Read Also: SelfKey Combats Identity Fraud with Zero-Knowledge AI Verification Technology

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