Research shows that by 2032, the data collection market is set to grow at a 25% CAGR, reaching $109 billion from $63 billion. Coupled with the advent of AI and its primary source of knowledge running on data, AI companies are bound to become the most significant consumers of data.
Consequently, AI companies need more diverse, affordable, and high-quality data. Aiming to solve this is MSV GG’s partner, and Morningstar Ventures portfolio company Ta-da, an app that enables custom data sets to train AI models, ensuring agents are provided with quality data.
This month's project review will cover everything from the founding team behind Ta-da to how the app works and its gamification features. The review will end with analyzing the project’s strengths and potential challenges.
The Ta-da App, How it Works, and Gamification Features
Ta-da is the first Talk-to-Earn Web3 app and digital marketplace to connect businesses with individuals to earn tokens via recording voice data. The project evolved from Vivoka, a French-based AI company focusing on voice technologies. Both projects were founded and are run by Forbes France 30 Under 30 entrepreneur William Simonin.
Ta-da fosters AI innovation by offering a competitive marketplace that facilitates businesses in obtaining trustworthy datasets. Beyond catering to the requirements of AI companies, Ta-da also assists individuals in earning tokens by recording and verifying voice data. The project's live Beta app uses gamification to crowdsource and gather voice data from various users, which is then stored and authenticated on the blockchain. To date, 5K users have completed 2.5K tasks on the app.
The Ta-da app has three essential “users”:
- Companies: Companies request a job on the app depending on their needs. Typically, Ta-da has seen AI or Machine Learning (ML) companies request various jobs.
- Producers: Create the data on the app by completing micro-tasks requested by the company. Producers also get paid by Ta-da in their native token when a task is completed and verified.
- Checkers: Validate the data created by the producers. They ensure that everything is correct and not malicious. Checkers also get paid by Ta-da in their native token when they verify a task.
How the App Works:
- A company submits a “job” on the Ta-da app (for example, it needs data to train its voice assistant).
- Ta-da splits the “job” into micro-tasks sent to individual producers.
- The producer completes the micro-tasks by recording their voice, and for security reasons, it is sent to the checkers.
- The checkers ensure the producers have recorded quality data and vote for the validity of the data.
- If the data is valid, the producers and the checkers are paid via the native token $TADA; the data is then sent to the original company that requested the “job.”
In-App Gamification
Gamification is a significant aspect of the token economy and user incentives within the Ta-da application. For instance, when new users join, they receive a robot named Tadz, which can be personalized in various ways to make it unique. Users can select items to associate with their robots, some of which are cosmetic, while others are practical and help users earn more within the application. The robot also plays a crucial role in the social aspect of the application by enabling users to view other players' statistics, compare themselves with others, and discover new objects and features.
Furthermore, the application incentivizes users through a league system that encourages healthy competition. Additionally, as players complete more tasks, they earn experience points (XPs), which help them level up and gain more skills.
Fundraising and Team
As mentioned above, the French-based AI company Vivoka and its team are the predecessors of Ta-da, along with a strong board of advisors, including Hasheur, CEO of Meria, Luc Julia, creator of Apple’s Siri, and our CEO Danilo S. Carlucci. Regarding funding, in 2021, Morningstar Ventures incubated Ta-da, leading its seed round in early 2022. Throughout 2023, MultiversX became the protocol’s underlying chain and ecosystem, co-leading Ta-da’s private round together with Morningstar Ventures.
The capital raised will help the project develop its infrastructure and expand its AI data marketplace, and app – powered by MultiversX technologies. Other investors include X Ventures, GBV Capital, Alpha Protocol, Spark Digital Capital, and NXGEN Capital.
MSV GG and Ta-da Partnership
MSV GG is also working closely with the Ta-da team. So far, MSV GG members have tested the app and provided initial user feedback. In the future, the guild plans to keep working with Ta-da and provide recommendations on how the platform can continue to improve. Members will also create content for the Ta-da team, including onboarding guides and tutorials for future users.
Our Analysis:
Strengths:
- Ta-da has gained an edge in acquiring paying clients before the product launch, thanks to Vivoka's experience with corporate clients. This positions them to find the right product-market fit and create an optimal go-to-market strategy. With plans to expand to computer visions, text, and image categorization, Ta-da offers clients a range of use cases.
- The app's compelling gamification and enjoyable features are powerful motivators for producers and checkers, encouraging them to persist in using the application and finishing micro-tasks. The incorporation of tokenization and the web3 aspect distinguishes this AI app from other non-web3 apps and data platforms, adding a unique dimension to its functionality.
Challenges:
- The AI space is highly competitive, with numerous tech companies seeking entry. Ta-da must emphasize web3 and blockchain technologies to stand out, especially since most voice-related AI agents remain within the web2 ecosystem. However, onboarding clients within web2 could pose challenges, as they must comprehend the product and Ta-da's reliance on web3.
What’s Next for Ta-da
Regarding the product, Ta-da aims to operate across three domains: Voice, Computer Vision, and Text; however, given the growing need for natural language processing data, the team has decided to work on the “Voice” domain first. The team will also be working on its AI Marketplace.
Upcoming xLaunchpad
Ta-da is the next project on xLaunchpad, a MultiversX-driven platform and the official token launchpad. It enables projects built on the ecosystem to launch successfully with the support of the community and MultiversX team. Beyond funding, the xLaunchpad aims to provide support, including mentorship, resources, and networking opportunities. In Q1 of 2024, Ta-da will hold an IDO on xLaunchpad. The team recently released a tweet of key dates, for those who didn’t sign up on time, keep an eye on the project’s X (Twitter) page for future updates.
Learn more about Ta-da:
🌐 Official website: https://ta-da.io/
🐦 Official Twitter: https://twitter.com/Ta_da_io
📜 Whitepaper: https://docs.ta-da.io/introduction/overview
🕹️ Discord channel: https://discord.com/invite/MYFuBj9VS4
