The Grid Launches Beta, Aiming to Establish New Standard for Web3 Data

Contact Information: Jordan Hatcher, Co-Founder media@thegrid.id

FOR IMMEDIATE RELEASE - 12 November 2024

Leading Solana projects join early adoption of user-centric data standardisation, starting with Solana ecosystem

AMSTERDAM, Netherlands - 12 November 2024 - The Grid, a pioneering Web3 data standardisation platform, today comes out of stealth mode and announces its public beta launch following successful seed funding of over €600,000 led by Arches Capital. The platform debuts with commitments from over 60 Web3 companies to claim and maintain their profiles and a large dataset of Solana ecosystem projects, marking a significant milestone in establishing a global standard for Web3 ecosystem data.

The Grid introduces a fundamental shift in how Web3 projects are documented and understood, focusing on clear descriptions of what products and services do rather than technical implementation details. This fundamental shift helps bridge the gap between technical and non-technical audiences, making Web3 more accessible to mainstream users.

"The Web3 ecosystem has reached a critical point where standardised, open and reliable data is no longer optional – it's essential for the next phase of growth," said Jonathan Knegtel, Co-founder and CEO of The Grid. After over 40 interviews with data providers that focus on Web3, we’ve validated our position at The Grid as a provider of data into existing data providers. Our data is designed to be used where users already are – block explorers, wallets and exchanges. This means we don’t compete with platforms - we augment and improve their offerings to the end users in Web3. and we look forward to collaborating with them.”

Solana Ecosystem First

The beta launch focuses initially on the Solana ecosystem (after tests in Berachain and Farcaster earlier this year) and The Grid introduces TGSv7 (The Grid Standard version 7), which critically features an updated way to map products and assets to their contract deployments across and on the relevant chains. With this change, The Grid is now ready for data platforms to integrate trusted and standardised data in their production environments. 

The Grid has also released its explorer (explorer.thegrid.id) as an open-source (MIT) reference implementation, demonstrating the platform's GraphQL capabilities and enabling platforms to easily build ecosystem pages using The Grid’s data.

"Starting with Solana was a strategic choice," explains Jonathan Knegtel.  "The ecosystem's rapid growth, technical capabilities, and strong developer community make it the perfect environment to establish and refine our data standards and to have a high impact for the community. We’re thankful for the Solana community for their response and to Superteam UK and Superteam MY for their support.”

"In a generative AI world riddled with data misinformation , firms have little options or control on how their information is updated,” said Joel John, Partner at decentralised.co. and advisor to The Grid.  “The incentive structures for maintaining information across web3 are broken, with many places being ‘pay to play’. The Grid's approach enables firms to simultaneously update and control how firm level data is maintained across the ecosystem.”

Open Core Data Model

The platform operates on an open core model, making core fields in its standardised dataset openly accessible while maintaining proprietary infrastructure elements and data fields. In addition to the Explorer being available under an open source licence, The Grid will make core parts of its data available under the Open Database Licence (ODbL). 

"We’re really proud to be able to have an Open Data component to our dataset," said Jordan Hatcher, Co-Founder of The Grid.  "For me this is going full circle, from co-authoring the Open Data Commons licences over 15 years ago and seeing the ODbL adopted by Open Street Map and many others, to now being a part of a data company that offers Open Data to give back to the community of builders in Web3."

Early Adoption and Marketmaps

The Grid's beta launch has secured commitments from over 50 Web3 companies in the Solana ecosystem to maintain their profiles through the platform. These early adopters span various sectors including DeFi, infrastructure, and gaming projects.

"This strong and early response from leading Web3 companies demonstrates the industry's need for standardised, reliable data," said Jordan Hatcher, Co-Founder of The Grid.  "Their participation will help establish a more organised and transparent blockchain ecosystem, while at the same time allowing them to concentrate on building rather than managing their data across a large ecosystem."

With the support of Superteam UK and Superteam MY, The Grid has also been using its data to produce marketmaps within the Solana ecosystem, creating the largest set of marketmaps of the Solana ecosystem to date. To see The Grid’s work on Solana marketmaps, check out the X profile at: https://x.com/TheGridData 

Integration Partnerships

The platform is already securing its first integration partnerships with Solana-focused data platforms & wallets to integrate the data, as they struggle to provide great UX with the data they get today. This creates an opportunity for blockchain projects, as these integrations will allow blockchain projects to claim their profile on The Grid and:

• Maintain consistent data across multiple platforms

• Streamline the process of updating and managing Web3 entity information across many platforms and ecosystems pages

• Present complex Web3 products in user-friendly terms with consistent categorisation, descriptions, and brand and identity related content in the Web3 ecosystem.

Looking Forward

The beta phase will focus on:

• Onboarding additional Solana ecosystem projects

• Expanding integration partnerships

• Gathering user feedback for further protocol refinements

• Enhancing the open-source explorer with community input

• Preparing for expansion to additional blockchain ecosystems

For more information about claiming your Solana project in The Grid's beta program or implementing The Grid’s data in your platform, visit https://thegrid.id/.

Media Resources

• Press Kit available from the media contact

• Media Contact: Jordan Hatcher, Co-Founder and CLO

• Email: media@thegrid.id

Note to editors: Screenshots, logos, and executive headshots are available in the press kit. Interview opportunities with The Grid's leadership team can be arranged upon request.

About The Grid:

The Grid is developing the industry standard for structuring and verifying Web3 ecosystem data. Through its open core model and GraphQL API, The Grid enables better transparency and interoperability while maintaining high data quality standards. Founded in Amsterdam, The Grid is backed by Arches Capital and is working with leading Web3 companies to create a more organised and accessible blockchain ecosystem. For more information, visit https://thegrid.id/