What is ocean protocol is this something we need in cryptocurrency marketplace and will the price go up all those questions answered here today? So if you want to find out the answer, stay tuned, Music, what's up everybody randall here from crypto love today, we're talking about ocean protocol. What is ocean protocol before we get into that? Thank you to all the subscribers. Thank you to everyone liking, the video nuking a now. The like button, also mashing on the notification bell and if you want to join us over on patreon, come hang out with a bunch of cool people over there now ocean protocol. What is this? This is a project that's using artificial intelligence to enter the big data market. In case you haven't heard of it, you are already giving up tons of your data tons of your privacy, tons of things about you and you're not being rewarded for it like, for example, you ever talk with somebody about something, and then you look at your phone And you get an ad on facebook about exactly what you were just talking about, that's, how facebook uses big data in order to market to you and make a ton of money now how much is a ton of money? As a matter of fact, it's estimated by 2025, the big data market's going to be worth 229 billion dollars a year, that's a lot of money, so ocean protocols, building a platform that's going to enter that now.
What did they say about it? They say big, powerful web 3 apps for the big data economy. Ocean protocol helps developers, build marketplaces and other apps to privately and securely publish, exchange and consume data. So basically, you can launch your own decentralized marketplace where you can earn ocean tokens by giving them your data so quickly launcher on data marketplaces using their software components connected to the decentralized ocean data sharing network data providers can monetize data while preserving privacy and control data Consumers can access data that they couldn't get before private data. Now, additionally, they have access controls, so you can keep your assets secure with the web3 asset, control, maintain control of your data and only grant assets over the data sets without a centralized intermediary and then also you can buy and sell your data while preserving your privacy. So you can compute the data, resolves the trade off between the benefits of using private data and the risks of exposing it. It lets the data stay on premises. It allows third parties to run specific compute jobs to get it to use compute to useful compute results. Like averaging or building on an ai model, and then you can build ai models using private data, so they are basically planning to enter the big data market, but instead of a facebook and microsoft and other giants versus you, it's you to you so person to person. Now let's take a look at where ocean protocol is right now right now.
Market cap is 133 million dollars, 37 cents per ocean token, and, as we can see, it had a gigantic run up starting about july, peaking in september, and now it's got a bit of a pullback. Now things that could have potentially added to this run up would be this announcement here back in august, where coinbase is exploring the addition of ocean tourist exchange, we're honored to be up for consideration and excited to see where this opportunity will take us where coinbase is Exploring the addition of 19 new digital assets, as of yet they have not added ocean to there now. Another thing that they're doing recently is they've integrated, uh file, coin storage in their proto prodifier. So basically they're going this new storage strategy will allow you to fine tune their preferences and data available in size, geographical preferences, storage, cost exact, et cetera, using filecoin as we've seen today. Filecoin is on buyer up 120 just for today. Maybe some of this will go over to ocean protocol. Now i will say they have some gigantic competitors in the market. We'Re talking facebook we're talking like big big data and i don't think facebook is going to give them any of their data. I highly doubt it so it depends on having a marketplace peer to peer now. 51 of their tokens are actually to this purpose of getting people to exchange their data so potentially there's a lot. I mean 50 of what's, this 180 133 million, so we're talking like 65 million dollars to get people to share their data.
Maybe they could build it up, especially if they were to do something like what brave browser has done, provide a very good browser experience and then use get people to reward it in that where they can use brave token, where they can tip people, they can receive Brave uh, bat tokens and all that so if they could develop it into an ecosystem like what brave has done then potentially it could be something, but i will say me personally, i'm, not very optimistic. On this platform i mean using ai for exchanging data yeah. It sounds great in theory, like i'd love, to be able to monetize my data instead of facebook having it. But we take a look at other ai projects like deep brain chain now granted they weren't monetizing data, but they were tokenizing, artificial intelligence and you can see it had a gigantic run up like what uh ocean just had and then it's just been a complete, degenerate. Ever since then, for the past three years also it's just difficult to get something like this off the ground. I would think, but they have the money they may. They have the technology, so maybe it's something they'll. Do anyways that's my video today on ocean protocol.