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Home»TRADING NEWS»GaiaNet has secured $10 million in funding for its decentralized AI protocol.
TRADING NEWS

GaiaNet has secured $10 million in funding for its decentralized AI protocol.

By Crypto FlexsMay 29, 20243 Mins Read
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GaiaNet has secured  million in funding for its decentralized AI protocol.
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GaiaNet, a decentralized AI developer, is challenging the centralized artificial intelligence environment by creating a new paradigm using blockchain technology. The company recently raised $10 million in funding to develop blockchain optimized for large-scale language models and generation software.

Key initiatives and investor engagement

These funds will help GaiaNet build a decentralized network of edge nodes managed by individuals and businesses. This approach aims to democratize artificial intelligence tools, providing a more comprehensive alternative to dominant players like Google. Matt Wright, CEO of GaiaNet, said the company’s goal is to “redefine how humans and AI engage to enable sovereign infrastructure” for artificial intelligence management.

One of GaiaNet’s initiatives includes addressing the shortage of higher education professionals using decentralized AI-based teaching assistants. This effort builds on an existing partnership with the University of California to develop chatbots for STEM students.

The seed funding round saw participation from high-profile investors including Lex Sokolin of Generative Ventures, Brian Johnson of Republic Capital, Shawn Ng of 7RIDGE, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab. Commenting on the investment, Lucas Lu, CEO of ByteTrade Labs, emphasized that GaiaNet’s decentralized AI network “opens endless possibilities for both users and developers to collaborate with AI agents.”

GaiaNet began phase 1 product testing in the second quarter of 2024 and plans to launch the testnet and software development kit in the third quarter of 2024.

Decentralized AI developer GaiaNet challenges the centralized artificial intelligence phenomenon by leveraging blockchain technology for a new paradigm https://t.co/3X8vlHebj7

— crypto.news (@itscrypto_news) May 28, 2024

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Launched on the Ethereum blockchain, 99Bitcoins provides a unique platform for users to share knowledge and learn about cryptocurrencies while earning cryptocurrency rewards. 99BTC tokens are key to accessing advanced training courses within the platform ecosystem, including exclusive webinars and training sessions.

Those who choose to become a 99Bitcoins whale will gain access to a VIP community group that provides access to experts and cryptocurrency signals to enhance their trading decisions. The platform has simplified the process of acquiring cryptography knowledge and is expanding into the Learn-to-Earn (L2E) space with new Web3-focused initiatives.

Users can now access interactive learning modules, quizzes, certifications, and more through the platform. The 99Bitcoins pre-sale has already raised over $400,000, demonstrating strong interest and support for the project. For more information about the presale, interested parties can visit presale.99bitcoins.com.

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