Decentralized synthetic intelligence protocol Swarm Network raised a complete of $13 million to construct an AI verification protocol.
According to a Wednesday announcement shared with Cointelegraph, $10 million of the raised funds was secured via the protocol’s licenses to function brokers. A challenge spokesperson advised Cointelegraph that every license is a non-fungible token (NFT) that enables its holder to acquire each day rewards for working brokers and sustaining the community.
The remaining funds comprise a $3 million strategic funding from buyers, together with Sui (SUI), Ghaf Capital, Brinc, Y2Z and Zerostage. The investments by Sui, Ghaf and Brinc had been secured by Swarm’s participation in SuiHub’s Dubai-based world accelerator.
Swarm Network is constructing a decentralized protocol that makes an attempt to show offchain knowledge into verifiable onchain info. The system has seen an early adopter within the AI-powered fact-checking answer Rollup News, the place 128,000 customers have reportedly verified over 3 million posts up to now.
Related: Trading bots vs AI brokers: all the things it’s worthwhile to know
Crypto-AI marriage attracts consideration
Blockchain know-how and digital property are more and more paired with synthetic intelligence know-how, attracting important investor curiosity. Numerai, an AI-driven hedge fund backed by Paul Tudor Jones, lately secured a dedication of as much as $500 million from JPMorgan Asset Management.
Earlier this month, crypto alternate Kraken acquired Israel-based startup Capitalise.ai, a no-code buying and selling automation platform that turns natural-language instructions into executable methods. Some companies abandon crypto for AI altogether, with cryptocurrency miner TeraWulf pivoting into AI infrastructure internet hosting in mid-August.
Related: The way forward for digital self-governance: AI brokers in crypto
The rise of crypto AI brokers
AI brokers, a time period referring to AI bots which have entry to instruments and may act independently to realize their targets, are gaining important traction within the crypto area. Earlier this month, Coinbase improvement workforce members Kevin Leffew and Lincoln Murr went so far as to say that AI brokers could change into Ethereum’s “greatest energy person.”
The statements adopted anticipation after late 2024, when trade executives advised Cointelegraph that AI brokers would acquire important traction this 12 months. Predictions on the time included that such brokers would tackle a extra outstanding function inside decentralized communities and that decentralization would make AI extra reliable.
Magazine: Train AI brokers to make higher predictions… for token rewards
