Fun

0G Labs raises $35M pre-seed funding from over 40 crypto investors for on-chain AI

News Feed - 2024-03-26 10:03:00

Tristan Greene11 hours ago0G Labs raises $35M pre-seed funding from over 40 crypto investors for on-chain AIThe money will go towards building what 0G Labs calls the first modular AI chain.1033 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksWeb3 modular infrastructure firm 0G Labs announced the successful completion of a $35 million pre-seed funding round on March 25. 


According to a press release from 0G Labs, the round received participation from more than 40 crypto-native institutions, including Hack VC and Blockchain Builders Fund.


The funding will be used to build out 0G Labs’ vision of creating a full-stack blockchain-based solution for training, deploying, and running artificial intelligence models. Per the press release, one of the major advantages of its platform is speed over current state-of-the-art solutions such as Ethereum’s smart contract network.


Ed Roman, Managing Partner at Hack V, lauded 0G Labs a pioneer in the area of on-chain generative AI infrastructure:“0G is positioned as the premier modular data availability solution for web3, including the next frontier of crypto-powered AI networks. Their data availability technology has shown to achieve speeds 1000x+ faster and cheaper than ETH L1, which is simply phenomenal. We’re proud to be their partners in this journey, and can’t wait to see their ecosystem thrive as the team pushes forward towards main-net."


Pre-seeding is typically the first funding round a startup receives. This $35 million dollar emergence round represents one of the largest initial startup funds for a company operating at the intersection of Web3 and artificial intelligence (AI).


For comparison, OpenAI, the company behind ChatGPT and Dall-E, raised $120,000 in its pre-seed round on Aug. 22, 2016. In the time since, OpenAI has ridden the success of its generative AI technology to a current valuation of around $80 billion as of Feb. 2024.


Related:FTX to offload $1B Anthropic stake to pay off bankruptcy debts within weeks — report


0G Labs’ website states that one of the products it’s developing is called “Uni-Chain.” Accoridng to the site, this is an architecture for Web3 that seamlessly connects networks into a unified metaverse where users can transact with users and services on any chain through through single wallet access.


“Our modular technology will enable frictionless interoperability between chains,” reads the site, “while ensuring security, eliminating fragmentation, and maximizing connectivity for a weightless and open meta-uni-verse.”# Blockchain# AI# Metaverse# Web3Add reactionAdd reactionRead moreCrypto game ‘Munchables’ on Blast exploited for $63MMastercard sees partnerships as key to blockchain remittances in LatamVisa Token Service reaches 1B tokens served in Asia-Pacific market

News Feed

Report: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout
Report: Terra Founder Do Kwon"s Spouse Seeks Police Protection After the LUNA and UST Fallout Following the aftermath of the Terra blockchain tokens LUNA and UST losing significant
Nobel Prize Laureate Paul Krugman Warns of an Eternal Winter for Blockchain
Nobel Prize Laureate Paul Krugman Warns of an Eternal Winter for Blockchain Nobel Prize-winning economist Paul Krugman has warned about the possibility of a perennial winter for bl
Venezuelan Army Starts Mining Bitcoin for ‘Unblockable Income’
Venezuelan Army Starts Mining Bitcoin for "Unblockable Income" The Venezuelan Army has inaugurated a cryptocurrency mining center with bitcoin mining equipment a
Crypto Wealth Manager Vaneck Launches Polygon and Avalanche Investment Offerings
Crypto Wealth Manager Vaneck Launches Polygon and Avalanche Investment Offerings The wealth manager Vaneck has announced it has expanded its exchange-traded note (ETN) offerings to
Ark Invest Expects Bitcoin to Exceed $1 Million by 2030 — Says BTC Could Transform Monetary History
Ark Invest Expects Bitcoin to Exceed $1 Million by 2030 — Says BTC Could Transform Monetary History Ark Investment Management (Ark Invest) has predicted that the price of bitcoin
PEPE Eyes 150% Jump To Grab Liquidity At $0.000025 After Bouncing Off ‘Powerful Support’
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini
Onchain Analysis Report Says Terra"s Bitcoin Reserves Were Sent to Binance and Gemini After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wonde
Dvision Network Announces Binance Custody as Its Custodian With DVI Token Supported
Dvision Network Announces Binance Custody as Its Custodian With DVI Token Supported press release PRESS RELEASE.In another groundbreaking achievement, the blockchain-based metaverse
$25 Million Pledge From Ripple Set To Benefit Teachers And Students Across The US
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
ViaBTC Group Announces Strategic Upgrade to Advance Innovation and Improve Customer Experience
ViaBTC Group Announces Strategic Upgrade to Advance Innovation and Improve Customer ExperienceHong Kong, 30 May, 2020 – ViaBTC Group, an innovative technology company speciali
Dogecoin Price Faces ‘Moment Of Truth’ As It Battles The Macro 0.5 Fib Extension
Este artículo también está disponible en español. The Dogecoin price is currently battlingto break above the $0.4 price level again, but technical analysis suggests that
Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations
Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations The Central Bank of Nigeria (CBN) reportedly frozen ban