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Investing.com -- Datavault AI Inc. (NASDAQ:DVLT) stock jumped 6.8% on Monday after the data tokenization company announced the creation of two new data unions focused on the insurance and accounting sectors.
The company is partnering with the Independent Insurance Agents & Brokers of America (Big "I") for its Insurance Data Union, while the Accounting Data Union will collaborate with the top two private accounting firms from each U.S. state to develop a private equity index spanning thousands of companies across market sectors.
These new initiatives aim to tokenize anonymized data from both industries, enabling secure monetization through Datavault’s patented technologies and Information Data Exchange. The company’s smart contracts will automate transactions within these unions, providing transparent payment processes for participants.
"Our data unions empower independent professionals to monetize their data ethically and efficiently under their independent brand, but with the strength and data relevance of the larger unions we are creating," said Nathaniel Bradley, Datavault AI CEO. "We’re turning data into a renewable asset class, fostering innovation across industries that are data rich."
The company sees significant revenue potential in these markets, with the global insurance sector projected to reach $8 trillion by 2025 and the accounting services market estimated at $650 billion. Datavault plans to generate Annual Recurring Revenue through tokenized data sales, analytics, and smart contract-based transactions.
Tim Varone, a Health Insurance Benefits Sales Director and Datavault AI advisor, noted, "It’s remarkable how many markets stand to be revolutionized through Datavault’s patented solutions. Few markets have the data assets of insurance and accounting."
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