Exploring RootData: How the Data Giant Became the Go-To Platform for Web3 Investment Insights

A Treasure Trove of Web3 Data

RootData is a revolutionary platform that empowers investors and entrepreneurs in the ever-evolving Web3 landscape.

Headquartered in Singapore, it has become a trusted source for navigating the complex world of crypto projects.

But what exactly makes RootData so special? How did this odyssey begin?

The Birth of a Data Giant

Founded in mid-2022 by Pan and QuanYu, RootData's journey began with ChainCatcher, a leading Chinese-language Web3 media outlet.

While building ChainCatcher, the founders observed that the Web3 industry had a strong financial component, and users were both consumers and investors.

They realised that accurate and timely project data was crucial for the success of these users.

"The primary value of data is to quantify investment risks," Pan explained. "Without data analysis, investments become purely speculative."

This was how RootData’s journey began.

Who Are the Founders

RootData was founded by Pan Yubo and Quan Yu, both of whom are affiliated with ChainCatcher. ChainCatcher is one of RootData's key partners, as listed at the footer of the website.

Pan is the founder of the media outlet while QuanYu was editor-in-chief.

Pan, Co-Founder and CEO

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Pan Yubo, who goes by his surname ‘Pan’, is the founder and CEO of RootData. He is also the founder of ChainCatcher, an early investor in the cryptocurrency market.

Pan has been leading ChainCatcher since May 2017, focusing on content operations.

QuanYu, Co-Founder and CIO

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QuanYu is the co-founder and CIO of RootData.

Previously, he was the editor-in-chief of the Chinese cryptocurrency media ChainCatcher and worked in operations at the venture capital information provider IT Juzi.

With experience in the crypto industry since early 2018, QuanYu is known for his insights on industry trends and expertise in data mining and processing.

Building a Robust Data Foundation

Before RootData's arrival, navigating the Web3 investment landscape was akin to traversing a labyrinth.

Project details were scattered and lacked cohesion.

RootData tackled this challenge head-on, meticulously compiling a comprehensive database of over 13,000 projects, 10,000 individuals, and 7,500 investment and financing activities.

Screenshot of the data, as of writing, 26 July 2024

Their dedication extends beyond sheer volume.

Leveraging a unique blend of tags, ecosystems, and archives, RootData presents this wealth of information in a user-friendly format, empowering over 1.5 million users to make informed decisions.

By combining manual and automated methods, they ensure both accuracy and efficiency.

This meticulous approach has garnered the trust of prominent media outlets such as The Wall Street Journal and Coindesk, solidifying RootData's position as a credible source within the Web3 industry.

A Data-Driven Approach to Untangle Complexities

The team behind RootData understands that trust is paramount in the Web3 arena.

To ensure the accuracy of their data, they employ a multi-pronged approach.

Data is meticulously compiled by professionals, drawing from official project websites and credible reports. A rigorous "de-PR" process further guarantees the reliability of the information.

But RootData doesn't stop there.

Recognising the dynamic nature of the Web3 space, they've established a dedicated feedback channel and a reward system, encouraging users to contribute updates and identify potential discrepancies.

This commitment to collaboration and user participation positions RootData as a leader in fostering a data-driven, community-centric ecosystem.

The $1.25 Million Funding Milestone: How It All Began

In mid-September 2023, the crypto world converged on Singapore for Token2049, the industry's largest gathering to date.

This event marked a turning point: it signalled the beginning of a sustained bull market for cryptocurrencies like Bitcoin.

For RootData, a fledgling Web3 data platform, the conference was equally transformative.

The surge in market interest, coupled with ongoing product iterations, led to a tenfold increase in daily active users.

It was during Token2049 week that Pan, a co-founder of RootData, and Tony, a senior partner at Northern Light Venture Capital, met for a leisurely stroll around Bedok Reservoir Park, situated in the East of Singapore.

Bird’s eye view of Bedok Reservoir Park where the partnership began

Their conversation revolved around the burgeoning Web3 industry and the critical role of data platforms.

Both recognised that while data was a significant pain point, it was also an indispensable necessity for navigating the complexities of Web3.

This shared vision led to a natural partnership.

When RootData launched its latest funding round at the end of the year, Northern Light Venture Capital was the obvious choice to lead the investment.

Joining them was Hong Kong-listed gaming company Boyaa Interactive (00434.HK), which had already made a significant foray into Web3 by acquiring $100 million worth of cryptocurrencies, including Bitcoin and Ethereum.

Other notable investors in RootData's $1.25 million seed round included Bonfire Union Ventures, Sending Labs, Skyland Ventures, GoPlus, Basics Capital, Rebase D.Ventures, UniSat, See DAO, and prominent figures from the industry such as Gavin from Orbiter Finance, Shawn Shi from Alchemy Pay, and Jackson from 0xScope.

The capital will be channelled towards accelerating research and development, propelling RootData's service rollout to new heights.

Beyond the Basics: Unveiling Real-Time Insights

While their initial focus lay on investment and financing data, RootData has continuously expanded its horizons.

Recognising the value of real-time data, they have incorporated on-chain insights, allowing users to delve deeper and witness transfer dynamics and total reserves directly on project, institutional, and individual homepages.

This integration provides an invaluable layer of transparency, empowering users to make more informed decisions.

A Data API for Everyone

RootData's vision extends beyond their platform.

By offering a comprehensive data API, they empower third-party partners to seamlessly integrate Web3 data into their applications.

This eliminates the burden of manual data maintenance and streamlines access to valuable information for users across diverse platforms, from investors to media outlets.

With over 30 API customers currently on board, RootData is demonstrably enhancing user experience across the Web3 spectrum.

OKX Wallet Joins the Game

In recent development, they have partnered with OKX Wallet.

Users can now seamlessly access RootData's vast database of over 13,000 Web3 projects directly through their OKX Web3 Wallet.

This integration allows for a smooth and efficient experience, empowering investors to make data-driven decisions on the go.

Organic Integration and Diversified Growth

As RootData continues its trajectory, the focus remains on seamless integration of on-chain and off-chain data.

Continuous product iteration and a commitment to user experience lie at the heart of their roadmap.

Additionally, they are exploring innovative monetisation strategies, including venturing into primary and secondary market transactions, alongside the potential of membership models.

Further enriching the user experience, RootData has begun integrating X data, currently available in beta. This feature provides valuable insights into project, institutional, and individual social media networks.

A Gateway to the Web3 Frontier

The accolades bestowed upon RootData speak volumes.

Investors and industry leaders alike recognise their exceptional data visualisation capabilities and unwavering commitment to execution.

The organic user base, fueled by word-of-mouth recommendations, is a testament to the transformative power of RootData.

As envisioned by its founders, RootData is poised to become the quintessential entry point for those seeking to navigate the complexities of the Web3 world.

With a robust data infrastructure, a user-centric approach, and a clear vision for the future, RootData is undoubtedly on course to revolutionise the way we interact with and understand the ever-evolving Web3 landscape.