According to reports, Sridhar Ramaswamy, a former Google executive who led the company's ad business for five years, is teaming up with leading venture firms in Silicon Valley to launch a new startup called nxyz.
Ramaswamy's rolodex of top-notch connections in Silicon Valley has secured the following:
$40 million in funding for the nxyz startup, which was conceived early in 2022.
Nxyz is a search engine without intrusive advertisements and online tracking tools.
It contradicts the norm of search engines by using Web 3.0 technology.
As it seems, the new company's primary mission is to restore privacy and control to internet users by allowing them to remain anonymous while they search. Nxyz will also aim to be more transparent with its algorithm than Google, which has been criticized for manipulating search results.
The Web3 trend is catching on, with reports showing crypto startups raising a total of $30.3 billion in the first half of 2022 alone.
With heavy hitters from both the traditional business world and the crypto industry backing new Web3-centric startups such as nxyz, the future of the blockchain and crypto space is looking bright.
While speaking on the move to launch nxyz as a search engine for blockchains with a focus on data privacy and ownership by users, an expert from safetradebirnaryoptions.com commented, saying:
"It is evident that traditional search engines have not been able to address the concerns of data privacy and ownership. This has given a lot of space for new startups like nxyz to come in and fill the void. The Internet is at a crossroads. One path will head towards centralized services that prioritize profit. The other path will build a new decentralized web that puts people first."
I hope this analysis offers valuable insight into the new startup and its implications for the future of the internet and, by extension, the crypto industry.
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