Addressable.io has Raised $7.5 million to use social media data to match crypto wallets to their owners. The company has held a seed round led by his Viola Ventures, Fabric Ventures, Mensch Capital Partners and North Island Ventures, TechCrunch reports.
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Do you want to de-anonymize your crypto wallet for marketing purposes?
According to reports, addressable can identify crypto wallets to Twitter accounts. The company investigated over 500 million wallets and his 100 million social media accounts.
Using this data, Addressable built algorithms to match the information. The company was founded by current CEO Tomer Shatorni, his current CTO Tomer Shlomo, and current chief his scientist Asaf Nadle.
Addressable wants to remove the crypto wallet’s anonymity feature and shift marketing to the Web3 sector. The company claims that merchants can unlock new opportunities by matching users to cryptocurrency wallets and targeting users according to their balance.
This mechanism can increase a company’s marketing return on investment (ROI) by several orders of magnitude, according to reports. Sharoni told TechCrunch:
Addressable.io joins other Web3 CRM startups such as Blaze, Cookie3, Kazm and Absolute Labs primarily focused on reactivating customers by analyzing and engaging their existing on-chain user base. competing with (Addressable.io) takes a more holistic and comprehensive approach by unlocking all Web3 on-chain users.
![Crypto BTC BTCUSDT Crypto Wallet](https://bitcoinist.com/wp-content/uploads/2023/02/Crypto-BTC-BTCUSDT-Crypto-Wallets-980x449.png)
Many projects and founders have worked on cryptographic privacy solutions to enhance this functionality. In the Ethereum ecosystem, its inventor Vitalik Buterin discusses implementing zero-knowledge proofs and similar technologies to improve user privacy.
In the Bitcoin ecosystem, miners have approved a “Taproot” upgrade to enhance privacy on this blockchain. The crypto industry values privacy as a feature, not a bug, with multiple use cases for journalists, charities, and other groups looking to trade anonymously.
In that sense, Addressable could potentially compromise the identities of millions of users by giving them to companies for “marketing purposes” without their consent.